Bitfinex celebrates the first BURNday of UNUS SED LEO
As one of the longest-standing exchanges in the crypto industry, Bitfinex is guided by the innovation for advancement value that motivates us to relentlessly work on the industry’s first products and tools to deliver on the blockchain promise of freedom and scalability. .
At the same time, we know that driving adoption is equally crucial, which we believe can be best achieved through an independent fiat gateway that will increase the speed and ease with which fiat currencies can be exchanged for cryptocurrency in a legally compliant manner.
With that in mind, Bitfinex developed the UNUS SED LEO token and released the white paper on 10th May 2019.
The value is in the value, not the quantity
Inspired by the fable of an Aesop, The Sow and the Lioness, we named the token UNUS SED LEO.
The words came when the sow asked the lioness about the number of young she had produced at birth, in an attempt to shame her. The lioness’s answer was, “I only have one; but that’s totally a thoroughbred lion, ”suggesting quality over quantity.
The UNUS SED LEO token was first offered in a private Initial Exchange Offering (IEO), following the release of the whitepaper. The offer received an overwhelming response from the crypto community as it successfully raised nearly USD 1 billion in just under a week, marking another milestone for Bitfinex and the wider crypto community at the time.
As a token designed to strengthen the Bitfinex community and provide usefulness to anyone looking to maximize the output and capabilities of the Bitfinex trading platform, the UNUS SED LEO token brings immense benefits to its holders.
And as the name suggests, it just lasts 1 UNUS SED LEO (or equal to 1 USDt to $ LEO) to enjoy all the benefits it has to offer. However, you must be a verified user to enjoy it.
Here are some of the benefits that UNUS SED LEO holders are entitled to:
The amount of the discount varies depending on the user status level of the holder, which depends on the number of LEO tokens held for a given period, as follows:
- 1 USDT in LEO ≤ Level 1 <5,000 USDT in LEO
Level 1 users are entitled to a 15% discount on the taker fee.
- 5,000 USDt in LEO ≤ Level 2 <10,000 USDt in LEO
Level 2 users receive an additional discount of 10%, bringing the total discount for the taker to 25%.
- 10,000 USDt in LEO ≤ level 3
In addition to the above cumulative reductions in fees, Level 3 users receive discounts of up to 6 basis points (BPS) when trading crypto-to-crypto, crypto-to-stablecoin and crypto-to-fiat and up to 2 BPS for crypto derivatives trading.
Holders of UNUS SED LEO token get up to 5% discount on peer-to-peer (P2P) loan fees.
- Multiplier of an affiliate program
If one of your members has an average of 500 USDt LEO equivalent, as an affiliate you are eligible for additional multipliers, as follows: 500+ USDt LEO equivalent – a 1.1x multiplier.
– equivalent of 500+ USDt LEO – a multiplier of 1.1x
– 5,000+ USDt LEO equivalent – a 1.2x multiplier.
– 50,000+ USDt LEO equivalent – a 1.5x multiplier.
- Fees for Withdrawals and Deposits
Holders of> 50 million UNUS SED LEO tokens will receive up to 25% off crypto withdrawal and deposit.
For more information on the benefits of the UNUS SED LEO token holders, please visit our support page.
Apart from all the benefits mentioned above, UNUS SED LEO holders can expect much more from the entire portfolio and future projects, products and services, as described in the white paper.
In honor of UNUS SED LEO’s one-year milestone 🥳
To mark the first burn anniversary of the UNUS SED LEO token, we are running the ‘WIN and act like a LION’ competition running from 12th up to 16th June 2020. Go to the contest page for more information and enter.
On top of the benefits that the token has to offer, UNUS SED LEO has also become the company’s motto. An ethos that we nurture that extends into the fabric of our company. We value quality over quantity.
Fortunately 1st birthday UNUS SED LEO! You are one, but a lion 🦁