Review on UNUS SED LEO by Sergio Daniel Delgado
UNUS SED LEO
LEO's main function is to keep Bitfinex afloat amid the company's poor financial situation. So it would essentially serve as a bonus issued by the exchange within the EOS and Ethereum Blockchain simultaneously.
UNUS SED LEO's goal was to raise $ 1 billion to fill the company's budget hole. One billion tokens of the currency, which were offered at a price of $ 1 per LEO, with no discount possible.
Bitfinex committing to use 27% of its monthly earnings, to carry out a repurchase of the cryptocurrency from the holders. Subsequently destroying the repurchased tokens. Recovering the creditors, in this way, the money invested, while during the time they had their UNUS SED LEO tokens, they would enjoy other advantages.
First of all, having discounts of up to 15% in commissions on all your operations within Bitfinex. In addition to monthly discounts of 0.05% for every 10,000 USDT in value that is keep in the account of the trader in UNUS SED LEO. And finally, discounts on the withdrawal and deposit of cryptocurrencies and fiat money that is made within the Bitfinex platform, up to 25%.
Pros
- In terms of market capitalization and fundraising, UNUS SED LEO has been one of the most successful cryptocurrencies, hands down. Well, thanks to its Initial Coin Offering, this cryptocurrency quickly ranked among the top cryptocurrencies in the world. Also managing to raise the billion dollars that Bitfinex required for its funtionability. In addition, this has been achieved while taking advantage of the platform of two different Blockchains. This represents an important innovation, as its tokens are hosted in the EOS chain and in the Ethereum at the same time. Thanks to this, the holders of UNUS SED LEO enjoy greater flexibility. Being able to convert their LEO tokens to either of the two Blockchains, using Bitfinex as a bridge between the two. Thus stimulating interoperability between cryptocurrencies.
Cons
- The biggest challenge Bitfinex has encountered at the launch of UNUS SED LEO has undoubtedly been credibility. Well, after the suspicions of manipulation of Tether by the exchange, it is normal for the crypto community to think twice before trusting the company. However, Bitfinex has repeatedly stated that the redemption process for UNUS SED LEO is completely transparent. Enabling even a web page so that those who have LEO in their balance, can access the available data of the process
- For the storage of UNUS SED LEO there is really no problem, thanks to its ERC-20 token status. Therefore, it is supported by multiple digital wallets that accept tokens from this type, including MyEtherWallet, Jaxx, Trezor, and Ledger.
