Bitfinex presented documentation on its own LEO token – what you need to know about tokensale?

Today, the Chinese crypto-exchange Bitfinex has officially submitted the documentation for its own LEO token. The company announced the launch of the site for IEO and recalled that during the tokensail plans to attract $ 1 billion in Tether (USDT) – these funds will help to cover a debt of $ 850 million.

According to the white paper, the private sale of tokens will end on 11 May. The Bitfinex team notes that if less than 1 billion USDT is collected in a private sale, the issuer, which is Unus Sed Leo Limited, has the right to continue selling LEO at that time and in the way it deems necessary following the established requirements . The cost of one LEO token is 1 USDT.

LEO is a service token created for the iFinex ecosystem. According to the documentation, the holders of LEO tokens will receive a lot of advantages by participating in future projects, as well as using the company's products and services. For example, LEO can be used to reduce commissions while trading on Bitfinex or Ethfinex.

It is known that in June, an IEO platform will be launched, thanks to which “selected” crypto projects will be able to raise funds, and subsequently their tokens will be able to get listed on Bitfinex and Ethfinex. In addition, Bitfinex plans to launch a licensed, regulated exchange of service tokens, which will not be available to residents of the United States.