Bitfinex announced the launch of the UNUS SED LEO own tokens burning mechanism, and also presented a “transparency initiative” for public control over this process.
It is a combinated real-time tokenomics dashboard. https://t.co/cAqEjlI8yM pic.twitter.com/4Sz1dYnxCc
– Bitfinex (@bitfinex) June 14, 2019
Thus, the parent company of the stock exchange iFinex will buy tokens from the market, using at least 27% of their monthly total income, up to their complete disappearance.
In particular, initially, the proceeds from commissions charged when trading on Bitfinex will be sent to buy them. Over time, other sources will be added to it, including fees for depositing / withdrawing funds or entering into margin transactions.
To ensure maximum transparency, Bitfinex has launched a special website through which users can follow LEO burning in real time.
Recall that Bitfinex is going to release its own token, it became known in late April. During the IEO exchange attracted $ 1 billion, and at the end of May announced the start of margin trading in pairs with UNUS SED LEO.
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