LEO Token

LEO Token is an exchange token issued by Bitfinex, a centralized cryptocurrency exchange, and launched on 20 May 2019. It is designed for use within the Bitfinex ecosystem, where holders can receive reduced trading fees and other platform benefits. The token was created partly to address a financial shortfall Bitfinex faced following a loss of funds, with token proceeds used to recover those assets.

LEO Token exists primarily on the Ethereum blockchain, though it also has a presence in the Sora ecosystem, and it does not operate its own consensus mechanism or produce its own blocks. Within the Bitfinex platform, holding LEO reduces the fees a user pays on trades and other services. Bitfinex has committed to using a portion of its revenues to repurchase and burn LEO tokens over time, gradually reducing the circulating supply.

The fee stream behind LEO comes from trading activity on the Bitfinex exchange, where users pay fees that the platform then partially redirects toward token buybacks and burns. Holders themselves do not receive direct fee distributions; instead, the economic return mechanism is the reduction of circulating supply through burns. The circulating supply currently stands at 919,857,851.9 tokens, representing 93.36 percent of the supply that has been issued to date, with a dilution overhang of 7.11 percent reflecting tokens not yet in circulation. No maximum supply figure is recorded in the data, so the upper bound on total issuance is not defined here.