Crypto traders have been in a frenzy lately promoting the exchange token UNUS SED LEO (LEO). LEO is a token launched by iFinex, the parent company behind the controversial cryptocurrency exchange Bitfinex. The token was distributed via a private $1 billion token sale completed in May.
In this piece, we take a look at LEO’s value proposition, its burning mechanisms, and how it compares to Binance Coin (BNB), the leading exchange token by market cap.¹
Binance Coin vs. UNUS SED LEO
Exchange tokens typically capture value by offering the following benefits to its holders and users:
- Discounts on exchange fees
- Access to products and services
- A quasi-claim to the issuer’s cash flow via burning mechanisms
At the surface level, it is clear LEO has drawn some inspiration from BNB, a pioneer in the exchange token space.