Bitfinex has decided on a continuous schedule for buying back its new native token, Unus Sed Leo (LEO). The token burns, visualized on a new tracking tool, are a way to share the earnings of the exchange, but also a payback on a $1 billion loan taken to cover holes in the finances of Bitfinex.
The LEO token was issued through an initial exchange offering (IEO) on Bitfinex in May, following attempts to take out a loan from Tether (USDT) to the tune of $900 million. Bitfinex was pressed for a decision when it became clear it