Users that own our native token, UNUS SED LEO, are entitled to a variety of benefits when trading on Bitfinex.

Trading Fees Discounts

These discounts vary according to an account holder's user status level, based upon the amount of UNUS SED LEO held in an account over the previous month, along with the type of trade executed on the Bitfinex platform.

Customers who hold at least one Tether (USDt) in UNUS SED LEO tokens in a Bitfinex wallet over the past 30 days (calculated daily) qualify for level 1 status. This minimum requirement is increased to at least 5,000 USDt in UNUS SED LEO tokens to obtain level 2 status while level 3 users need to hold at least 10,000 USDt in UNUS SED LEO tokens.

When trading crypto-to-crypto and crypto-to-stablecoin pairs, level 1 users obtain taker fee discounts of 15%. Level 2 users garner an additional 10% discount, resulting in an overall fee reduction of 25%. In addition to these cumulative fee reductions, level 3 users are entitled to discounts of up to 6 basis points (BPS) when trading crypto-to-crypto, crypto-to-stablecoin and crypto-to-fiat (to sum up with an additional 10% discount), with crypto derivatives trades garnering a discount of up to 2 BPS.

Funding Fees Discounts

UNUS SED LEO token holders are entitled to a discount on peer-to-peer (P2P) lending fees of up to 5%.
The discount in P2P lending fees, reduces the fees by the equivalent of 0.05% for every 10,000 Tether (USDt) in LEO tokens held in a trading account during the previous month (calculated daily). The maximum discount of 5% is reached when 1 million USDt in LEO is held across the previous month.
Fee reductions are subject to change at Bitfinex’s discretion, due to changes in fee schedules or otherwise. All current and future fee discounts can be viewed on the Bitfinex Fees page. Additionally, you can view all relevant token/fee statistics under Reports > Summary.

Affiliate Program

If you are an affiliate and one of your members, over the past 30 days, had an average holding of UNUS SED LEO tokens greater than 500 USDt LEO equivalent, you will be eligible for an additional multiplier on his activities as follows:

• 500+ USDt LEO equivalent - a 1.1x multiplier
• 5,000+ USDt LEO equivalent - a 1.2x multiplier
• 50,000+ USDt LEO equivalent - a 1.5x multiplier

The UNUS SED LEO Burn Mechanism

The token burn mechanism will see iFinex (and entities such as eosfinex) buy back UNUS SED LEO from the market, at market rates and on an hourly basis, equal to a minimum of 27% of consolidated revenues of iFinex. The burn mechanism will continue until 100% of tokens have been redeemed and no more tokens are in circulation.
UNUS SED LEO tokens used to pay trading fees on Bitfinex will also be burned, whilst recovered funds from Crypto Capital, and an amount equal to at least 80% of recovered net funds from the Bitfinex hack, will be used to purchase (and subsequently burn) circulating tokens.
The UNUS SED LEO redemption mechanism is live as of today, 10.00 AM UTC, with tokens being burnt every 3 hours until 100% of supply has been taken out of circulation. To monitor the token redemption statistics, visit leo.bitfinex.com.