Altcoin News: Bitfinex Launched Its LEO Token on the Ethereum and EOS Blockchains

May 22, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Cryptocurrency Exchange Bitfinex this Wednesday announced that its own LEO token was launched on two blockchains at once: Ethereum and EOS.

According to Bitfinex, such an approach will simplify the process of using LEO by its holders, will provide support to the protocols that it deemed most valuable, contribute to the development of blockchain compatibility solutions and make LEO an integral part of the decentralized exchange space through native integration into Ethfinex and eosfinex exchanges.

Currently, 660 million tokens are based on Ethereum and 340 million on EOS. Users can convert LEO between blockchains using their own Bitfinex infrastructure, and the company will take over the function of adjusting emissions in all supported networks. Also, the output of both versions of LEO has become available to users.

Earlier, Bitfinex announced that it was able to raise $1 billion by selling LEO to private investors. Currently, LEO continues to trade slightly above the initial sales price.

Chart via TradingView

Also today, Bitfinex has reduced the fee for withdrawing fiat funds from its platform to 0.1% for all users. The minimum withdrawal is $60.

Author: Marko Vidrih