The UNUS SED LEO crypto token is an ERC-20 token that was launched in May 2019. The token is issued by iFinex, the company that owns several cryptocurrency exchanges and other financial technology companies, such as Bitfinex.
The main utility of the UNUS SED LEO token is to provide holders with a discount on fees charged by the iFinex platforms. These discounts are tiered, with holders of larger amounts of tokens receiving greater discounts. In addition, 50% of all platform profits are used to buy back and burn tokens. The token burn mechanism could lead to increasing demand for the token over time.
Given that Bitfinex and related companies are some of the largest volume cryptocurrency exchanges in operation today, holding LEO tokens could be a good way to reduce your trading costs if you frequently trade on these platforms.