IEOs, the modified version of ICOs brought back by Binance was like John Hammond’s cloned dinosaurs in Jurassic Park. IEOs have RoI, which is almost similar to the ICOs and the bull run has barely begun. Binance IEO idea was soon spreading like a virus, like Bitfinex, Huobi Global, etc.
Bitfinex’s IEO was a success, considering the token sale of LEO, where $1 billion was raised in over 10 days. A much faster token sale was done for Ampleforth token as it raised the hard cap only 11 seconds into the launch.
In a recent announcement, Bitfinex said that they will use the revenue earned from their IEO platform, Tokenix, to buy LEO tokens. The blog added:
“In line with our commitment to UNUS SED LEO holders of dedicating revenues to the redemption of LEO tokens , we are pleased to announce the use of 27% of the past and future Tokenix revenues to the purchasing of LEO tokens.”
The blog further mentioned that over the past 15 days, Bitfinex has used 27% of the revenue generated from the Ampleforth token sale to buy outstanding LEO.
The LEO tokens were introduced when the scuffle between the NYAG and Bitfinex was at its peak, These tokens were issued to cover the $850 million currently frozen in several accounts controlled by the payment processing company, Crypto Capital.
The CTO of Bitfinex, Paolo Ardoino, tweeted:
“Unus Sed $LEO gets new revenue streams as promised. ???? @bitfinex”
The blog concluded:
“More UNUS SED LEO fee benefits are set to go live over the course of the coming weeks and we remain committed to growing the range of advantages for traders on Bitfinex.”