Bitfinex reduces fees for the LEO token
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Bitfinex reduces fees for the LEO token

By Marco Cavicchioli - 5 Sep 2019

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Bitfinex has announced a reduction in fees for UNUS SED LEO (LEO) token owners. 

The promotion started a few days ago, on September 3rd, and resulted in a reduction in fees of 0.01 BPS for every 10,000 Tether (USDt) in LEO tokens held on the trading platform’s accounts during the previous month. 

The overall reduction can be up to 2 basis points (BPS) for those who held 2 million USDt in LEO during the previous month.

The promotion was launched to promote the introduction of derivative products on iFinex Financial Technologies Limited, which will be available to eligible Bitfinex account holders. 

However, these reductions are subject to change, at Bitfinex’s discretion, due to changes in the calculation of fees or for other reasons. All current and future discounts can still be viewed on the page dedicated to fees on the Bitfinex website, whereas for registered users there is also another page on which it is possible to find out more about their fees.

A few days ago the company announced the launch of two new derivative products, the BTCF0/USDt0 and the ETHF0/USDt0. These are perpetual contracts that have Tether (USDT) as collateral, and allow leverage up to 100x. 

They are only available to eligible Bitfinex accounts and have an isolated margin for an individualised risk level. These derivatives are managed by iFinex Financial Technologies Limited, a subsidiary of Bitfinex’s owner company registered in Seychelles.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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