Bitfinex announced the launch of the UNUS SED LEO(traded at 1.93$ according to coinlore.com) own tokens burning mechanism, and also presented a “transparency initiative” for public control over this process.
The UNUS SED LEO Transparency Initiative is here, combining a continuous token burn process with a transparent and verifiable dashboard for real-time tokenomics. https://t.co/cAqEjlI8yM pic.twitter.com/4Sz1dYnxCc
— Bitfinex (@bitfinex) June 14, 2019
Thus, the parent company of the stock exchange iFinex will buy tokens from the market, using at least 27% of their monthly total income, up to their complete disappearance.
In particular, initially, the proceeds from commissions charged when trading on Bitfinex will be sent to their ransom. Over time, other sources will be added to it, including fees for deposit / withdrawal of funds or conclusion of marginal transactions.