LEO is the exchange token of Bitfinex exchagne. In 2018 iFinex, the parent company of Bitfinex, was made aware it's payment processor, Crypto Capital, was subject to a partial government seizure of its funds. While efforts are being made, there is no certainty that Bitfinex will be able to recover the funds. To alleviate the cash shortfall, BitFinex announced it would conduct a private offering for $1 billion for it's token Unus Sed Leo.The token will be used to receive discounts on trading on current and future iFinex trading platforms and services. iFinex will buy back tokens from the market with a minimum of 27% of consolidated revenues from the previous month until all tokens are removed from circulation. In addition, an amount equal to 95% of the recovered net funds from Crypto Capital and 80% of recovered funds from a 2016 hack will be used to repurchase outstanding tokens.Bitfinex is made up of six core features:1. Exchange TradingAt the heart of Bitfinex are central limit order books for the spot trade of digital tokens. Users can deposit, trade, and withdraw digital tokens.2. Margin TradingBitfinex allows qualified users to trade with up to 10x leverage, receiving financing with the help of our margin funding and peer-to-peer financing platform. When opening a financing position, users can manually enter a funding order to receive the desired amount of financing, at the rate and duration of their choice. Alternatively, users can open a financed trading position and Bitfinex will automatically link them with peer-to-peer financing at the current prevailing rate.3. Margin FundingThe P2P financing market provides users with a way to earn interest on their digital assets through lending out their funds to other users who want to trade with leverage. Margin funding allows you to earn returns on your funds without the risk associated with trading. If you prefer a low-risk investment strategy then Margin Funding is for you. To learn more, read our Introduction to Margin Funding.4. Over The Counter Market (OTC)Bitfinex offers a private OTC Market as an avenue for traders seeking to perform large trades directly with a counterparty, bypassing the public order books. Trades performed via the OTC Market provide access to large liquidity without affecting the exchange market price.5. DerivativesBitfinex verified users (intermediate level and above) can use the Derivatives Trading feature provided by iFinex Financial Technologies Limited. The maximum leverage for derivatives trading is 100x. The leverage will determine the amount of allocated collateral.6. Paper Trading - test, learn and simulate trading strategiesYou can also use the Paper Trading function to test and experiment in a simulated market. Test tokens are used therefore no real deposits will be required, the tokens do not represent any value and cannot be withdrawn. To learn more, read our Paper Trading guide.