Eidoo has just announced its support for the LEO token private sale, which means that it will be possible to purchase tokens from the Swiss app – even if only for a value of 100 dollars – through an IOU of LEO tokens.
Obviously, citizens from the United States, North Korea, China and a whole series of other countries that do not comply with the AML of Eidoo are not allowed to take part in this sale.
LEO IOU, short for “I owe you”, allows Eidoo users to receive LEO tokens when issued by iFinex. Through the Eidoo app, more specifically on the hybrid exchange, people will be able to buy LEO IOU tokens with ETH. Once the tokens are distributed by iFinex, they will be “replaced” with the real LEO tokens so that each LEO IOU will correspond to one LEO.
In the event that LEO Token is not issued by the iFinex subsidiary, or that for any reason they are not available to be redistributed, every LEO IOU will be refunded at the IEO Token Price of $1.00 (paid in ETH).
| Ticker | LEOIOU |
| No. of Tokens sold | 5.000.000 |
| IEO Token price (in USD) | $ 1.00 |
| IEO start | 7 May 2019,1:00 PM UTC |
| IEO end | 11 May 2019,1:00 PM UTC |
| Pair | LEOIOU / ETH |
| Minimum order | 0.3 ETH |
| Maximum order | Unlimited |
| Fee | 5% (in EDO tokens) |
| KYC Tier Required | EidooID, Tier 2 on the Eidoo App |
How does LEO work?
LEO tokens holders will get 15% off on crypto to crypto trading on Bitfinex. In addition, traders will benefit from an additional 10% fee discount if they hold more than $5,000 in LEO tokens on their account.
On a monthly basis, Bitfinex and its affiliates will purchase LEO from the market at a minimum of 27% of the consolidated gross revenues in the previous month, until no more than 100 million LEO tokens remain.
Repurchases will be made at market rates. Even the LEO tokens used to pay fees can be burned. In addition to the above, an amount equal to at least 95% of the net funds recovered from Crypto Capital will be used to repurchase and burn the pending LEO tokens within 18 months of the date of recovery. Furthermore, an amount equal to at least 80% of the net funds recovered from Bitfinex will be used to repurchase and burn circulating LEO tokens within 18 months of the date of recovery.
