Cayman Islands, Cayman Islands, September 30, 2024, Chainwire
Binance has confirmed that it will support Lumia’s impending Token Exchange Event (TSE), which is currently scheduled. If Binance decides to support the swap, ORN holders will have access to the new Lumia token (LUMIA), which will be automatically credited to their Binance account after the upgrade. Binance will also suspend withdrawals and deposits ahead of the upgrade to ensure the process is completed smoothly. ORN is exchanged 1:1 for LUMIA tokens.
Token exchange approach in preparation for Lumia launch
Lumia TSE is one of the final key deliverables to see before the new chain launches. Binance’s decision to support the event will greatly aid coordination by providing a centralized platform to oversee the process. There is no obligation for ORN holders to utilize Binance to exchange their balances for LUMIA, but the convenience will likely make it the preferred route for many.
At 03:30 UTC on October 15, Binance will suspend ORN deposits and withdrawals prior to performing TSE. LUMIA deposits will then be activated at 08:00 UTC on October 18th. ORN holders don’t need to worry about the details, but since Binance automates everything, it’s worth noting that LUMIA tokens will have a new supply of 239 million.
The new LUMIA token will be used to support network governance, and a built-in deflation mechanism should ensure that long-term incentives between hypernode operators and network users are aligned. In addition to being used as the chain’s native gas token, LUMIA will require access to premium features, and there is also talk of holders airdropping tokens from other projects launching on Lumia.
RWA and DeFi on a dedicated layer
Once the token swap is complete, LUMIA holders will be eagerly anticipating the mainnet launch of Lumia Chain and should not have to wait long. The imminent mainnet deployment follows the successful HyperNode sale, which attracted great interest from the community. Node operators who validate transactions on Lumia can earn network rewards, forming one of the many use cases designed for LUMIA tokens.
Having already secured a series of ecosystem partners who have pledged to support the current testnet and subsequent mainnet, Lumia has all the tools to deliver on its promise to create a scalable chain where tokenized RWA and DeFi can coexist. . Given that on-chain real-world assets are expected to become a trillion-dollar industry within the next decade, it’s easy to see an upside for Lumia and its eponymous tokens if they can capture even a slice of this activity.
The combination of deep liquidity, optimal capital efficiency, and the availability of a compliance framework to support security token trading means Lumia has all the ingredients to become a hub for RWA activity. However, before all this can happen, the token swap must be completed and a new chain must be started.
About Lumia
Lumia is the world’s first next-generation modular L2 with deep liquidity, exceptional capital efficiency, and essential infrastructure for the future of DeFi, especially Real-World Assets (RWA). Lumia pioneers the next evolution of finance by bridging the gap between physical assets and digital finance, making tokenized assets easily accessible on the blockchain.
Learn more: lumia.org
contact
Lumia Foundation
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