Cayman Islands, Cayman Islands, September 30th,
2024, Chainwire
Binance has confirmed it will support Lumia’s imminent Token
Swap Event (TSE) and it has now been scheduled. Binance’s decision
to support the swap will enable ORN holders to access the new
Lumia token (LUMIA) that will be credited to their
Binance accounts automatically following the upgrade. Binance will
also halt withdrawals and deposits ahead of the upgrade to ensure
the process is completed seamlessly. ORN to LUMIA tokens will be
swapped on a 1:1 basis.
Token Swap Approaches as Lumia Prepares to Launch
The Lumia TSE is one of the final key deliverables to be ticked
off before the new chain can proceed with its launch. Binance’s
decision to support the event will significantly aid coordination,
providing a centralized platform that’s well equipped for
overseeing the process. While there is no obligation for ORN
holders to utilize Binance in order to have
their balances swapped for LUMIA, it will form the preferred route
for many on account of its convenience.
On October 15 at 03:30 UTC, Binance will suspend ORN deposits
and withdrawals before conducting the TSE. It will then enable
LUMIA deposits on October 18 at 08:00 UTC. While ORN holders don’t
need to concern themselves with the details, since Binance will
automate everything, it’s worth noting that the LUMIA token will
have a new supply of 239M.
The new LUMIA token will be used to support network governance,
while a deflationary mechanism built in should ensure that
long-term incentives between HyperNode operators and network users
are aligned. Aside from being used as the chain’s native gas token,
LUMIA will also be required to access premium features and there is
also talk of holders being airdropped tokens by other projects
launching on Lumia.
RWAs and DeFi on a Dedicated Layer
Following completion of the token swap, LUMIA holders will be
eagerly looking forward to the mainnet launch of Lumia Chain – and
they shouldn’t have long to wait. The impending mainnet deployment
follows on from a successful HyperNode sale that attracted strong
community interest. Node operators who validate transactions on
Lumia will be able to earn network rewards, which will form one of
the multiple use cases engineered for the LUMIA token.
Having already won over a string of ecosystem partners, who have
committed to supporting the current testnet and subsequent mainnet,
Lumia has all the tools in place to fulfill its pledge of creating
a scalable chain where tokenized RWAs and DeFi can coexist. Given
that onchain real-world assets are predicted to become a
trillion-dollar industry in the next decade, it’s easy to see the
bull case for Lumia and its eponymous token if it can capture even
a slice of this action.
The combination of deep liquidity and optimum capital
efficiency, plus the availability of compliant frameworks to
support security token trading, means Lumia has all the ingredients
in place to become a hub of RWA activity. Before all that can
occur, however, there’s a token swap to complete and then the new
chain to launch.
About Lumia
Lumia is the world’s first next-gen modular L2 designed with
deep liquidity, unmatched capital efficiency, and essential
infrastructure for the future of DeFi and specifically Real-World
Assets (RWAs). Lumia bridges the gap between physical assets and
digital finance, making tokenized assets easily accessible on the
blockchain - pioneering the next evolution of finance.
Learn more: lumia.org
Contact
Lumia
Foundation
contact@lumia.org