Binance will facilitate users swapping ORN to LUMIA this October

Global crypto exchange Binance will help users migrate their Orion tokens to Lumia from October 15 to October 18.

Binance announced on September 30 that it will support the rebranding of Orion Protocol as liquid layer 2 blockchain Lumia through a network upgrade.

As part of the transition process, the crypto exchange will remove all Orion-Bitcoin(BTC) and Orion-Tether(USDT) trading pairs at 06:00 UTC on October 15, 2024, and all pending ORN spot trading orders will be removed. has been cancelled. Additionally, deposits and withdrawals of ORN tokens will also be suspended on this day.

Binance will reopen trading of LUMIA/USDT trading pairs at 12:00 UTC on October 18, 2024, while LUMIA deposits will be open at 08:00 UTC on the same day. Additionally, Binance Margin services for ORN will be terminated at 09:00 UTC on October 9, 2024.

After the event was completed, Binance announced that it would no longer support deposits and withdrawals of ORN tokens, only LUMIA. Therefore, users are advised to update or cancel their trading bot services before this date.

In preparation for the transition, Binance will increase the Orion token supply from 92,631,255 ORN to 238,888,888 LUMIA. According to the announcement, all ORN tokens will be swapped into LUMIA at the rate of 1 ORN = 1 LUMIA.

Binance announced that users would not be able to update their positions during the transition period and advised users to close their positions in margin wallets or transfer their assets to spot wallets.

Additionally, the exchange clearly states that it will not be responsible for any losses that may occur during the delisting process.

This transition and rebranding will also impact other Binance services such as Simple Earnings, Binance Credits, Binance Conversion, and Auto-Investment.

On February 26, 2024, Orion Protocol introduced Lumia, the first hyper-liquid restake layer 2 blockchain ever.

According to their blog post, Lumia stands for “a powerful liquidity infrastructure protocol that connects Layer 1s and Layer 2s with unlimited liquidity from CEXs and DEXs.”

On April 4, 2024, Orion Protocol announced that they would officially begin the transition from ORN to LUMIA. The protocol stated that a token swap event will be held by major crypto exchanges to help users swap their ORNs into LUMIA.