Binance to Support ORN Swap and LUMIA Rebranding

October 1, 2024

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Binance to Support ORN Swap and LUMIA Rebranding

Binance has introduced its help for the mainnet swap and rebranding of Orion (ORN) to Lumia (LUMIA), set to take impact on October 15, 2024.

The crypto big has confirmed its full technical and operational help for the rebranding and token swap of Orion (ORN) to Lumia (LUMIA), commencing mid-October 2024. Following which it’ll launch buying and selling for the LUMIA/USDT pair on October 18.

As per the announcement, Binance will take away all present ORN spot buying and selling pairings together with ORN/BTC, ORN/USDT, and cancel any pending ORN spot buying and selling orders.

In keeping with Binance, the transition from ORN to LUMIA will happen in 4 distinct phases:

Suspension of ORN Actions: On October 15, 2024, at 03:00 (UTC), Binance will delist all ORN buying and selling pairs (ORN/BTC and ORN/USDT) and cancel all pending orders. At 03:30 (UTC), deposits and withdrawals of ORN tokens shall be suspended. Customers should guarantee their ORN deposits are accomplished earlier than this time.
LUMIA Launch: On October 18, 2024, deposits for LUMIA will open at 08:00 (UTC), adopted by the launch of buying and selling for the LUMIA/USDT pair at 09:00 (UTC).
Token Swap Particulars: All ORN tokens shall be swapped each 1 ORN token, and customers will obtain 1 LUMIA token. The entire provide will enhance from 92,631,255 ORN to 238,888,888 LUMIA post-swap.
Withdrawal and Different Providers: A separate announcement will notify customers about when withdrawals for LUMIA shall be obtainable after the occasion concludes. After the completion of the occasion, deposits and withdrawals of ORN will not be supported.

right here’s how binance will help the rebranding via its varied merchandise:

Margin Buying and selling: ORN shall be faraway from margin buying and selling on October 9, 2024, and customers are suggested to shut their positions beforehand to keep away from potential losses.
Loans and Easy Earn: Binance will discontinue help for ORN-related merchandise, together with loans and Easy Earn Versatile Merchandise. Customers should settle all excellent ORN loans by October 9, 2024, and the Easy Earn program will finish on October 11, 2024. Early reimbursement or asset redemption is really useful.
Reward Playing cards and Binance Pay: ORN will not be supported for reward playing cards or on Binance Pay as of October 15, 2024.

Moreover, companies like as Convert, Auto-Make investments, and Purchase & Promote Crypto will delist ORN earlier than the token switch.

Binance urges all ORN token holders to organize for the swap by monitoring key dates and adjusting lively buying and selling bots, margin positions, and different affected companies. After rebranding, LUMIA tokens will change ORN throughout Binance’s ecosystem for a seamless transition.