Binance has confirmed it will support Lumia's imminent Token Swap Event (TSE) and it has now been scheduled.
Binance, the world’s leading cryptocurrency exchange, has announced its support for the upcoming Token Swap Event (TSE) for ORN/LUMIA tokens. The exchange will halt ORN deposits and withdrawals on October 15 at 03:30 UTC in preparation for the TSE. Binance will then enable LUMIA deposits on October 18 at 08:00 UTC. The ORN to LUMIA tokens will be swapped on a 1:1 basis.
The TSE is a critical step before the launch of the new chain, and Binance’s decision to support the event will aid coordination. While ORN holders are not obligated to use Binance to have their balances swapped for LUMIA, the exchange will serve as the preferred route for many due to its convenience.
The new LUMIA token will have a total supply of 239M and will be used to support network governance. The token features a deflationary mechanism to ensure long-term incentives between HyperNode operators and network users are aligned. In addition to being the chain’s native gas token, which is used to pay for transactions on the network, LUMIA will also be required to access premium features. Holders may also be eligible for airdropped tokens from other projects launching on the chain.
After the token swap is complete, LUMIA holders will be able to look forward to the mainnet launch of the new chain, which is expected to occur soon. The upcoming mainnet deployment follows a successful HyperNode sale that attracted strong community interest. Node operators who validate transactions on the network will be able to earn network rewards, which will serve as one of the multiple use cases for the LUMIA token.
Lumia has already secured several ecosystem partners who will support the current testnet and upcoming mainnet. With its focus on tokenized RWAs and DeFi, the project aims to create a scalable chain where these two worlds can converge.
Considering the bull case for tokenized real-world assets and the potential for the market to grow into the trillions over the next decade, Lumia and its eponymous token have the opportunity to capture a significant portion if it can become the chain of choice for this activity.
The combination of deep liquidity, optimal capital efficiency, and the availability of compliant frameworks to support security token trading will give Lumia a strong advantage. However, before all this can fully materialize, there is a token swap to complete and a new chain to launch.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.