Binance Prepares for ORN to LUMIA Transition with Key Trading Updates

Binance has officially announced its support for mainnet swap and rebranding of Orion (ORN) as Lumia (LUMIA). This transition, scheduled for October 15, 2024

Binance has announced its support for the mainnet swap and rebranding of Orion (ORN) to Lumia (LUMIA). This transition, set for October 15, 2024, will see a 1:1 conversion of ORN tokens to LUMIA.

The swap will significantly alter the token's structure, with the total supply increasing from 92,631,255 ORN to 238,888,888 LUMIA, marking a 158% rise. This move is expected to draw attention to the Lumia ecosystem, potentially impacting the value and trade volume of the new token upon its complete integration.

As part of this transition, Binance will delist all ORN spot trading pairs, including ORN/USDT and ORN/BTC, on October 15, 2024, at 03:00 UTC. This move will affect traders currently holding ORN, and they are advised to adjust their trading strategies accordingly. However, a new Lumia (LUMIA) trading pair will be上线 shortly after.

Binance plans to launch the LUMIA/USDT trading pair on October 18, 2024, at 09:00 (UTC), ensuring a smooth transition for traders ready to engage with this move. Additionally, ORN will be removed from Binance's Cross and Isolated Margin trading as early as October 9, 2024.

These moves showcase Binance's efforts to provide a seamless migration for users while also keeping up with the evolving cryptocurrency ecosystem.

On a separate note, Binance has announced changes in its handling of Luna Classic (LUNC) burn events. As reported by CNF, the platform tweaked its LUNC token burn mechanism this month, holding multiple burn events instead of adhering to the standard first-of-the-month schedule.

This move highlights Binance's adaptability in responding to the needs and developments of the LUNC community.

Notably, the LUNC community is currently voting on a proposal to rectify the validator count, which was adjusted incorrectly following a recent Software Development Kit (SDK) upgrade. This ongoing governance effort within the LUNA Classic network showcases its members' active participation and attention to ensuring the network's integrity.

As we reported earlier, Binance has also shown its support for other blockchain networks, with a recent endorsement of the EOS hard fork. The upgrade was successfully completed on September 25, with Yves La Rose, Founder and CEO of the EOS Network Foundation, publicly thanking Binance for supporting this critical update.