Binance has confirmed it should assist Lumia’s imminent TSE (token swap occasion) and it has now been scheduled.
Binance’s choice to assist the swap will allow ORN holders to entry the brand new Lumia token (LUMIA) that might be credited to their Binance accounts routinely following the improve.
Binance may also halt withdrawals and deposits forward of the improve to make sure the method is accomplished seamlessly. ORN to LUMIA tokens might be swapped on a one-to-one foundation.
Token swap approaches as Lumia prepares to launch
The Lumia TSE is among the last key deliverables to be ticked off earlier than the brand new chain can proceed with its launch.
Binance’s choice to assist the occasion will considerably support coordination, offering a centralized platform that’s effectively outfitted for overseeing the method.
Whereas there isn’t any obligation for ORN holders to make the most of Binance in an effort to have their balances swapped for LUMIA, it should type the popular route for a lot of on account of its comfort.
On October 15, 2024, at 08:30 p.m. PST, Binance will droop ORN deposits and withdrawals earlier than conducting the TSE.
It can then allow LUMIA deposits on October 18, 2024, at 1:00 a.m. PST.
Whereas ORN holders don’t have to concern themselves with the small print since Binance will automate all the pieces it’s value noting that the LUMIA token could have a brand new provide of 239 million.
The brand new LUMIA token might be used to assist community governance, whereas a deflationary mechanism inbuilt ought to make sure that long-term incentives between HyperNode operators and community customers are aligned.
Except for getting used because the chain’s native gasoline token, LUMIA may also be required to entry premium options and there’s additionally discuss of holders being airdropped tokens by different tasks launching on Lumia.
RWAs and DeFi on a devoted layer
Following completion of the token swap, LUMIA holders might be eagerly wanting ahead to the mainnet launch of Lumia Chain they usually shouldn’t have lengthy to attend.
The upcoming mainnet deployment follows on from a profitable HyperNode sale that attracted robust group curiosity.
Node operators who validate transactions on Lumia will be capable of earn community rewards, which can type one of many a number of use circumstances engineered for the LUMIA token.
Having already gained over a string of ecosystem companions, who’ve dedicated to supporting the present testnet and subsequent mainnet, Lumia has all of the instruments in place to meet its pledge of making a scalable chain the place tokenized RWAs and DeFi can coexist.
Provided that on-chain RWAs (real-world belongings) are predicted to develop into a trillion-dollar trade within the subsequent decade, it’s straightforward to see the bull case for Lumia and its eponymous token if it could possibly seize even a slice of this motion.
The mixture of deep liquidity and optimum capital effectivity plus the provision of compliant frameworks to assist safety token buying and selling means Lumia has all of the components in place to develop into a hub of RWA exercise.
Earlier than all that may happen, nonetheless, there’s a token swap to finish, after which the brand new chain to launch.
About Lumia
Lumia is the world’s first next-gen modular layer two designed with deep liquidity, unmatched capital effectivity and important infrastructure for the way forward for DeFi, and particularly RWAs.
Lumia bridges the hole between bodily belongings and digital finance, making tokenized belongings simply accessible on the blockchain pioneering the subsequent evolution of finance.
Be taught extra on the web site.
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