Binance has confirmed it would assist Lumia’s imminent TSE (token swap occasion) and it has now been scheduled.
Binance’s resolution to assist the swap will allow ORN holders to entry the brand new Lumia token (LUMIA) that can be credited to their Binance accounts robotically 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 can be swapped on a one-to-one foundation.
Token swap approaches as Lumia prepares to launch
The Lumia TSE is without doubt one of the ultimate key deliverables to be ticked off earlier than the brand new chain can proceed with its launch.
Binance’s resolution to assist the occasion will considerably assist coordination, offering a centralized platform that’s effectively outfitted for overseeing the method.
Whereas there is no such thing as a obligation for ORN holders to make the most of Binance so as to have their balances swapped for LUMIA, it would kind 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’s going to then allow LUMIA deposits on October 18, 2024, at 1:00 a.m. PST.
Whereas ORN holders don’t must concern themselves with the small print since Binance will automate all the things it’s price noting that the LUMIA token can have a brand new provide of 239 million.
The brand new LUMIA token can be used to assist community governance, whereas a deflationary mechanism inbuilt ought to be certain that long-term incentives between HyperNode operators and community customers are aligned.
Other than getting used because the chain’s native gasoline token, LUMIA may also be required to entry premium options and there may be additionally speak 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 can be eagerly wanting ahead to the mainnet launch of Lumia Chain they usually shouldn’t have lengthy to attend.
The approaching mainnet deployment follows on from a profitable HyperNode sale that attracted sturdy group curiosity.
Node operators who validate transactions on Lumia will be capable to earn community rewards, which can kind one of many a number of use instances engineered for the LUMIA token.
Having already received 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 satisfy its pledge of making a scalable chain the place tokenized RWAs and DeFi can coexist.
On condition that on-chain RWAs (real-world property) are predicted to turn out to be a trillion-dollar business within the subsequent decade, it’s straightforward to see the bull case for Lumia and its eponymous token if it could seize even a slice of this motion.
The mix 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 turn out to be a hub of RWA exercise.
Earlier than all that may happen, nevertheless, 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 property and digital finance, making tokenized property simply accessible on the blockchain pioneering the subsequent evolution of finance.
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