Global crypto exchange Binance announced its support for the rebranding of Orion Protocol and transition to their new network Lumia from October 15 to October 18.
Transition Date and Time
Binance will remove all Orion-Bitcoin (BTC) and Orion-Tether (USDT) trading pairs on October 15, 2024, at 06:00 UTC. All pending ORN spot trading orders will be canceled. Additionally, deposits and withdrawals of ORN tokens will be suspended on this day. Trading for LUMIA/USDT pairs will reopen on October 18, 2024, at 12:00 UTC, while deposits of LUMIA will open at 08:00 UTC the same day.
Changes in Trading and Services
Binance will terminate its margin trading services for ORN on October 9, 2024, at 09:00 UTC. After the transition event is completed, Binance will no longer support deposits and withdrawals of ORN tokens, only LUMIA. Users are advised to update or cancel their trading bot services before this date. This transition will also impact other Binance services, including Simple Earn, Binance Loans, Binance Convert, and Auto-Invest.
Information about Lumia
In preparation for the transition, Binance will increase the Orion token supply from 92,631,255 ORN to 238,888,888 LUMIA. All ORN tokens will be swapped to LUMIA at a ratio of 1 ORN = 1 LUMIA. Users will not be able to update their positions during the transition process, so they are advised to close their positions in margin wallets or transfer assets to spot wallets. Orion Protocol unveiled Lumia, the first hyper-liquid layer 2 blockchain with re-staking on February 26, 2024.
This transition and rebranding represent a significant event for both projects. Users are encouraged to closely follow updates and take all necessary measures to ensure a smooth transition of their assets.
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