The cryptocurrency exchange Binance has announced its support for the Orion Protocol (ORN) mainnet swap and rebranding to Lumia (LUMIA).
Support for Swap and Rebranding
Binance will support the swap and rebranding process, including the dates and procedures. The official announcement states that on October 15th, Binance will delist all ORN trading pairs and pause deposits and withdrawals. Trading for the LUMIA/USDT pair will begin three days after the ORN delisting.
ORN Token Operations
Users can swap their ORN tokens to LUMIA on a 1:1 ratio. The total supply of Lumia will increase from 92.6 million to 238.9 million tokens. Binance will handle all technical changes in the token swap process, so customers do not need to take any action.
ORN Market Volatility
The rebranding announcement caused volatility in the ORN market. ORN’s price dropped sharply to $1.367 after rallying to $1.718 earlier.
Binance's announcement supporting the ORN to LUMIA swap and rebranding has triggered significant volatility in the cryptocurrency market.
