Binance to Support Orion (ORN) Mainnet Swap and Rebranding to Lumia (LUMIA)
Jessie A Ellis Sep 30, 2024 04:18
Binance will support the mainnet swap and rebranding of Orion (ORN) to Lumia (LUMIA), with significant changes in trading pairs and token supply.
Binance has announced its support for the upcoming mainnet swap and rebranding of Orion (ORN) to Lumia (LUMIA), according to binance.com. This transition will involve significant changes, including the delisting of existing ORN trading pairs and the introduction of new LUMIA trading pairs.
Key Dates and Changes
On October 15, 2024, at 03:00 (UTC), Binance will delist all ORN spot trading pairs, specifically ORN/BTC and ORN/USDT. All pending ORN spot trading orders will be canceled. Subsequently, on October 18, 2024, at 09:00 (UTC), Binance will open trading for the LUMIA/USDT trading pair.
Token Supply Increase
Following the rebranding, the total token supply will increase from 92,631,255 ORN to 238,888,888 LUMIA. Users can refer to the project's tokenomics and the official announcement for detailed information.
Impact on Margin Trading
Binance Margin will delist ORN from cross and isolated margin pairs on October 9, 2024, at 06:00 (UTC). The affected pairs include ORN/BTC and ORN/USDT. Users are advised to close their positions and transfer their assets from Margin Wallets to Spot Wallets before the cessation of margin trading to avoid potential losses.
Other Services Affected
Binance Simple Earn will cease support for ORN Flexible Products from October 11, 2024, at 03:00 (UTC). All remaining ORN Flexible Products positions, along with any accrued rewards, will be automatically redeemed to users' Spot Wallets. Binance will then resubscribe the converted LUMIA assets for the Flexible Product after the event is complete.
Additionally, Binance Loans (Flexible Rates) and VIP Loan will close all outstanding loan positions for ORN from October 9, 2024, at 03:00 (UTC). Users are strongly advised to repay their outstanding ORN loans before this date to avoid potential losses.
Note on Trading Bots and Copy Trading
Binance will terminate Trading Bots services for ORN spot trading pairs on October 15, 2024, at 03:00 (UTC). Users are advised to update or cancel their Trading Bots to prevent any losses. Binance Spot Copy Trading will also delist ORN spot trading pairs on October 14, 2024, at 03:00 (UTC), moving any outstanding assets to the Spot Wallet.
With these significant changes, Binance aims to ensure a smooth transition for users holding ORN tokens. The new LUMIA trading environment is expected to offer enhanced opportunities and a broader scope for trading and investment.
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