RWA and DeFi on a Dedicated Layer: Lumia Prepares to Launch

Binance has confirmed it will support Lumia's imminent Token Swap Event (TSE) and it has now been scheduled. Binance's decision to support the swap will enable ORN

Binance will support the upcoming Token Swap Event (TSE) for the highly anticipated launch of the new chain, as announced by the team on September 30.

Binance has confirmed that it will support the upcoming Token Swap Event (TSE) for the new chain, enabling ORN holders on the exchange to effortlessly obtain the new token (LUMIA). Binance will automatically credit the swapped tokens to the relevant accounts upon completion of the upgrade. Additionally, Binance will temporarily halt withdrawals and deposits of ORN in preparation for the seamless completion of the swap, which will occur at a ratio of 1 ORN to 1 LUMIA.

As one of the final critical milestones before the launch of the new chain, the TSE will be a closely monitored event, and Binance's involvement will greatly facilitate the coordination process. While ORN holders are not required to utilize Binance for the swap, many will likely opt for this convenient method.

On October 15 at 03:30 UTC, Binance will suspend ORN deposits and withdrawals in preparation for the TSE. Following the swap, Binance will enable LUMIA deposits on October 18 at 08:00 UTC. Although ORN holders need not actively participate in the swap process, as Binance will handle everything automatically, it's important to note that the new LUMIA token will have a total supply of 239M.

The new LUMIA token will serve as the chain's native gas token, facilitating network governance and enabling access to premium features. Furthermore, certain projects launching on the Lumia chain have expressed an interest in airdropping tokens to LUMIA holders.

Following the completion of the token swap, LUMIA holders can eagerly anticipate the mainnet launch of the Lumia Chain, which is expected to occur shortly after the swap.

The impending mainnet deployment follows a successful HyperNode sale that garnered substantial community interest. As validators of transactions on the Lumia network, HyperNode operators will be eligible to earn network rewards, which will contribute to the diverse range of use cases designed for the LUMIA token.

Having already secured partnerships with a lineup of ecosystem partners, who will be integrating with the current testnet and subsequent mainnet, Lumia is fully equipped to deliver on its promise of creating a scalable chain that can simultaneously support tokenized RWAs and DeFi.

Given that onchain real-world assets are projected to become a trillion-dollar industry within the next decade, there's a compelling bull case for both Lumia and its eponymous token, especially if it can secure even a fraction of this market.

With its deep liquidity, optimal capital efficiency, and the availability of compliant frameworks to support security token trading, Lumia has the potential to become a hub of RWA activity. However, before all of that can happen, there's a token swap to complete and a new chain to launch.