Binance to delist ORN as Lumia rebranding, token swap set for October
Binance has announced its full backing for the upcoming rebranding and mainnet swap of Orion (ORN) to Lumia (LUMIA), scheduled for mid-October 2024.
The transition will see ORN tokens replaced with LUMIA, and the crypto giant has confirmed it will provide technical and operational support throughout the process.
Starting October 15, 2024, Binance will delist all ORN trading pairs and cancel any pending ORN orders.
The rebranding will also involve a complete token swap, where users will exchange 1 ORN token for 1 LUMIA token.
Following the rebranding, the total supply of LUMIA will increase significantly from 92.6 million ORN tokens to 238.8 million LUMIA tokens.
The transition will occur in several phases. On October 15, 2024, Binance will suspend all ORN deposits and withdrawals at 03:30 UTC, and ORN trading pairs (ORN/BTC and ORN/USDT) will be delisted at 03:00 UTC.
By October 18, 2024, deposits for LUMIA will open at 08:00 UTC, followed by the launch of LUMIA/USDT trading at 09:00 UTC.
As part of the token swap, each ORN token will be exchanged for one LUMIA token, and ORN tokens will be replaced by LUMIA across Binance’s platform, with ORN no longer supported after the swap.
In addition to the token swap, Binance will make several service adjustments. ORN will be removed from margin trading on October 9, 2024, and users are advised to close their positions to avoid losses.
Binance will also discontinue support for ORN-related products, including loans and Simple Earn, by October 11, 2024, urging users to repay loans and redeem assets early.
Finally, ORN will no longer be available for gift cards or Binance Pay starting October 15, 2024. Binance recommends that ORN holders closely monitor these key dates and make necessary adjustments, such as closing active trades or redeeming assets. After the transition, LUMIA will seamlessly replace ORN across all of Binance’s services, ensuring a smooth rebranding process for users.
