Lumia Prepares to Launch Mainnet, Schedules Token Swap Event With Binance

Binance has confirmed it will support Lumia's imminent TSE (token swap event) and it has now been scheduled.

Binance has announced its support for an upcoming token swap event (TSE) by blockchain startup Lumia, which is nearing the launch of its mainnet.

Upon completion of the TSE on October 15, ORN (old chain) balances will be automatically converted into LUMIA (new chain) at a one-to-one ratio and credited to Binance users’ accounts.

During the TSE, Binance will halt ORN withdrawals and deposits on October 15 at 08:30 p.m. PST and re-enable LUMIA deposits on October 18 at 1:00 a.m. PST.

The TSE is a key step before the launch of the Lumia mainnet, which will be supported by a new token called LUMIA with a total supply of 239 million.

The LUMIA token will be used for network governance, to access premium features and to support a deflationary mechanism that aims to align long-term incentives between HyperNode operators and network users.

There is also the potential for LUMIA holders to be airdropped tokens by other projects launching on the Lumia chain.

Upon completion of the TSE, LUMIA will be used to access the mainnet, which is expected to launch soon.

The launch will follow a successful HyperNode sale that attracted strong community interest.

Node operators that validate transactions on Lumia will earn network rewards as part of the multiple use cases designed for the LUMIA token.

Having secured support from several ecosystem partners for the current testnet and upcoming mainnet, Lumia aims to create a dedicated layer for RWAs and DeFi on a scalable chain.

With on-chain RWAs (real-world assets) set to become a trillion-dollar industry in the next decade, and considering the bull case for LUMIA if it can capture a portion of this activity, the scene is set for an exciting new chain.

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