In a statement made on September 30, 2024, Binance stated that they will support the rebranding of Orion Protocol and that this will be accomplished through a network upgrade.

As part of the transition process, Binance will remove the Orion-Bitcoin (BTC) and Orion-Tether (USDT) trading pairs at 06:00 UTC on October 15, 2024.

On this date, all pending ORN spot trading orders will be canceled and deposits and withdrawals of ORN tokens will be suspended. Binance also made it clear that its users will not be responsible for any losses during the transition period.

Binance will reopen trading for LUMIA/USDT trading pairs at 12:00 UTC on October 18, 2024. On the same day, deposits for LUMIA tokens will begin at 08:00. On the other hand, Binance Margin services will be terminated for ORN at 09:00 UTC on October 9, 2024.

It was stated that users will not be able to update their positions during this transition period and therefore they must close their positions in margin wallets or transfer their assets to spot wallets.

Binance also announced that it will increase the Orion token supply from 92,631,255 ORN to 238,888,888 LUMIA as part of preparations for the transition process. In the announcement, it was emphasized that all ORN tokens will be converted to LUMIA with a ratio of 1 ORN = 1 LUMIA.

Users are encouraged to update or cancel their trading bot services so that they do not experience any problems during the transition process.

Lumia stands out as the first hyper-liquid re-staking layer 2 blockchain introduced by Orion Protocol.

When the protocol introduced Lumia on February 26, 2024, it stated that it would be “a powerful liquidity infrastructure protocol connecting Layer 1s and Layer 2s with unlimited liquidity.” This structure aims to increase the liquidity flow between the centralized exchange (CEX) and the decentralized exchange (DEX).

Orion Protocol announced that it would officially start the transition from ORN to LUMIA on April 4, 2024, and announced that it would organize a token swap event on major crypto exchanges for users to convert their ORN tokens to LUMIA. This event was planned to ensure that users are supported during the transition process.

This step by Binance aims to facilitate the transition to Orion Protocol’s new blockchain Lumia and provide an uninterrupted experience to its users. However, it is of great importance that users be careful in this process and carry out the necessary operations on the specified dates.

It is stated that after the transition is completed, there will be support for LUMIA tokens only; This shows that users need to make the necessary preparations to continue their transactions with new tokens.