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Binance Will Support the Orion (ORN) Mainnet Swap and Rebranding to Lumia (LUMIA)

Binance Will Support the Orion (ORN) Mainnet Swap and Rebranding to Lumia (LUMIA)

2024-09-30 06:00

This is a general announcement. Products and services referred to here may not be available in your region.

Fellow Binancians,

Binance will support the Orion (ORN) mainnet swap and rebranding to Lumia (LUMIA).

At 2024-10-15 03:00 (UTC), Binance will delist all existing ORN spot trading pairs (i.e., ORN/BTC and ORN/USDT) and cancel all pending ORN spot trading orders. At 2024-10-18 09:00 (UTC), Binance will open trading for the LUMIA/USDT trading pair.

General

  • Deposits and Withdrawals

    • At 2024-10-15 03:30 (UTC), deposits and withdrawals of ORN tokens will be suspended. Users should leave sufficient time for their ORN deposits to be fully processed prior to this time. 

    • Deposits of LUMIA will be opened at 2024-10-18 08:00 (UTC).

    • Binance will make a separate announcement after the event is completed to notify users when withdrawal of LUMIA has opened.

    • After the event is complete, deposits and withdrawals of ORN tokens will no longer be supported.

  • Binance will handle all technical requirements for users who are involved in this event.

  • Please note that the total token supply will increase from 92,631,255 ORN to 238,888,888 LUMIA after the rebranding. Users can refer to the project tokenomics and announcement for more information.

Token Swap and Rebranding

  • ORN tokens will assume the ticker of LUMIA tokens on Binance.

  • All ORN tokens will be swapped to LUMIA at a ratio of 1 ORN = 1 LUMIA.

Spot

  • At 2024-10-15 03:00 (UTC), Binance will delist and cease trading on all spot trading pairs for ORN. 

  • The exact trading pairs being removed are ORN/BTC and ORN/USDT.

  • All trade orders will be automatically removed after trading ceases in each respective trading pair.

  • Binance will terminate Trading Bots services for the aforementioned spot trading pairs at 2024-10-15 03:00 (UTC) where applicable. Users are strongly advised to update and/or cancel their Trading Bots prior to the cessation of Trading Bots services to avoid any potential losses.

  • Binance Spot Copy Trading will delist the aforementioned spot trading pairs on 2024-10-14 03:00 (UTC). After this time, any outstanding assets will be moved to the Spot Wallet. Users are strongly advised to update or cancel their Spot Copy Trading portfolios prior to 2024-10-14 03:00 (UTC) to avoid potential losses.

  • Binance will open trading for the LUMIA/USDT trading pair at 2024-10-18 09:00 (UTC).

Margin

  • Binance Margin will delist ORN from Cross and Isolated Margin at 2024-10-09 06:00 (UTC). The ORN/BTC and ORN/USDT cross margin pairs, as well as the ORN/USDT isolated margin pair will be removed from Margin. 

    • At 2024-10-03 06:00 (UTC), Binance Margin will suspend isolated margin borrowings on the aforementioned isolated margin pair. At 2024-10-09 06:00 (UTC), Binance Margin will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned isolated margin pair, which will then be removed from isolated margin.

    • At 2024-10-03 06:00 (UTC), Binance Margin will suspend cross margin borrowings on the aforementioned token(s). At 2024-10-09 06:00 (UTC), if users hold both collateral and liabilities of the aforementioned token(s), the collateral will be used to repay the respective liabilities. If there are remaining collateral or liabilities of the aforementioned token(s), one of two options below will occur:

      • If users only hold the aforementioned token(s) in the form of collateral: 

        • If the Collateral Margin Level (CML) is above 2, the aforementioned token(s) will be transferred to users’ Spot Wallets, up to the point when the CML reaches 2. The remaining tokens in their Cross Margin accounts that are to be delisted will then be fully sold. 

        • If the CML is below 2, the remaining tokens in users’ Cross Margin accounts that are to be delisted will be fully sold. 

      • If users only hold the aforementioned token(s) in the form of liabilities:

        • If CML is at or above 2, pending orders will not be affected. 

        • If the CML is below 2, all pending orders in their Cross Margin accounts will be canceled. 

        • The system will then sell other collateral tokens to buy and fully repay the delisting token(s)’ liabilities.

  • Please note that users will not be able to update their positions during the delisting process, and they are strongly advised to close their positions and/or transfer their assets from Margin Wallets to Spot Wallets prior to the cessation of margin trading at 2024-10-09 06:00 (UTC). Binance will not be responsible for any potential losses.

  • Portfolio Margin users are advised to transfer the aforementioned token(s) out of their Margin Wallets to their Spot Wallets and to top up their margin balance before 2024-10-09 06:00 (UTC) where applicable. Users should monitor the Unified Maintenance Margin Ratio (uniMMR) closely to avoid any potential liquidation that may result from the removal of the aforementioned token(s) from the Margin Wallet.

  • All ORN balances in Cross Margin Wallet under the Portfolio Margin account will be automatically converted to USDT from 2024-10-09 06:00 (UTC). The conversion may take approximately 24 hours or longer. Binance Margin will not be liable for any losses on new positions during this period that may incur due to the conversion of funds. Refer to this FAQ for more information. 

  • A separate announcement will be made for relisting. 

Loans

  • From 2024-10-09 03:00 (UTC), Binance Loans (Flexible Rates) and VIP Loan will close all outstanding loan positions for ORN (both loanable tokens and collateral tokens will be closed). Users are strongly advised to repay their outstanding ORN loans before 2024-10-09 03:00 (UTC) to avoid any potential losses.

  • Please refer to the Binance Loans (Flexible Rates) and VIP Loan FAQs for more information. More details are also available in the Binance Loans and VIP Loan Terms and Conditions.

Simple Earn 

  • From 2024-10-11 03:00 (UTC), Binance Simple Earn will cease support for ORN Simple Earn Flexible Products. Subscriptions will no longer be available. 

  • From 2024-10-11 03:00 (UTC), all remaining ORN Flexible Products positions, together with any accrued rewards, will be automatically redeemed to users’ Spot Wallets. Users can choose to redeem their assets from ORN Simple Earn Flexible anytime beforehand.

  • After 2024-10-18 09:00 (UTC), Binance Simple Earn will resubscribe the converted LUMIA assets for Flexible Product for impacted users, according to the above swap ratio after the event is complete. 

Binance Pay

  • At 2024-10-15 03:00 (UTC), Binance will remove ORN from the list of supported cryptocurrencies on Binance Pay.

Gift Card

  • At 2024-10-15 03:00 (UTC), Binance will no longer support the creation of ORN Gift Cards.

    • While users may proceed to redeem any unredeemed ORN Gift Cards for ORN tokens before 2024-10-15 03:00 (UTC), the redeemed tokens will be subject to automatic conversion to the LUMIA tokens.

    • After 2024-10-15 03:00 (UTC), all unredeemed ORN Gift Cards will be automatically converted to the LUMIA tokens.

Convert

  • Binance Convert will maintain a sell-only function for ORN and all associated pairs from 2024-10-10 03:00 (UTC) to 2024-10-15 02:00 (UTC). Binance Convert will subsequently delist ORN and all associated pairs at 2024-10-15 02:00 (UTC).

Convert Low-Value Assets 

  • Convert Low-Value Assets will delist ORN at 2024-10-14 02:00 (UTC). Users may choose to convert the low-value assets beforehand. 

Binance Auto-Invest

  • Binance Auto-Invest will delist ORN after 2024-10-09 03:00 (UTC). Users may choose to remove the plan(s) beforehand. Otherwise, the next recurring cycle of the aforementioned token(s) will fail.

Buy & Sell Crypto

  • At 2024-10-10 03:00 (UTC), Buy & Sell Crypto will delist ORN and all associated pairs.

Note: There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.

Thank you for your support!

Binance Team

2024-09-30

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Binance reserves the right in its sole discretion to amend or cancel this announcement at any time and for any reasons without prior notice.

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