Press Releases

Binance Confirms Support for Lumia Token Swap Ahead of New Chain Launch

Published

3 months ago

September 30, 2024

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September 30, 2024 – Cayman Islands, Cayman Islands

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

Binance’s decision to support the swap will enable ORN holders to access the new Lumia token (LUMIA) that will be credited to their Binance accounts automatically following the upgrade.

Binance will also halt withdrawals and deposits ahead of the upgrade to ensure the process is completed seamlessly. ORN to LUMIA tokens will be swapped on a one-to-one basis.

Token swap approaches as Lumia prepares to launch

The Lumia TSE is one of the final key deliverables to be ticked off before the new chain can proceed with its launch.

Binance’s decision to support the event will significantly aid coordination, providing a centralized platform that’s well equipped for overseeing the process.

While there is no obligation for ORN holders to utilize Binance in order to have their balances swapped for LUMIA, it will form the preferred route for many on account of its convenience.

On October 15, 2024, at 08:30 p.m. PST, Binance will suspend ORN deposits and withdrawals before conducting the TSE.

It will then enable LUMIA deposits on October 18, 2024, at 1:00 a.m. PST.

While ORN holders don’t need to concern themselves with the details – since Binance will automate everything – it’s worth noting that the LUMIA token will have a new supply of 239 million.

The new LUMIA token will be used to support network governance, while a deflationary mechanism built in should ensure that long-term incentives between HyperNode operators and network users are aligned.

Aside from being used as the chain’s native gas token, LUMIA will also be required to access premium features – and there is also talk of holders being airdropped tokens by other projects launching on Lumia.

RWAs and DeFi on a dedicated layer

Following completion of the token swap, LUMIA holders will be eagerly looking forward to the mainnet launch of Lumia Chain – and they shouldn’t have long to wait.

The impending mainnet deployment follows on from a successful HyperNode sale that attracted strong community interest.

Node operators who validate transactions on Lumia will be able to earn network rewards, which will form one of the multiple use cases engineered for the LUMIA token.

Having already won over a string of ecosystem partners, who have committed to supporting the current testnet and subsequent mainnet, Lumia has all the tools in place to fulfill its pledge of creating a scalable chain where tokenized RWAs and DeFi can coexist.

Given that on-chain RWAs (real-world assets) are predicted to become a trillion-dollar industry in the next decade, it’s easy to see the bull case for Lumia and its eponymous token if it can capture even a slice of this action.

The combination of deep liquidity and optimum capital efficiency – plus the availability of compliant frameworks to support security token trading – means Lumia has all the ingredients in place to become a hub of RWA activity.

Before all that can occur, however, there’s a token swap to complete, and then the new chain to launch.

About Lumia

Lumia is the world’s first next-gen modular layer two designed with deep liquidity, unmatched capital efficiency and essential infrastructure for the future of DeFi, and specifically RWAs.

Lumia bridges the gap between physical assets and digital finance, making tokenized assets easily accessible on the blockchain – pioneering the next evolution of finance.

Learn more at the website.

Contact

Lumia Foundation

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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Press Releases

WhiteBIT’s Institutional Focus Drives Trading Volume To Record $2.7 Trillion in 2024

Published

4 days ago

December 19, 2024

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December 19, 2024 – Vilnius, Lithuania

Europe’s leading cryptocurrency exchange, WhiteBIT, concludes the year with notable achievements.

The latest estimates reveal the company’s capitalization has reached $38.9 billion, while the annual trading volume surged to $2.7 trillion – a 200% increase compared to the previous year.

These figures encompass all exchange markets (spot and futures), showcasing the company’s rapid growth and the increasing trust of its users.

For context, WhiteBIT’s trading volume surpassed major players like Kraken, whose annual trading volume stood at $628 billion.

WhiteBIT’s trading volume exceeds the GDP (gross domestic product) of countries like Italy or Canada and approaches the GDP of France, valued at $3 trillion.

This milestone reflects the exchange’s innovative strategies and strategic focus, according to Volodymyr Nosov, founder and CEO of WhiteBIT, who said,

“Reaching $2.7 trillion is the result of our dedicated teamwork and the trust of our clients.

“We remain committed to developing cutting-edge technologies tailored to the needs of both retail and institutional traders.”

Top two in traffic

In the fall of 2024, WhiteBIT secured its position as the second-most visited crypto exchange, with 33 million visits to the platform.

This achievement positions it just behind Binance, reflecting the steady interest in WhiteBIT’s services.

Key drivers of growth

One of the primary contributors to WhiteBIT’s record trading volume has been the onboarding of institutional clients.

The exchange introduced a market maker program tailored to the requirements of large-scale traders.

With low fees and rebates as high as -0.01%, the program provided conditions for high-frequency trading, drawing professional traders to the platform.

Institutional loans also became a cornerstone for building trust within the professional community, enabling large-scale transactions.

The platform’s technical infrastructure also contributed, with features such as colocation to reduce latency, sub-accounts for strategy diversification and a robust API supporting its services for institutional clients.

The introduction of a new affiliate program contributed by engaging communities of retail traders, supporting user acquisition and enhancing trading activity, which played a role in WhiteBIT’s strong performance.

Currently, the exchange serves over 1,300 institutional clients.

Expanding global reach

Today, over 30 million people worldwide use services and products from the WhiteBIT Group holding.

These include the centralized exchange WhiteBIT, the crypto payment solution Whitepay, the DEX (decentralized exchange) WhiteSwap, the NFT marketplace white.market and the gaming platform Pocket Rocket.

Additionally, WhiteBIT Group encompasses Whitechain – its proprietary blockchain – and WBT (WhiteBIT Coin), which has experienced 349.4% growth over the year.

With over 600 trading pairs and more than 300 digital assets, WhiteBIT continues to strengthen its competitive edge in the global market.

In a recent interview, CEO Volodymyr Nosov confirmed WhiteBIT’s plans to enter the US market.

Commitment to security

WhiteBIT stands out as one of the most secure cryptocurrency exchanges globally.

Ranked among top five in security by CER.live, it is the first crypto exchange to achieve the highest-level CCSS (cryptocurrency security standard) certification.

The platform also holds a PCI DSS (payment card industry data security standard) certification, safeguarding customer payment information and has been recognized by Hacken for excellence in cybersecurity.

WhiteBIT remains committed to continuous growth, solidifying its position in the international market and expanding its impact on the global crypto ecosystem.

About WhiteBIT

WhiteBIT is the largest European centralized cryptocurrency exchange founded in Ukraine in 2018, offers over 600 trading pairs, more than 300 assets and supports nine fiat currencies.

As part of the WhiteBIT Group holding, the platform serves more than 30 million customers globally.

WhiteBIT collaborates with Visa, FACEIT, FC Barcelona, Trabzonspor, the Ukrainian national football team, and lifecell.

The company is dedicated to driving the widespread adoption of blockchain technology in Ukraine and worldwide.

Contact

WhiteBIT PR service

This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.

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Bitcoin Core

Youngest Ever Bitcoin Core Contributor Gets Bitcoin Scholarship

Published

4 days ago

December 19, 2024

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Chaincode Labs, a privately funded Bitcoin research and development centre based in New York City, has awarded its inaugural Bitcoin Scholarship to 17-year-old Ishaana Misra, the youngest contributor to Bitcoin Core in the technology’s 15-year history.

Misra was selected from 232 applicants globally for the scholarship, covering one year’s academic expenses. She can renew it annually to potentially fund her entire undergraduate education.

“This scholarship exists to encourage young people to consider a career in Bitcoin open source development,” said Adam Jonas, CEO of Chaincode Labs. “In order to do that, they need experience. This seemed like the right kind of incentive where we are helping them continue their education and they spend their summers contributing to Bitcoin open source software.”

Misra started programming at 12, but her Bitcoin journey began before high school when she read the whitepaper. She quickly went from running a node to contributing to Bitcoin Core, teaching herself C++.

“I’m usually the youngest at Bitcoin developer meetups, but I don’t think about it much anymore,” said Misra. “Your work really speaks for itself. If you’re interested, people will take you seriously.”

It’s inspiring to see the younger generation getting involved with Bitcoin development and being supported, as it will encourage more youth to contribute.

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Press Releases

MicroBT Unveils New-Gen WhatsMiner M6XS++ Series at Bitcoin MENA 2024

Published

2 weeks ago

December 9, 2024

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Abu Dhabi, December 9, 2024 – MicroBT, a world-leading Bitcoin ASIC manufacturer, has once again showcased its technological prowess and innovation-driven approach by introducing the latest WhatsMiner M6XS++ series at the Bitcoin MENA 2024 Conference in Abu Dhabi, UAE.

During the conference, Dr. Zuoxing Yang, the Founder and CEO of MicroBT, delivered a keynote address titled “Lead Great and Green Mining Forward.” In his speech, he unveiled advancements in solar power mining technology, highlighted the innovative heat utilization in hydro-cooling mining systems, and introduced the new WhatsMiner models.

The mining industry stands at a pivotal juncture, with green mining emerging as a forefront trend for the future. Dr. Yang emphasized the transformative potential of solar mining, predicting a significant reduction in electricity costs for solar power mining to approximately 3.4 cents USD per kWh by 2025. Furthermore, WhatsMiner’s groundbreaking high-temperature water outlet hydro-cooling technology is pushing the boundaries of comprehensive heat recovery. This technology enables the WhatsMiner hydro-cooling system to either minimize mining cooling needs or repurpose heat for advanced applications, such as industrial steam production, seawater desalination, and heating systems, thereby reinforcing MicroBT’s prominent position in the green mining sector.

Subsequently, Dr. Yang unveiled the latest generation of WhatsMiner products. The air-cooled M60S++ boasts a hashrate of up to 226 TH/s with a power efficiency of 15.5 J/T. The hydro-cooled M63S++ offers a hashrate of up to 478 TH/s, maintaining the same power efficiency of 15.5 J/T. The immersion-cooled M66S++, meanwhile, provides a hashrate of up to 356 TH/s, also with a power efficiency of 15.5 J/T.

Additionally, the WhatsMiner line includes the air-cooled M61S+ with a hashrate of up to 236 TH/s and a power efficiency of 17 J/T. The hydro-cooled M64S+ and M65S+ feature hashrates of up to 236 TH/s and 440 TH/s respectively, both with a power efficiency of 17 J/T. Notably, the outlet water temperature for both the M64S+ and M65S+ can reach up to 80°C.

In conclusion, Dr. Yang proudly announced MicroBT’s steadfast dedication to pioneering sustainable and eco-friendly mining practices, heralding a new era of green mining excellence and visionary leadership. With the unveiling of the latest WhatsMiner products, MicroBT stands poised and confident to decisively spearhead the green mining revolution.

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