- Lumia launches a layer 2 network for Real World Assets to enhance on-chain liquidity and broaden access.
- The network integrates Polygon AggLayer for near-instantaneous cross-chain transactions and better user experience.
Lumia has announced the deployment of its layer 2 (L2) network, specifically designed for Real-World Assets (RWAs). This development will help increase on-chain liquidity, expand the audience, and open up new possibilities for tokenized assets.
Lumia’s modular L2 network provides higher capital efficiency, making it one of the pioneering rollups tailored for RWAs. Some of the assets that the network allows for tokenization include real estate, commodities, art, equities, and financial indexes.
Polygon AggLayer Integration Enhances Cross-Chain Transactions
Lumia’s L2 network incorporates Polygon AggLayer, which supports fast cross-chain transfers through ZK proofs. This integration improves the user experience through faster loading times. Also, Lumia Stream, the platform’s liquidity module, enhances capital management to enable traders to get the maximum value from every trade made on Lumia L2.
Lumia Stream aims to solve the issue of liquidity fragmentation by offering deep liquidity. It integrates the most liquid centralized exchanges (CEXs) and decentralized exchanges (DEXs) in one decentralized source that allows DeFi protocols to access large liquidity pools. For liquidity providers, Lumia Stream provides unmatched capital productivity, as seen in the 1-inch RFQ, where $8M in volume was processed using $30K in capital for 28 assets.
Fragmentation in the current DeFi market is evident, with Ethereum holding a significant portion of DeFi Total Value Locked (TVL) at $59 billion. However, liquidity is dispersed across numerous chains, with the next top eight EVM chains contributing another $22 billion. Lumia aims to consolidate this liquidity for more efficient trading and borrowing.
Lumia Rebrands and Introduces New Token
With the mainnet launch, Lumia will rebrand and swap the existing $ORN token to $LUMIA. The new token, $LUMIA, will have multiple uses for the network participants: transaction fees and node operations. This change of brand is in harmony with Lumia’s business strategy to be one of the top L2 networks for RWAs.
Lumia $ORN HyperNodes Sale Begins ⚡️
Our highly-anticipated node sale launches on July 18th at 2 PM CET.
Starting at only $1000 per node, it’s a first come, first served opportunity you don’t want to miss.
Read more about how it all works 👇https://t.co/uGCSglRv1q pic.twitter.com/UjupNVdcnV
— Lumia (@BuildOnLumia) July 11, 2024
The L2 launch of Lumia comes with a strong list of partners and service providers. Builders are also to receive grants to ensure that they adhere to the laid down standards from the inception of the project. The objective of this initiative is to encourage partners and users to discover economic possibilities and the financial sector in Lumia. With the increasing awareness and demand for RWAs, Lumia is well placed to gain market share in the sector.
Lumia’s partnership with Polygon AggLayer clearly demonstrates its focus on performance and the user experience. The zero-knowledge proofs that allow for near-instantaneous cross-chain transactions also improve usability and define a new benchmark for L2 solutions.
It is worth noting that Lumia recently rebranded its name from Orion. As stated in the announcement, Orion has led in liquidity aggregation, which is rare in the Defi market. It aimed at offering a full-fledged solution for individual retail consumers to get DEX and CEX liquidity.
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