LuminaTokenV2 on Base
mainnet (0xa357…223C; always read from /health.contracts.luminaToken).
Hard cap and distribution
The supply is capped at 100,000,000 LUMINA. There is no inflation mechanism — the cap is enforced in the token contract itself.| Allocation | LUMINA | Share | Purpose |
|---|---|---|---|
| BondVault | 70,000,000 | 70% | Backs ClaimBond redemptions for the lifetime of the protocol. |
| CEX liquidity | 14,000,000 | 14% | Centralised exchange listings + market-making inventory. |
| Founder | 8,000,000 | 8% | Vests via FounderVestingV2 (see below). |
| LBP (Liquidity Bootstrapping Pool) | 5,000,000 | 5% | Public price-discovery launch. |
| Treasury | 3,000,000 | 3% | Operating runway, audits, integrations. |
Burn — 85% of every premium
When a buyer pays a USDC premium,AdaptiveFeeDistributor splits the fee
85 / 8 / 2 / 5:
| Slice | Destination |
|---|---|
| 85% | Burn (TWAP-bought LUMINA → burn address) |
| 8% | Buyback (BuybackEngine) |
| 2% | Ops (gas reimbursements, infra) |
| 5% | Maintenance reserve |
TWAPBurner V2 swaps for LUMINA on Uniswap (Base) using a 1-hour TWAP
(MEV-resistant), then burns. This applies to both premium fees and
the marketplace’s 3% fee (1.5% seller + 1.5% buyer) — every protocol fee
stream flows through the same AdaptiveFeeDistributor schedule.
Auto-burn trigger
TWAPBurner V2 fires automatically once either condition is met:
- Accumulated USDC fees ≥ $500, or
- 50 successful policy purchases since the last burn.
Buyback + Double Burn
The BuybackEngine (0x56B5…d8B4) implements a commit-reveal scheme
(MEV protection, audit fix M-10) that buys LUMINA from the open market on
a schedule independent of the auto-burn flow. The resulting LUMINA is
burned again (“Double Burn”) rather than redistributed — the protocol
treats LUMINA accumulated by buyback as permanent supply reduction, on
top of the 85% premium burn.
This means LUMINA has two deflationary forces running in parallel:
- Premium burn. 85% of every premium → LUMINA → burned.
- Buyback burn. Independent market buys → LUMINA → burned.
Three roles for the token
- Governance. Parameter updates (bond maturities, payout ratios, oracle keys, fee splits) are voted by LUMINA holders.
- Payout asset. ClaimBond redemption at 730d converts the bond’s USD face to LUMINA at the protocol’s reference LUMINA/USD price.
- Bond pricing snapshot. At policy purchase, the LUMINA/USD price is snapshotted into the policy (audit fix H-6). Redemption math is bounded by this snapshot to protect buyers from oracle drift between purchase and trigger.
FounderVesting V2 — three release paths
The 8M founder allocation is locked inFounderVestingV2 (0xfF4D…2832,
sprint FV override). Tokens are released via whichever path triggers
first:
| Path | Condition |
|---|---|
| PATH 1 — AltSeason | 2-of-3 conditions sustained 1 day — (A) ETH/BTC > 0.050, (B) ETH > $4,000, (C) Aave V3 USDC variable borrow rate > 7% APY. |
| PATH 2 — ETH bull | ETH/USD > $5,000 sustained 1 day (independent of PATH 1). |
| PATH 3 — Fallback | Time-based after 1,095 days (3 years) from deploy, independent of price. |
luminaOracleV2 (audit fix; previously pointed at
the deprecated capacityOracle). The vesting math itself was hardened
with 88 tests in sprint FV (Echidna + edge + fork) and is governed by
ADR-025.
Live token addresses
Always read from/health.contracts rather than hard-coding — addresses
change between V5.x deploys until mainnet.
| Contract | Address |
|---|---|
| LuminaTokenV2 | 0x62C0…6680 |
| BondVault | 0x193a…B6EC |
| ClaimBond | 0xaa57…1FB4 |
| TWAPBurner V2 | 0x242d…1bC0 |
| AdaptiveFeeDistributor | 0xeC78…9D54 |
| BuybackEngine | 0x56B5…d8B4 |
| FounderVestingV2 | 0xfF4D…2832 |
| LuminaOracleV2 | 0x9bfa…71dD |
See also
- Claim Bonds — what gets redeemed in LUMINA.
- BondVault throttle — per-epoch redemption cap.
- Lifecycle — where the 85% burn lands in the flow.