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See /concepts/lifecycle for the end-to-end flow (policy → trigger → bond → wait/sell decision).
The Lumina Bond Marketplace is the on-chain secondary market for ClaimBond ERC-1155 tokens. Holders who can’t (or don’t want to) wait until 730-day maturity sell their bonds for USDC today; buyers who want redemption upside pick them up at a discount and redeem in LUMINA at maturity.

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TL;DR

  • P2P trading. Listings are on-chain; sellers escrow bonds in the marketplace contract until filled or cancelled.
  • USDC settlement. Both sides settle in USDC — sellers receive USDC, buyers pay USDC.
  • ERC-1155 transfers. Bond ownership moves via safeTransferFrom on ClaimBond (the maturity stays tied to the token, not the wallet).
  • 3% fee — burned. A 3% total fee (1.5% seller + 1.5% buyer, SELLER_FEE_BPS=150 / BUYER_FEE_BPS=150) is taken on each fill and routed through AdaptiveFeeDistributor: the 85% slice is TWAP-burned (LUMINA bought back and burned); the 8/2/5 slices fund buyback / ops / maintenance.
  • Anti-spam floor. minPricePerUnit = $1 (1_000_000 raw, 6-dec USDC). Audit fix M-3.

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What is the marketplace?

Bonds are minted to a wallet when a policy’s parametric trigger fires. They’re an obligation to pay the holder LUMINA at maturity (730 days). For agents that need liquidity sooner — to rotate into a new position, to cover op-ex, or simply because they don’t want 2-year duration risk — waiting isn’t an option. The marketplace solves that. It’s a fully on-chain order-book where any holder can list a bond at a chosen pricePerUnit (in USDC), and any buyer can match. Sellers exit in USDC immediately; buyers acquire bonds they’ll later redeem for LUMINA at maturity. The protocol takes a 3% total fee (1.5% from the seller + 1.5% from the buyer) that is burned (split via the AdaptiveFeeDistributor 85/8/2/5 schedule that applies to every protocol fee stream). Listings are owned by the seller until filled or cancelled. Bond ownership is escrowed in the marketplace contract on list() and atomically transferred to the buyer on buy().

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How it works

  1. Policy bought. Agent pays USDC premium and receives an active policy.
  2. Trigger fires. The shield mints a ClaimBond (ERC-1155, 800per800 per 1k cover) to the buyer’s wallet.
  3. Seller lists. One-time marketplace.approveBonds() (ERC-1155 approval), then marketplace.list({ bondId, amount, pricePerUnit, expiresAt }). The bond tokens are escrowed in the marketplace contract.
  4. Buyer browses & fills. Reads marketplace.listings() / marketplace.listing(id) / marketplace.estimateBuyPrice(...), approves USDC via marketplace.approve(usdcAmount), then calls marketplace.buy({ listingId, amount }).
  5. Atomic settlement. Seller receives pricePerUnit * amount * (1 - 150 bps) in USDC (1.5% seller fee), and the buyer pays an additional 1.5% on top. The combined 3% fee is sent to AdaptiveFeeDistributor for the standard 85/8/2/5 burn-split.
  6. Buyer holds → redeems. At maturity (730d epoch), buyer calls BondVault.redeem(epochId) and receives LUMINA.

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Fee — 3% burned (1.5% seller + 1.5% buyer)

ItemValue
Total fee300 bps (3%)
Seller fee150 bps (1.5%) — SELLER_FEE_BPS=150, deducted from seller proceeds
Buyer fee150 bps (1.5%) — BUYER_FEE_BPS=150, added on top of the fill price
DestinationAdaptiveFeeDistributor
Burn split85% TWAP-burned LUMINA / 8% buyback / 2% ops / 5% maintenance
V5.4 charges a maker/taker-style split: the seller (maker) pays 1.5% and the buyer (taker) pays 1.5%, for a 3% total per fill, burned via the same path that handles policy premium fees.

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Anti-spam floor

minPricePerUnit is enforced on-chain at 1_000_000 raw ($1 in 6-dec USDC). Any list() call with pricePerUnit below this floor reverts. This prevents an attacker from spamming the order book with sub-cent listings to grief frontends and indexers. (Audit fix M-3.)

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For AI agents

import { LuminaClient } from '@lumina-org/sdk'

const lumina = new LuminaClient({ apiKey: process.env.LUMINA_API_KEY! })

// One-time approval for the marketplace to move bond tokens on your behalf.
await lumina.marketplace.approveBonds()

// Sell 50 tokens of bond #202805 at $0.97/token, expires in 7 days.
await lumina.marketplace.list({
  bondId: '202805',
  amount: '50',
  pricePerUnit: '970000',                          // 0.97 in 6-dec USDC
  expiresAt: Math.floor(Date.now() / 1000) + 7 * 86400,
})
To buy, browse listings and fill atomically: 
const listings = await lumina.marketplace.listings({ sortBy: 'price-asc' })
const target = listings[0]

const quote = await lumina.marketplace.estimateBuyPrice({
  listingId: target.id, amount: '10',
})

await lumina.marketplace.approve(quote.totalUsdc)
await lumina.marketplace.buy({ listingId: target.id, amount: '10' })
Available SDK methods (@lumina-org/sdk ≥ 0.5.0): marketplace.listings, marketplace.listing, marketplace.stats, marketplace.history, marketplace.myListings, marketplace.list, marketplace.buy, marketplace.cancel, marketplace.approve, marketplace.approveBonds.

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For humans

Prefer the UI? The hosted marketplace lives at lumina-org.com/app/human/marketplace.

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API endpoints

MethodPathStatus
GET/api/v1/marketplace/listingsExisting
POST/api/v1/marketplace/listExisting
POST/api/v1/marketplace/buyExisting
GET/api/v1/marketplace/statsExisting
GET/api/v1/marketplace/historyExisting
GET/api/v1/marketplace/listings/:idExisting

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Smart contract

The marketplace is deployed on Base mainnet at 0xfB3ec1B507DE8a7dB50691a26f872360F0EF71AB. The live address is also exposed via the /health endpoint — agents should always read it from there rather than hard-coding.
Note — Premium for policies is paid in USDC. Bonds in the marketplace are also bought/sold in USDC. Redeem at maturity is in LUMINA — not USDC.