Legal

1. Terms of Service

By accessing or using the Lumina Protocol website, smart contracts, API, SDK, or related interfaces (collectively, the “Service”), you agree to the following terms. The Service is provided on an “as is” and “as available” basis, without warranties of any kind, for evaluation on a public test network.

[PLACEHOLDER — pending legal review] Binding terms covering eligibility, acceptable use, intellectual property, limitation of liability, indemnification, dispute resolution, governing law, and termination are to be drafted and approved by legal counsel prior to any mainnet deployment.

2. Risk Disclosure

Parametric coverage and on-chain financial primitives carry material risks. Even on testnet, you should understand the following risk factors, which would apply with real economic consequence on mainnet:

• Oracle risk. Triggers and redemptions depend on external price oracles (Chainlink BTC/USD and ETH/USD feeds, and the protocol’s LuminaOracleV2). Feed deviation, staleness, or manipulation can cause spurious or denied triggers and incorrect payouts.
• Liquidity risk. The secondary marketplace and the BondVault reserve may lack sufficient liquidity to exit positions at expected prices, or at all. Bonds mature in 730 days; early exit is not guaranteed.
• $LUMINA token price risk. Bond redemptions pay out in $LUMINA at maturity. The value of $LUMINA is volatile and may decline significantly. The deflationary burn mechanism does not guarantee any price floor or appreciation.
• Smart-contract risk. The protocol’s contracts may contain bugs, vulnerabilities, or economic design flaws. Audits (including internal reviews) reduce but do not eliminate this risk. Upgradeable (UUPS) contracts may change behavior over time.
• Regulatory risk. The legal and regulatory treatment of parametric coverage, tokenized bonds, and protocol tokens is uncertain and varies by jurisdiction. Future regulation may restrict or prohibit access to the Service. Lumina does not offer regulated insurance and makes no representation that the Service is available or lawful in any particular jurisdiction.

[PLACEHOLDER — pending legal review] A complete, jurisdiction-specific risk disclosure and any required investor/consumer warnings are pending legal review.

3. Privacy

Interactions with public blockchains are inherently transparent: wallet addresses, transactions, and on-chain activity are publicly visible and permanent. The API may process technical metadata (such as API keys, IP addresses for rate limiting, and request logs) to operate the Service.

[PLACEHOLDER — pending legal review] A binding Privacy Policy describing what data is collected, how it is used and retained, third-party processors, and user rights is pending legal review.