LUMINARY
Luminary silver-blue illustrated world

THE MECHANISM / PRIVATE BY DESIGN

The protocol

Your order stays private. The outcome becomes public.

A scheduled, sealed call auction for tokenized stocks. One reference-bounded clearing price, settled in tokenized treasuries.

Enter the story
LUMINARY / PROTOCOL
02 / THE PROTOCOLSEALED → CLEARED → PUBLISHED

FROM INTENT TO PRINT

01

Seal your intent.

Place a limit order or accept the auction price. Your order stays private while it waits for the call.

Inside the protocol
THE QUIET BEFORE THE CALL
PRIVATE COLLECTION01
THE QUIET BEFORE THE CALLLUMINARY / 01
A SHARED MOMENT OF CLARITY
UNIFORM CLEARING02
A SHARED MOMENT OF CLARITYLUMINARY / 02
PRIVATE INTENT. OPEN OUTCOMES.
PUBLIC OUTCOME03
PRIVATE INTENT. OPEN OUTCOMES.LUMINARY / 03
01PRIVATE COLLECTION
02UNIFORM CLEARING
03PUBLIC OUTCOME

THE PATH FROM INTENT TO PRINT

A deliberate sequence.

From the Luminary product and technical documents.
Explore the complete flow in the terminal.

01 / LUMINARY

Seal your intent.

Choose a limit order or an order at the auction price. Orders collect privately ahead of the scheduled call. Resting treasury collateral can accrue its underlying NAV yield.

02 / LUMINARY

Meet at one price.

The clearing engine selects a uniform price that maximizes crossed volume within the reference band. It respects order limits and breaks price ties by minimizing imbalance.

03 / LUMINARY

Settle. Then publish.

The specified auction proof checks reference bounds, limits and conservation. The clearing price and crossed volume become public immediately after the call; identities and individual orders remain private.

A CLOSER LOOK

The architecture behind the moment.

01

Reference-anchored pricing

Stocks use a Chainlink reference multiplied by the asset’s conversion factor, bounded by a configured cap. Fund auctions anchor to NAV. The reference band constrains the clearing price; it does not guarantee execution.

02

One auction, one settlement

AuctionPool and AuctionVerifier coordinate the intended auction settlement. PrintRegistry records the clearing price, volume and timestamp. The backend specification calls for deterministic clearing that third parties can recompute.

03

Private block flow

The RFQ lane provides a two-party sealed cross between scheduled auctions. It is designed for size that needs a direct, reference-anchored negotiation.

04

Verification with boundaries

Solvency proofs and view keys support verification. The specification includes a signed-clearing-digest path before a full proof upgrade. This site creates illustrative records, not cryptographic attestations.

Assets and prices shown here are illustrative. See Risk & eligibility for the current boundaries.

THE STORY CONTINUES

Understand the flow. Then make your move.

Explore the auction rhythm