Shields

The contracts that decide whether a parametric condition fired.

A Shield is one parametric product. Each Shield contract owns the logic for verifying a specific condition (e.g. “BTC dropped ≥20% in the last hour”) and minting bonds when that condition fires.

Shape

Field	Meaning
productId (bytes32)	keccak256(canonicalName) — e.g. keccak256("FLASHBTC24-001")
payoutRatioBps	Cents-on-the-dollar paid out when triggered (8000 = 80%)
triggerProbBps	The probability the condition fires (drives premium pricing)
marginBps	Safety margin built into the premium
durationSeconds	Coverage window length
active	Whether new policies can be purchased

Discover the live set with GET /products or lumina.products.list().

Live products (Base Sepolia, V5.1)

Each row is verified against /products and keccak256(name).

Name	productId	Duration
FLASHBTC1H-001	0xe87625ef…dfeaddd	1 h
FLASHBTC4H-001	0x0c8e45ca…a03d	4 h
FLASHBTC24-001	0xdc5bcc7d…a7b9	24 h
FLASHBTC48-001	0xb6306087…1ee8	48 h
FLASHETH1H-001	0x6cedbccf…8915	1 h
FLASHETH24-001	0xcc03aef9…f240	24 h
FLASHETH48-001	0x89a37df7…712d	48 h
MICRODEPEG-001	0x317c1a64…3640	7 d
RATESHOCK-001	0x8ae1e414…347f	7 d

Verifying a productId yourself

import { keccak256, toUtf8Bytes } from 'ethers'
keccak256(toUtf8Bytes('FLASHBTC24-001'))
// → 0xdc5bcc7d6e2e9ca89d46d4f6672db80985d5e86509243dcca44a4e87d871a7b9

The productId is a hash, not an address. The 20-byte addresses you may have seen in old docs were a documentation bug — they’re always 32 bytes.

How a Shield gates triggers

Each Shield has its own submitTrigger(payload, signature). The contract:

1. Verifies the EIP-712 signature against the oracle’s known signer.
2. Checks the price-condition logic (different per Shield: a flash-crash check for FLASHBTC*, a sustained-deviation check for MICRODEPEG, etc.).
3. Calls BondVault.mint(buyer, faceValue) when the condition holds, sending the buyer an ERC-1155 receipt.

There is no “claim” step the buyer has to perform. Once the condition is proven, the bond shows up.