Lucent
Lucent is a Stellar-native collateralized debt protocol. Users deposit XLM and mint starUSD, an overcollateralized USD stablecoin backed by protocol-held collateral.
Lucent uses a Liquity v2-style design adapted for Stellar and Soroban: fixed-rate open-term borrowing, user-selected interest rates, Stability Pool liquidations, redemptions ordered by borrower interest rate, and protocol interest routing.
Learn the core borrowing, peg, and collateral model.
Understand mint authority, burning, backing, and trustline requirements.
See the global and XLM branch contract architecture.
Review liquidation, redemption, oracle, and shutdown behavior under stress.
Launch Scope
Lucent launches with XLM collateral only. The architecture keeps a governed path to additional collateral branches later, including long-term support for real-world assets.
Core Mechanisms
- Borrowers open Troves by depositing XLM and minting starUSD.
- Each Trove has an owner, collateral balance, debt balance, selected annual interest rate, accounting snapshots, and optional delegate permissions.
- starUSD supply changes only when protocol debt changes.
- Unsafe Troves are liquidated through the Stability Pool, JIT liquidation, or redistribution.
- starUSD holders can redeem 1 starUSD for 1 USD worth of collateral, starting with the lowest-rate Troves.
- Borrower interest is protocol yield and can be routed to Stability Pool depositors, DEX liquidity incentives, and protocol reserves.
Agent Access
This site is built with Vocs. Agents can use /llms.txt, /llms-full.txt, and Markdown routes such as /protocol/overview.md.