From the Blogs

Hello LUMOS community,

There’s been some confusion around the recent 90% $LUMOS burn on the Stellar network, so here’s a clear explanation.

What Happened

The burn was carried out by moving tokens into a wallet with its master key disabled. This means:

• Those tokens are permanently inaccessible.
• No one, including us, can ever move them.
• The end result is a 90% supply burn.

It’s true that sending the tokens to the issuing account would have been the ideal method (since explorers automatically reflect it that way). Instead, the tokens were locked in a wallet — an oversight in execution, but with the same final effect: the supply is gone forever.

Why the Supply Looks Different

On Stellar, burning doesn’t always update “total supply” the way people expect. For example, when Stellar itself burned 50% of XLM back in 2019, the explorer still showed the original total supply.

The reason is simple: explorers only reduce supply automatically when tokens are sent to the issuing account. Since our tokens are locked in a wallet, explorers like Stellar Expert will still display them unless they add a tag or note.

Next Steps

• Explorer Update: We’re reaching out to Stellar explorers to add a [Burn Tag] on the locked wallet so it’s clear these tokens are permanently out of circulation.
• Exchange Listings: Aggregators like CoinGecko and upcoming CEX listings will reflect the correct circulating supply.
• Transparency: The burn wallet is public. Anyone can verify that the 90% is locked and unspendable.

Bottom Line

Yes, the execution was slightly different than planned, but the outcome remains the same: 90% of $LUMOS supply is permanently gone.

This does not affect Lumos Core’s roadmap, listings, or cross-chain expansion. The fundamentals remain intact, and the future of $LUMOS is as strong as ever.

Thank you all for your continued trust and support. The journey has only just begun, and the best is yet to come.

— The Lumos Core Team