Kingdom Death: Monster
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How many innovations can a settlement make in one settlement phase?
The best-supported reading from forum discussion; not confirmed by the designer.
One: the Lantern Hoard's innovate action is limited to once per settlement phase (or per lantern year), unless another card or effect allows more, and the extra innovation still costs its full price. Buildings are limited only by what you can pay. A special showdown does not reset the limit because it happens inside the same phase.