Luan Warped by Glue
Because Luan Layers (or panels) are glued together, this will actually reduce the warping of the material when it is installed as underlayment for your Vinyl or Laminate Do-It-Yourself Home Projects. If luan plywood is warping, try using nails/screws and concrete adhesive to maintain the positioning of the luan underyment and prevent buckling of your finished floor.
When it comes to Finishing
When it comes to finishing luan plywood board, the best option is usually a dark stain and several coats of polyurethane clear finish will bring luan plywood to a high luster. The best way to apply the stain is to have it brushed in or alternatively you can roll it in and then allow for the finish to dry and then use a polyurethane coating. Polyurethane can be brushed or rolled, onto the luan wood board, and once, finished and let to dry, you have the option for applying more coats as needed. Use the manufactuers guidelines with respect to applying additional coats of polyurethane.