iba.txt

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I. IBA

This is the Industrial Bank & Agora.  The currency of the IBA is
zorkmids (zm); the recordkeepor of zorkmids is the President.

Any person CAN join this contract by announcement.  Any party to this
contract CAN leave it by announcement, unless e is involved in a
pending Offer.

The President of the IBA is comex.

II. Summary

- You can join the contract by announcement.  Please join before
  attempting to make Offers or vote ISELL-- your only obligations are
  to uphold the terms of Offers you make.

- You can deposit 4 assets per week for the standard rate; further
  deposits give you diminishing returns to prevent scams, but you can
  still get a good price for up to 10.

- You can always withdraw assets for the standard rate.

- You can intend to sell or buy assets, naming a price; this is known
  as an Offer, and other parties can fill the Offer by announcement.

- ISELL works like SELL, but you can vote ISELL on dependent
  actions as well as decisions.

III. Banking

Every asset has a Rate in zorkmids, intially zero.  The President's report
includes a Rate List containing all nonzero Rates.

IV. Withdrawal

A person CAN withdraw an asset in the IBA's possession if e has at
least its Rate in zorkmids; those zorkmids are destroyed in eir
possession and the IBA transfers the asset to em.

V. Deposits

A person CAN deposit an asset by transferring it to the IBA; e then
gains the Effective Rate in zorkmids.

The Effective Rate for a deposit is its Rate, multiplied by a value
depending on the number of previous deposits made in the same week
with the same Executor, and rounded to the nearest integer:

prev    rate

0-3     1.00
4-6     0.90
7-9     0.80
10      0.73
11      0.62
12      0.50
13      0.38
14      0.26
15      0.18
16      0.12
17      0.08
18      0.05
19      0.03
20      0.01
21-     0.00

VI. Offers

An Offer is an entity with three fields:
  Selling:   (a nonempty list of assets and/or actions)
  For cost:  (a nonempty list of assets and/or actions)
  Repeats:   (a nonnegative integer, or infinity; default 1)

A person CAN create an Offer by announcement, thus becoming its
offerer.  A person CAN destroy an Offer for which e is the offerer by
announcement.

A party (the filler) CAN fill an Offer by announcement if and only if:
 - the offerer is a party, and
 - the offerer has the assets in the 'Selling' field (if any), and CAN
   perform the actions in that field (if any), and
 - the filler has the assets in the 'For cost' field (if any), and CAN
   perform the actions in that field (if any).

When an Offer is filled,
- the IBA acts on behalf of the offerer to transfer the assets in the
  'Selling' field to the filler, and to take the actions in the
  'Selling' field, and
- the IBA acts on behalf of the filler to transfer the assets in the
  'For cost' field to the offerer, and to take the actions in the 'For
  cost' field, and
- the Offer's 'Repeats' field is decreased by one.

An Offer with zero Repeats is automatically destroyed.

To intend to sell X for Y is to create an Offer with X as 'Selling'
and Y as 'For cost'; to intend to buy X for Y is to create an Offer
with X as 'For cost' and Y as 'Selling'; to intend to sell A*X for Y
each is to create an Offer with X as 'Selling', Y as 'For cost', and A
as 'Repeats'; etc.

Examples:
- I intend to sell a WRV for 8 zm.
- I intend to sell 4 G# Credits for 2 zm each.
- I intend buy a Land for 3 zm.
- I intend to sell a WRV for a Land.

VII. Selling Votes

Voting ISELL(X) on a decision is equivalent to intending to sell a
number of votes equal to your voting limit on that decision for X.

Voting ISELL(X - A*Y) on a decision (A equals one if not specified) is
equivalent to intending to sell A votes on that decision for X, and
then voting A*Y.

Examples:
- ISELL(8 zm)              - allow all of your votes to be
                             purchased as a block for 8 zm

- ISELL(8 zm - AGAINST*8)  - cast 8 AGAINST votes, which can be purchased
                             as a block for 8 zm

- 8*ISELL(1 zm)            - allow each of your votes to be purchased
                             separately for 1 zm each

- 8*ISELL(1 zm - AGAINST)  - cast 8 AGAINST votes, each of which can
                             be purchased separately for 1 zm

When an Offer is filled that specifies a number of votes on a certain
Agoran decision in the 'Selling' or 'For cost' field, the offerer or
filler respectively
- retracts enough (if any) of eir ballots on that decision that the
  following ballots are valid and do not exceed eir voting limit;
- casts the specified number of ballots with the option specified by
  the other party; and
- SHALL NOT retract these ballots.

If this process is impossible, the Offer CANNOT be filled.
Retractions of ballots caused by this process are performed in the
order the ballots were originally submitted.

VIII. Selling Support/Objection

Opining ISELL(X) on an intent to perform a dependent action is
equivalent to intending to sell an opinion on that action for X.

Opining ISELL(X - Y) on an intent to perform a dependent action is
equivalent to intending to sell an opinion on that action for X, and
then opining Y.

Examples:
- ISELL(4 zm)
- ISELL(4 zm - support)
- ISELL(4 zm - object)

When an Offer is filled that specifies an opinion on a certain
dependent action in the 'Selling' or 'For cost' field, the offerer or
filler respectively
- withdraws all previous support or objection for that action,
- supports or objects to that action, as specified by the other party, and
- SHALL NOT withdraw that support or objection, or thereafter support
  or object to that action.

This process also applies to contract-defined psuedo-dependent
actions whose behavior differs from that of a dependent action only in
the values of time limits, or not at all.

IX. Selling Agreement

When an Offer is filled that specifies agreement to certain terms in
the 'Selling' or 'For cost' field, the offerer or filler respectively
SHALL follow those terms.

X. Motions

A motion is an entity which acts identically to an Agoran decision,
except that the requirement that the voting period last at least seven
days is waived, and, by default, the eligible voters are the parties
to this contract, each eligible voter's voting limit is one, and the
voting period lasts 72 hours.

Any party CAN initiate a Motion to Amend, specifying a set of
amendments to this contract.  For this motion, the adoption index is 2.
If the option selected on a Motion to Amend is ADOPTED, this contract
is amended as specified.

XI. Changing the Rates

A Rate List is a list of assets and associated Rates.  To effect a
Rate List is to set the Rate of each asset in the list to the
specified value.

The President CAN effect a Rate List without two objections in 48
hours.  Any party CAN initiate a Motion to Effect, specifying a Rate
List.  For this motion, the adoption index is 1.  If the option
selected on a Motion to Effect is ADOPTED, the specified Rate List is
effected.

XII. Rates are Self-Ratifying

One week after the publication of a Rate List purporting to be part of
the President's report, the Rate List is effected unless, less than a
week after its publication, any person publicly
- challenged the Rate List's veracity, or
- purported to effect a different Rate List.

XIII. The IBA is a Partnership

Parties to this contract SHALL collectively ensure it fulfills its
legal obligations.  If the Sentiment of this contract is ever not
Legalistic, any person CAN flip it to Legalistic by announcement.  If
the Disclosure of this contract is ever not Public, any person CAN
flip it to Public by announcement including its text and list of
parties.

XIV. Pending Offers

A person is involved in an Offer if e is its offerer or filler.  A
pending Offer is an Offer whose effects impose an ongoing or
unsatisfied obligation on a person involved in it.

XV. Presidential Restriction

The President, when performing actions allowed to em by virtue of the
position, SHALL act in good faith, considering the best interests of
this contract and the game.

XVI. Initial Rates

When this contract is formed, the following Rate List is effected,
then this section repeals itself:

asset       rate (zm)

0 Crop      11
1 Crop      11
2 Crop      45
3 Crop      21
4 Crop      23
5 Crop      27
6 Crop      50
7 Crop      19
8 Crop      12
9 Crop      11
WRV         130
--
C  Credit   75
C# Credit   214
D  Credit   80
D# Credit   188
E  Credit   57
F  Credit   141
F# Credit   96
G  Credit   173
G# Credit   69
A  Credit   100
A# Credit   125
B  Credit   214

**Credit = Note Credit

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