another idea, clearly not a proposal yet
Agoran Stock Market
1. This contract is known as the Agoran Stock Market.
2. This contract creates a currency known as SMDs which are fungible.
3. This contract creates a currency known as shares which contain a stock
symbol.
4. A stock symbol is a string of one to five alphanumeric characters.
5. Shares with the same stock symbol are fungible.
6. Shares with different stock symbols are not fungible.
7. Shares, and SMDs may only be created, destroyed, and echanged, according
to the terms of this contract.
8. There shall be five offices, under this contract, known as SEC Members.
These offices shall be imposed
upon the first five players to join this contract.
9. Any player may join this contract by announcing eir intent to do so.
10. SEC support means a vote in which at least 3 of the SEC members voted
FOR the proposal.
11. Any SEC member may change this contract with SEC support.
12. No player who is not holding an office of SEC member may change this
contract.
13. The first player to join the SEC also holds the office of SEC President.
14. The SEC President shall vacate the office if e is not able to be a
contest master for this contract should it become
a contest.
15. Upon 10 players joining this contract the SEC President shall change
this contract into a contest with emself as
contest master.
16. If the office of SEC President is vacant the set of players who hold the
office of SEC member shall elect from emselves
a player to be SEC President who is capable of serving as contestmaster.
17. If no SEC member is capable of serving as constestmaster, the player who
has been an SEC member the longest SHALL AND MUST
vacate eir office.
18. If an office of SEC member is vacant the players who have joined this
contract shall elect from emselves a player to
that office who is capable of serving as contest master.
19. The SEC President shall serve as record keeper of shares, SMDs, and
Companies.
20. A company may be formed by three members of this contract with SEC
support by announcing eir intention to form the
company, the company name, and the company stock symbol.
21. A company may only have one stock symbol, and may not use a stock symbol
already owned by another company.
22. When a company is formed, the SEC President shall destroy a number of
SMDs in the possession of each player forming
the company equal to the number of SMDs they own multiplied by 0.5. E
shall then create in eir possession a number
of shares with the stock symbol ofthe company they formed such that the
total number of shares with that symbol is 100
and one member owns no more than 1 more than another member (33 + 33 +
34 = 100). The three members who created the
company become known as its board of directors. Thereafer the board of
directors for the company are the three members
who own the most shares. In the event of two or more players owning the
same number of shares the player with the
first player name in alphabetical order who owns that number of shares
with that symbol is deemed to hold more shares.
23. A Board of Directors may request a stock split with SEC support, by
announcing eir intention to do so and specifying
a multiple of 0.1 between 0 and 2. The SEC President shall then create
in the possession of each member to this contract
a number of shares equal to X times the multiple specified by the
company's board of Directors, where X is the number
of shares that have the companies stock symbol which that player already
owned.
24. A board of directors may request a distribution of dividents with SEC
support by announcing eir intention to do so.
The President shall then specify a Random integer between 0 and 100 and
shall create in the possession of each member
of this contract a number of SMDs equal to X * Y / 100 where Y is the
number specified by the President. The SEC
President shall specify the random number exactly once per approved
request.
25. A player may request a conversion between then SMDs and points with SEC
approval by announcing eir intent to convert
a certain number of points or a certain number of SMDs. The SEC
President shall then destroy that number of points or
SMDs and create or award a number of points or SMDs according to the
ratio specified in this contract.
26. The ratio of points to SMDs is 2:100.
27. A player may announce a desire to exchange a number of SMDs for shares
with a given symbol by posting a message
containing eir name the word "BUY" in capital letters, the symbol they
want the shares to have, and the amount
of SMDs they are willing to exchange. The player posting the message
shall be the recordkeepor of eir own desire
to exchange SMDs for shares.
28. A player may announce a desire to exhcnage a number of shares with a
given symbol for SMDs by posting a message
containing eir name the word "SELL" in capital letters, the symbol of
shares they wish to exchange, and the number
of shares they wish to exchange. The player posting the message shall be
the recordkeepor of eir own desire to
exchange SMDs for shares.
29. Two players may exchange SMDs for shares with SEC approval by announcing
eir intent to do so. The SEC President shall
then effect the exchange and record its occurance.
30. Negotiation between players for rate of exchange between shares with a
certain symbol and SMDs is unregulated except
neither player may offer any consideration other than a number of shares
or SMDs.
--
Chester Mealer
[EMAIL PROTECTED]
