Parties
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This is a public contract and a pledge. The name of this contract is
the Agoran Loan Service. The Lender is Warrigal. Any person can join
this contract by announcement. Any person who is not the Lender and
whose Debt is 0 can leave this contract by announcement. The Lender
can terminate this contract by announcement.
Every person has a Debt, initially 0, and a Credit, initially 0, both
non-negative amounts of Money. The Lender can lower a person's Debt by
announcement, and can set eir Credit to a value at least as high as
eir Debt by announcement. The Lender SHALL keep track of the Debt and
Credit for every person for which both are not zero, preferably
weekly.
"Money" means coins. The Interest Rate is initially 1%. The Lender can
lower the Interest Rate by announcement and can raise it without 3
objections.
Any party to this contract CAN request a loan by announcement,
specifying an amount of Money, as long as the amount of Money
specified plus eir Debt is no more than eir Credit. When this is done,
the Lender CAN, once, as soon as possible, increase the person's Debt
by the amount specified by transferring the amount specified to the
person, as long as e has not reduced eir Credit since the loan request.
Any person CAN decrease eir Debt by any amount by transferring that
amount of Money to the Lender.
At midnight UTC on Monday, every person's Debt increases by the
Interest Rate, rounded up. If a person's Debt has exceeded eir Credit
for at least half of the last 14 days, e is in violation of this
contract.
