I become a party to the Dragon Corporation.
I transfer 10 coins to DRGN to buy a share.
I transfer 10 coins to DRGN to buy a share.
I transfer 10 coins to DRGN to buy a share.
I transfer 10 coins to DRGN to buy a share.
I will neither confirm nor deny that I performed this hostile takeover entirely
as a bureaucratic convenience, so that I can track all contract-related state
in one place.
(I think the current ruling is that we can’t make reports by announcement, but
if that gets rectified I would be interested in contractual arrangements to
allow me to publish other contract state in the Notary’s report on behalf of
the actual recordkeepor.)
Gaelan
> On Mar 1, 2020, at 3:13 PM, Tanner Swett via agora-business
> <agora-busin...@agoranomic.org> wrote:
>
> Without further ado...
>
> I agree to the following.
>
> {{{
>
> ## Bylaw 1: Definition
>
> This contract is named "the Dragon Corporation". The purpose of the
> Dragon Corporation is to earn as much money as possible for its
> shareholders.
>
> All other provisions of this contract notwithstanding, this contract
> does not permit any entity to act on behalf of any other entity.
>
> Shares of Dragon stock (also known as "shares of DRGN", or, in this
> contract, "shares") are a currency whose purpose is to represent
> ownership of the Dragon Corporation. An entity which owns at least one
> share is known as a shareholder.
>
> If, at any time, the Dragon Corporation or the Lost and Found Department
> owns any shares, then those shares are destroyed.
>
> Any person CAN, by announcement, become a party to this contract or
> cease to be a party to this contract. A shareholder who is a party to
> this contract is known as a member.
>
> Wherever this contract states that an entity becomes a party to this
> contract or ceases to be a party to this contract, all parties to this
> contract are considered to consent to this change.
>
> ## Bylaw 2: Proposals
>
> Any member CAN, by announcement, submit a Corporate Proposal. A
> Corporate Proposal must have exactly one of the types defined by this
> contract. Thereafter, any member CAN vote FOR or AGAINST that proposal
> by announcement, or retract such a vote, which causes the vote to become
> null and void. Whenever a member votes, all of eir previous votes on the
> same proposal are implicitly retracted.
>
> If a Corporate Proposal was submitted more than 7 but fewer than 21 days
> ago, and the proposal has approval (as defined in other bylaws), and the
> proposal has not been applied, then any member CAN, by announcement,
> apply the proposal, which has effects as defined in other bylaws.
>
> Members SHALL NOT submit, vote for, or apply proposals that are
> egregiously unfair to other shareholders (such as a proposal which takes
> or revokes shares from minority shareholders without just compensation).
>
> ## Bylaw 3: Amendment Proposals
>
> An Amendment Proposal is a type of Corporate Proposal. An Amendment
> Proposal has approval if at least one member has voted FOR it, and the
> number of shares owned by members who have voted FOR it is at least 2
> times the number of shares owned by members who have voted AGAINST it.
>
> When an Amendment Proposal is applied, the following occur:
>
> 1. Each party to this contract who has not consented to the application
> of the proposal ceases to be a party to this contract. A party who has
> voted FOR a proposal consents to the application of that proposal,
> unless e has publicly stated otherwise at or after the time at which e
> voted FOR it.
>
> 2. This contract is modified as described in the proposal.
>
> However, the application of an Amendment Proposal is INEFFECTIVE unless,
> in the same message, the entity who applies the proposal also publishes
> a text which is labeled as being the text of this contract after the
> application. E SHOULD, at that point, publish intent to ratify that text
> without objection.
>
> ## Bylaw 4: Ordinary Proposals
>
> An Ordinary Proposal is a type of Corporate Proposal. An Ordinary
> Proposal has approval if the number of shares owned by members voting
> FOR it is greater than the number of shares owned by members voting
> AGAINST it.
>
> When an Ordinary Proposal is applied, assets are created, destroyed,
> and/or transferred as described in the proposal; and entities may
> create, destroy, and/or transfer assets as permitted in the proposal.
> Such permission expires 30 days after the proposal is applied.
>
> After an Ordinary Proposal is applied, the person who applied it SHOULD
> publish a description of its effects in a timely fashion, including all
> balances of assets defined by this contract which were affected by the
> proposal.
>
> ## Bylaw 5: Bonds and Banknotes
>
> Perpetual Dragon bonds (hereinafter "bonds") are a currency. Banknotes
> are a currency.
>
> At the beginning of each Agoran quarter, each entity is awarded a number
> of banknotes equal to the number of bonds that e owns.
>
> If an entity owns a banknote, e CAN redeem the banknote by transferring
> 1 coin from the Dragon Corporation to emself; the banknote is then
> destroyed.
>
> ## Bylaw 6: Recordkeeping
>
> If a party to this contract owns more shares than any other party to
> this contract, then that party becomes the President of the Dragon
> Corporation, if e is not already the President. The former President
> SHALL publicly inform the new President of this event in a timely
> fashion.
>
> The President is the recordkeepor of all assets defined by this
> contract, except those for which this contract specifies a different
> recordkeepor.
>
> ## Bylaw 7: IPO
>
> Within 90 days after this contract is created, any entity CAN buy a
> share by announcement; in the same message, the entity must transfer 10
> coins and/or banknotes to the Dragon Corporation as a cost for this
> action. When e does this, e is awarded 1 share.
>
> Within 90 days after this contract is created, any entity who owns at
> least 1 share may sell the share by announcement. When e does this, the
> share is destroyed and e is awarded 5 banknotes.
>
> }}}
>
> I buy 3 shares of DRGN. I satisfy the costs for this action by
> transferring 30 coins to the Dragon Corporation.
>
> —Warrigal, who fully expects to get taken advantage of somehow
