Reginald here, introducing RegiBank - Xyson's First Bank and commodity-backed currency issuer.
As an active Xsyonian for over 2 years, I have seen many changes and additions to this great game, but one item that I feel we are still lacking is a solid currency.
I will try and fill this need by issuing a commodity-backed currency called RegiDollars abbreviated R$.
A commodity-backed currency is a representative money that is issued by a bank when someone deposits a commodity with that bank. This is how banks and monetary systems have operated in the past in real-life, specifically under a gold standard or silver standard.
In this case:
The commodity will be Old Saw Blades of Very High Quality (VHQ).
The representative will be scavenged Dollars, Quarters, and Pennies that read 'Found by Reginald' when moused over.
The exchange rate is fixed at R$5 per 1 Old Saw Blade VHQ. Quarters and pennies will represent values equal to their real-life counterparts, so 1 RegiQuarter is equal to 1/4th of a R$ and 1 RegiPenny is equal to 1/100th of a R$.
Here is a detailed step-by-step explanation of how the system works:
- Contact me with a whisper in-game, either on my main character Reginald or on my alternate character Reggie to set up an exchange. I also have an email that I use specifically for xsyon-related mail: email@example.com
- Bring at least 1 Old Saw Blade of VHQ to Epsilon Fortress, which is my homestead, located at:
Zone 900 Position 690 / 145
If you are looking at a world map, my homestead is located on a small but prominent peninsula in the middle of the east coast of Lake Tahoe. I've also built a gigantic dirt pile there, so it should be fairly hard to miss if you get close to it.
- For each Old Saw Blade received I will issue exactly R$5 to the depositor in the form of Dollars, Quarters, or Pennies that read 'Found by Reginald' only.
- The R$ can then be traded in exchanges as money. You may want to direct other players you plan to trade with to this forum post so that they understand what R$ are, where they come from, and how to use them safely (more on this below).
- At any time (that I'm available in-game), any person holding R$5 or any multiple of 5 may contact me in order to return R$ to me and receive Old Saw Blades VHQ.
Regarding the safe use of R$, it is extremely important to remember the following:
- DO NOT stack R$ with scavenged dollars found by someone else or found by no one if you do this, then the R$ will become no name dollars and I will under no circumstances give away Old Saw Blades or anything else in exchange for no names.
- DO NOT go scavenging while you are carrying R$. If you do, you will have a chance to pick up scavenged dollars, quarters, pennies, and they will automatically stack with the R$ versions making them no name dollars.
- DO NOT carry found by someone else or found by no one scavenged dollars in your inventory while you are trading with R$. When items of the same type are received in a trade, they automatically stack, which will turn your R$ into no name dollars.
- PLEASE DO check who found the dollars that are being used in an exchange if you are receiving what is claimed to be R$. It only takes a second to hover your mouse over the dollar icon in the trade window. It would be very unwise to trade away your valuables to someone in exchange for scavenged dollars that do not say Found by Reginald.
- PLEASE DO contact me in-game or send me an email if you have any questions regarding this system or if you find someone who is using R$ improperly by mistake or on purpose in an attempt to scam someone.
Regarding other services I'm more than willing to provide should anyone be interested:
- Checking accounts
- Savings accounts
- Storage of any other items
- Issuing or receiving R$ for lower or higher quality Old Saw Blades than VHQ (limited to availability of my own personal stock of VHQ Old Saw Blades)
To be clear, RegiBank is not and never will be a central bank.
R$ are not legal tender within the world of Xsyon, or in any other world, including real-life.
I will never ever under any circumstances issue a single solitary R$ that is unbacked by an Old Saw Blade on deposit.
Issuing R$ without a commodity to back them up is a fractional reserve system and RegiBank will NOT be engaged in such practices.
This means that should the entire world be filled with players all with R$ and they suddenly decide to get their Old Saw Blades back, it may take me a while to get to everyone but I will be able to take in each and every set of R$5 and return all the Old Saw Blades they represented.
Anyone may request information from me regarding currently circulating R$ as well as an inventory of Old Saw Blades held with the bank to back those R$.
This space I will reserve for any FAQs that come up.
Take care my fellow Xsyonians.