Sort it out
Five steps: put in the debts, watch them net, cancel the circles, see the charge land on both sides, then check every figure.
These are the specification’s example figures, not anyone’s real debts. Replace them with your own.
The small charge on both sides. Whoever owes overall pays this much more; whoever is owed gets this much less. The difference goes to the shared fund.
Write it to the record
A clearing round lives in a body’s shared record: someone with the right to open a round opens it, each body publishes what it owes, and the results are written so anyone can check them.
Open a round
The body whose record the round lives in, by its identifier.
The record identifier of the grant that lets you open one. Without it, the body’s own rule decides whether the round is accepted.
Publish what a body owes
Filled in when you open a round here, or paste one from a round opened elsewhere.
The body this position speaks for. Its debts are the rows in step 1 where it is the one owing.
Work it out from the record
Once the bodies have published, take their positions off the record into step 1, sort them out, and write the results into the same round.
Written from this device
If a body can’t pay
A guarantee is layered and every layer has a cap: the body’s own retained floor first, then the shared fund, then support the others voted for — watched until a stated date, and never open-ended.
The floor is the first layer’s cap: the body’s own buffer, drawn before anyone else’s money.
What the fund actually holds, if that is less than the cap. Leave it blank and the cap is taken as available.
Leave all three blank for a guarantee of two layers.
Every grant of authority lapses. Renewal is a fresh act, never automatic.
Take it with you
Everything works with no network. A bundle is a file you can carry on a memory stick or send however you like; the other device checks every signature for itself.
Your whole record — your events and your petnames — as one file. No keys ever leave this device.