It should be fairly obvious that the capacity of MX2 would be insufficient for Lovely. You would be better served by creating your own banking utility - surely amongst 50000 citizens there would be one or two programmers? And don't pretend that the MX2 would allow you to conduct foreign exchange with other MX2 micronations, because our experience has been that the database will only handle a few transactions before becoming choked.
Finally, a limit of one million is not a problem. Simply revalue the IOU, say a conversion of 10 to 1.

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