diff --git a/marketplace/examples/chat-paper-raw.rkt b/marketplace/examples/chat-paper-raw.rkt
new file mode 100644
index 0000000..e40ade2
--- /dev/null
+++ b/marketplace/examples/chat-paper-raw.rkt
@@ -0,0 +1,88 @@
+#lang marketplace
+;; Equivalent to chat-paper.rkt, but using the raw unsugared
+;; structures rather than the friendly DSL overlay.
+
+(require racket/match)
+(require marketplace)
+
+(make-nested-vm
+ (lambda (vm-pid)
+   (process-spec (lambda (boot-pid)
+		   (lambda (k)
+		     (k (transition stateless
+				    (at-meta-level
+				     (add-endpoint 'listener
+						   (role 'subscriber
+							 (tcp-channel ? (tcp-listener 5999) ?)
+							 'observer)
+						   listener-event-handler))))))))
+ #f)
+
+(define listener-event-handler
+  (match-lambda
+   [(presence-event (role _ (tcp-channel them us _) _))
+    (lambda (state)
+      (transition state
+		  (spawn (process-spec (lambda (pid) (lambda (k) (k (chat-session them us)))))
+			 #f
+			 #f)))]
+   [_
+    (lambda (state) (transition state '()))]))
+
+(define (chat-session them us)
+  (define user (gensym 'user))
+  (transition stateless
+	      (list (listen-to-user user them us)
+		    (speak-to-user user them us))))
+
+(define (listen-to-user user them us)
+  (list
+   (add-endpoint 'speech-publisher
+		 (role 'publisher
+		       `(,user says ,?)
+		       'participant)
+		 (lambda (event)
+		   (lambda (state) (transition state '()))))
+   (at-meta-level
+    (add-endpoint 'tcp-receiver
+		  (role 'subscriber
+			(tcp-channel them us ?)
+			'participant)
+		  (match-lambda
+		   [(absence-event _ _)
+		    (lambda (state)
+		      (transition state (quit #f #f)))]
+		   [(message-event _ (tcp-channel _ _ (? bytes? text)))
+		    (lambda (state)
+		      (transition state (send-message `(,user says ,text) 'publisher)))]
+		   [_
+		    (lambda (state) (transition state '()))])))))
+
+(define (speak-to-user user them us)
+  (define (say fmt . args)
+    (at-meta-level
+     (send-message (tcp-channel us them (apply format fmt args))
+		   'publisher)))
+  (define (announce who did-what)
+    (unless (equal? who user)
+      (say "~s ~s.~n" who did-what)))
+  (list
+   (say "You are ~s.~n" user)
+   (at-meta-level
+    (add-endpoint 'tcp-sender
+		  (role 'publisher
+			(tcp-channel us them ?)
+			'participant)
+		  (lambda (event)
+		    (lambda (state) (transition state '())))))
+   (add-endpoint 'speech-subscriber
+		 (role 'subscriber
+		       `(,? says ,?)
+		       'participant)
+		 (match-lambda
+		  [(presence-event (role _ `(,who says ,_) _))
+		   (lambda (state) (transition state (announce who 'arrived)))]
+		  [(absence-event (role _ `(,who says ,_) _) _)
+		   (lambda (state) (transition state (announce who 'departed)))]
+		  [(message-event _ `(,who says ,what))
+		   (lambda (state) (transition state (say "~a: ~a" who what)))]))))