Memory is the foundation for how the internet was supposed to work. Users own their data, earn when it’s used, and take it with them between apps. Builders have limitless imagination to build on top of open data.

But there has always been a missing piece for this original vision: aligned incentives and native payment rails.

Introducing $MEM, designed to power Memory Protocol, align incentives for builders and internet users, and ensure the protocol is owned by all who contribute to it.

The token will launch on Base on Wednesday September 3rd, and will be tradable on Aerodrome. Here’s what you need to know.

For two decades, internet platforms have built empires on top of our data, without ever sharing revenue with us.

This model isn’t just economically unfair, it resulted in a fragmented internet. We are locked into platforms and repeatedly forced to start over with every new app. Perhaps worse, we can’t build new experiences with that data, limiting our experiences on and offline.

We have no control of our digital memories. Until now.

Memory Protocol is the foundation for a user-owned internet. You control your data through a personal Memory Vault, and revenue is distributed back to you whenever your data is used.

If you’re a builder, Memory Protocol provides rich user data via an API, so you can build personalized experiences without fear of being rugged by a centralized API.

The Memory API is live today with aggregated public data for over 150k unique individuals, which means builders can start building (access docs here) and users can start earning without doing anything. This includes arrays of accounts like wallet address, ENS, Twitter, Farcaster, and Zora with supplemental data like follow graph, posts, and profile info.

In the future, anyone will be able to upload and curate more unique personal data via the Memory Vault app, forming an unstoppable open data marketplace for the internet with user control at the center.

$MEM is the heart of the Memory economy. It serves the following functions:

• Medium of exchange - Apps pay $MEM to unlock API credits.

• Revenue to users - Revenue is routed to users in $MEM when their data is queried.

• Aligned incentives - Apps can unlock $MEM allocation for early API adoption and users earn for supplying data.

• Protocol growth - A portion of revenue is distributed to the treasury to grow the protocol.

• Commitment to decentralization - $MEM will ultimately reward network operators as the protocol becomes more decentralized.

• Path to an open data marketplace - $MEM will be used for data curation, schema creation, and governance in later phases.

$MEM ensures the protocol belongs to all from day one, while powering the fee-router with instant onchain payments.

An initial supply of 1 billion $MEM will be issued, and distributed as follows:

• User distributions - 15%

• Ecosystem development - 15%

• Team and advisors - 15%

• Investors - 15%

• Treasury - 30%

• Liquidity and LP rewards - 10% 

The tokenomics reflects our commitment to aligning incentives and ownership of the protocol over the long-term.

User distributions - 15% of the supply is reserved for everyone who contributes their data to the protocol, including those who already claimed their Memory Vault and linked accounts in Chapter 1 between May-August 2025, as well as future distributions for those who supply richer data in following chapters. $MEM claiming from Chapters will be available soon.

Ecosystem development - 15% is allocated for apps, agents and builders who wish to utilize the Memory API and contribute app data in the future. Allocations will be distributed on a diminishing basis so reach out for early access.

Team and advisors - 15% is allocated to the team as we build towards a fully decentralized protocol. The team is subject to a 12 month cliff and 3 year vesting schedule to encourage long-term commitment.

Investors - 15% is allocated to our small group of early backers who trusted the vision for user-owned data on the internet. Roughly two thirds of our investor pool remains available for future protocol funding.

Treasury - 30% to incentivize long-term development, growth, and operations of the protocol.

Base envisions a user-owned internet where value flows freely to those who create it. We believe this starts at the data layer. Every data point you create is valuable, and should be rewarded as such. 

Once we unlock the value of personal data, we believe something bigger will emerge. User-owned, portable data can fundamentally change the way we interact with apps and LLMs, allowing our digital life to flow freely between them, no longer trapped. Open data allows builders to create new app experiences that are currently impossible. Memory will change our entire experience on the internet.

$MEM will be available on Base on Wednesday September 3rd.