Memory Protocol: Turn Your Personal Data Into a Revenue Stream

We know your personal data is valuable because several trillion-dollar companies are built on top of it. It’s the most valuable business model the planet has ever created.

But very little value is ever returned to you.

It’s also a poor user experience. We cannot bring our digital history across applications, leaving us with a fragmented experience across the internet and repeatedly starting over.

That era is ending. Memory is our vision for a different future.

Memory is an open data protocol. At the heart is a Memory Vault for every user: a sovereign data store which signifies ownership of your public and private data. Whenever apps or agents query data about you, the protocol will automatically route fees back to your Vault. This will roll out in phases:

In Phase Zero your Memory Vault is made up from aggregated public data, information that already exists about you on the internet (social accounts, associated crypto wallets, your public social graph and posts). It was the easiest place to start without requiring anyone to load their info into a Memory Vault. Memory unifies it in one place, creating a valuable single source of identity data for apps and agents. When apps use Memory Protocol to query this data, you’ll earn fees directly in $MEM whether you've gone to the Memory Vault yet or not. As of today, over 157k accounts can be resolved via the Memory API.

In this phase, you will start earning without even doing anything. But if you want to increase your earnings, go to your Memory Vault and verify your account links and social profiles now. You’ll accrue an additional $MEM balance today for every eligible account link. This is live today.

Phase 1: Uploading rich personal data - Next, you’ll be invited to upload ChatGPT conversation histories, Spotify listening preferences, movie recommendations and other personal data. We’ll create a data marketplace around this with revenue flowing back to users.

Phase 2: Open data economy - The final phase unlocks the protocol's full potential by enabling users to monetize any type of data they possess, with a dynamic pricing model. Curators can stake $MEM to signal valuable data.

For Builders, the heart of Memory is our API, enabling you to resolve accounts to rich data points:

• Linked wallets and social accounts

• Follow graphs and network connections

• Additional verified identity attributes

It enables you to create unprecedented personalization for every user that lands in your app. You automatically know who they, who their friends and followers are, and what they like. All with a simple API. Read the docs.

We are offering free API access and $MEM allocation to early adopters of the Memory API. Get in touch to get set up.

$MEM is the native token of Memory Protocol and the medium of exchange. Apps use $MEM to purchase API credits and get access to user data. Revenue flows automatically back to users onchain via a fee-router on Base, split with the protocol treasury. Apps will also earn $MEM by contributing data back to the protocol.

The protocol only works with a token, and it ensures that everyone can be involved from day one and grow with the protocol. It’s also our commitment to decentralization, and generate immediate incentives for all who contribute to the network.

1. You earn $MEM for validating and contributing your data.

2. You earn $MEM when your data is queried by apps.

3. Early apps get $MEM allocation for using the Memory API.

4. All apps earn $MEM for writing data back to the protocol.

The concept of data ownership is not new. But the token ownership and incentive flywheel makes it work in a practical way for the first time. 

The protocol and token will go live in September on Base.

Why Base? Base has consistently advocated for creators to earn a fair share for their work, using new models to route value back to those who created it. As musicians, artists and creators ourselves, this has always resonated deeply with our team.

Base understands that web2 companies have spent almost two decades profiting from creators, but now this value can now be unlocked by the onchain economy. We share the same driving force to unlock not just the value of your creativity, but the value of your data.

We invite all apps building on Base to implement the Memory API and receive an early-adopter $MEM allocation. Get in touch and we’ll be happy to walk you through it.