Memory allows users to monetize their personal data, either public or private, by uploading it to the protocol and allowing consumer apps to access it by paying a fee in $MEM. With that, consumer apps can create an enriched user experience by tapping into complex public and private data from their users. Part of the fees go to the protocol and the rest goes to the user that provided data.
For publicly available data like Twitter and Farcaster follow graphs and posts, the user doesn’t need to do any action, Memory’s backend automatically indexes data for any user and provides it to consumer apps. Even for public data that doesn’t require any action, users are rewarded in part of the protocol fees if they get queried by consumer apps as an onboarding incentive to upload private data.Consumer applications can access data through the Memory API using either pre-purchased API credits with $MEM tokens or through x402 micropayments for one-off purchases. The Memory Fee Router automatically splits payments between the protocol treasury and data providers, with weekly reward distributions through an on-chain Merkle Tree distributor contract.
