Metis CEG Program: CVP vote week 9: Memo

After a short break due to attending conferences and assisting projects submit full proposals, we are glad to be back on our great CEG program that aims in giving the community the power to vote on Metis partnerships, we are pleased to present this week's CVP voting to the community. After an exciting Livestream on our CEG Governance Youtube;

Memo a decentralised cloud storage protocol that supports NFT storage, Dapps data backup, historical On-Chain data, Large-scale infrastructure data storage and data achiving. Memo has developed an interactive and intuitive APIs that facilitate developers and validated nodes to store and access data via this interface, with our state-of-art technology and friendly incentive mechanism supporting high data availability and security.

Memo allows Metis to tranfer transactional data to its decentralised storage layer without having to directly store the transactional data on the ethereum network. Its sequencer first stores a large volume of transactional data on Memo's decentralised storage layer and then publishes the storage index of the transactional data on ethereum. This integration has cause a drop in trasaction fees significantly making Metis now the cheapest of all L2s

The Memo token (MetaMemo) which is cryptographically compliant,will serve as the main token for storage,retrieval and download services. Consumers in need of cloud computing services are billed in the native token, this fee generated eventually goes to keepers and providers. This in effect incentivizes the nodes to continuously secure the network as proportion of revenue generated is reimbursed to storage providers and matchers,keepers who are constantly mapping storage availability to those in need of storage services.

The protocol has been designed in such a way that anyone who wants to call any storage function to store data,retrieve data or download data would need to pledge /stake token to be able to have access. This is designed that way to regulate the behaviors of keepers and provider nodes to always advocate reliable services.The token will in future give rights to holders to participate in the governance of the protocol and decide on future governance mechanisms.

Absolutely buzzing right? Make Memo a CVP? Let your vote Speak!!!

Built for the people, run by the people.

-Team Metis