Akord Leverages MEM To Build Token-gated Vault
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Author: Adeola @ Contributor of PermaDAO
Reviewer: Hrcksafdie @ Contributor of PermaDAO
Akord Leverages MEM To Build Token-gated Vault
Akord, a protocol which facilitates file storage and publishing on Arweave Network will soon launch a function for its web app that token gates access to Arweave data, an innovation it built using Molecular Execution Machine, an infrastructure solution developed by Decent Land Labs.
The feature allows cross-chain checks for account and non-fungible token balances and also allows Akord’s users to gate access to private vaults with Ethereum NFTs while retaining a decentralised Arweave-based stack. With this innovation, Akord can guarantee secure data sharing, perform cross-chain checks and store the results on-chain.
Akord’s token-gated vault feature is anchored on Decent land Labs’ Molecular Execution Machine (MEM). MEM is a flexible multi-chain smart contract layer that offers a solution to the problem of smart contracts being limited in operations to the blockchain they are deployed to.
MEM contracts can be used to read from and write to external APIs which allows them to query data from on-chain or web2 sources, validate fiat payments and manage token holdings. Using molecules, which are the building blocks that form the core of MEM's offerings, MEM can call any arbitrary data source for its contracts instead of being limited to it's own siloed data.
“MEM's composability and Arweave support make it a viable option for addressing housekeeping tasks like management of users in the Token Gated Access system, including adding and removing users from Vault access lists” said Richard Caetano, the co-founder of Akord.
Explaining why Akord chose MEM, Caetano said there was a pre-existing relationship with MEM’s team, adding that they were able to reach Minimum Viable Product (MVP) with MEM’s team’s support.
“MEM aligns perfectly with our needs due to its ability to execute serverlessly while storing critical state changes securely on the blockchain. We considered alternative solutions, but MEM emerged as the most efficient and reliable choice for our use case,” Caetano said.
“We value their commitment to innovation and their collaboration throughout this project.”
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