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MEMORY SWAP TOKEN is an application token issued by Memory Swap. It is an important token to promote the development of Memory Labs. Based on the Memory economic model, all participants and developers are encouraged to invest in the maintenance of the overall ecological network through the community governance of tokens.
In Memory Swap's economic model, there are two ways to earn MDAO. First, users can get airdrops through early participation in product testing and community contributions. Second, they can get mining rewards through Memory Swap.
On the other hand, all transaction fees for Memory Swap will be regularly used to buy back tokens in the open market, and will be distributed proportionally to token stake holders and development committees.
The Development Committee is mainly responsible for promoting the development of the project and building the community. In the early stages, it will be comprised of Memory Labs, community contributors, and delegates with a majority vote. The latter stage is entirely elected by the community.
MemoryDao (MDAO) is the only ecological token in the whole memory ecosystem. MDAO is zero transaction tax point, and can be used in MemorySwap, CryptoRich3, MemoryWallet, etc. It is indispensable in the memory ecosystem.