Our Story
Founded in 2022, Usher Labs launched its Web3 integrated Referral Marketing solution named “Usher”. The vision was to enable a way for people to trustlessly support the growth of NFT and DeFi projects in exchange for revenue share, or token-based equity.
As the team began discussions and onboarding of Advertisers, a security risk surfaced. Data associated with referrals and attributions was passing through centralized software and was, therefore, susceptible to tampering or data mismanagement. At scale, this problem would only grow worse as trust in data management would be required of anyone with access to these software environments.
In a Web2 environment, where traditional financial services would be used to manage Advertiser funding and referrer rewards, this would not be an issue as there are regulatory frameworks in place to prevent and ensure misuse of funds.
In Web3, this is a problem as made evident through the many “rug-pulls”, and now defunct centralized custodians.
Despite the security risk, this centralisation of data was required as there was no infrastructure to support the transport of events collected without browsers directly to decentralized storage. This problem established the purpose of an infrastructural solution capable of turning signals, events, and behavioural data into on-chain digital asset management.
In 2023, Usher Labs began the development of the Log Store Network — a decentralized and verifiably immutable time-series database to house the world’s events. With a system capable of facilitating data integrations between decentralized systems, the concept of programmable data protocols came to light. The Asset Manager became an applied data protocol capable of leveraging real-time data streams that confirm events across disparate blockchains to unify asset management so that there may exist an abstraction layer for non-custodial & cross-chain asset management.
The Log Store and Asset Manager collectively fulfil what would be required to deliver a completely trustless data-intensive user application like a Web3 integrated referral marketing solution.