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Fermato

Overview

Fermato acts as the interface between the storage consumers and the smart contracts deployed on the Cardano blockchain, allowing storage consumers to subscribe to storage as a service and manage their existing subscriptions. Fermato performs the following operations on behalf of the storage consumers:

  • Buy storage
  • Manage subscription status
  • Control access management (future)

The diagram below shows how Fermato relates to the rest of the Iagon protocol:

Fermato Protocol

The following sequence diagram is a schematic of the interactions that take place between the various components involved when storage consumers purchase storage or update their subscription through Fermato:

sequenceDiagram
autonumber
participant sc as Storage Consumer
participant frm as Fermato
participant stm as Storage <br/> Marketplace
sc ->> frm: Sends storage requirements
frm ->> stm: Queries the price
stm ->> stm: Determines the subscription price <br/> and the transaction fee
frm ->> sc: Requests the storage consumer to make the payment
sc ->> frm: Pays in stablecoins and ADA
frm ->> stm: Pays for the subscription cost in stablecoins <br/> and the transaction fee in ADA.
frm ->> sc: Provides the subscription NFT

The flow is as follows

  1. Storage consumers specify the amount of storage they wish to purchase.
  2. Fermato queries the price on the storage marketplace.
  3. The marketplace determines the subscription price in stablecoins based on supply and demand of storage space and the transaction fee, expressed in ADA.
  4. Fermato requests the storage consumer to make the payment.
  5. The storage consumer sends the required number of stablecoins and ADA tokens to Fermato.
  6. Fermato pays for the subscription cost in stablecoins and the transaction fee in ADA.
  7. Fermato provides the subscription NFT to the storage consumer.