The $WAL token is the backbone of the economic system within the Walrus platform, designed to be more than just a medium of exchange, but a fundamental tool for operation and incentive. The @Walrus 🦭/acc project aims to build a robust decentralized storage network, thus making it essential to have a unique token that governs the relationship between users, node operators, and service providers.
Used $WAL to pay for storage fees and access to data, creating real demand for the currency linked to the actual use of the platform. Node operators also receive rewards in WAL for providing storage space and maintaining network stability, which encourages network expansion and increases its security.
Additionally, the currency plays an important role in future governance, allowing WAL holders to participate in protocol development decisions. This model enhances decentralization and gives the community a direct role in steering the project. As the use of decentralized storage solutions expands, the importance of WAL as a fundamental element within the Walrus ecosystem increases.