WAL serves as the primary currency within the protocol, enabling users to pay for file storage and rewarding those who help maintain the network. To accommodate smaller transactions, WAL can be divided into smaller units.
These projects highlight the creativity and technical capabilities of the Web3 community while showcasing the potential of decentralised technology within the Walrus ecosystem.
Users can stake with any registered storage node, affecting that node’s voting weight. Staked WAL tokens also contribute to forming the epoch committee, which oversees network operations during a specific period.
WAL tokens are used to pay for data storage on the Walrus network, much like paying for cloud storage services.At the end of each epoch,
Beyond payments and rewards, WAL also grants governance rights. Token holders can vote on important decisions related to network upgrades and parameters, ensuring a decentralised, community-driven approach to the protocol’s development. This system not only improves storage efficiency and accessibility but also encourages users to actively support and maintain the network.
Walrus Protocol has reached several significant milestones, showcasing its growth and impact in the Web3 space.
The community actively participated in shortlisting projects, with each shortlisted team receiving $500. The final winners shared a $30,000 prize pool, allowing developers to gain recognition and credibility within the Walrus ecosystem.
Walrus has also actively engaged its community through various initiatives, including a meme contest launched on January 22, 2025, with a total prize pool of 955 SUI. At the time of the announcement, one SUI token was valued at $4, according to CoinMarketCap. The contest aimed to encourage creativity and humour while strengthening community participation.
In addition to these technical advancements, Walrus expanded its ecosystem with the launch of SnowReads, a decentralised digital library.
More recently, on January 28, 2025, TradePort, a multichain NFT marketplace, partnered with Walrus to leverage its decentralised storage for NFT metadata within TradePort’s Move-based ecosystem.
These milestones and partnerships underscore Walrus Protocol’s continued growth, innovation, and commitment to advancing decentralised storage solutions while fostering a vibrant developer and user community.
Walrus Protocol offers a scalable, affordable, and effective alternative for traditional blockchain-based systems, marking an innovative change in decentralised storage.
