Walrus (WAL) Price

Info

Contract Address

SUI 0x356a26eb9e012a68958082340d4c4116e7f55615cf27affcff209cf0ae544f59::wal::WAL

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About Walrus (WAL)

WAL is the payment token for storage on the Walrus protocol, with the payment mechanism designed to keep storage costs stable in fiat terms and protect against long-term fluctuations in the WAL token price. When users pay for storage, they pay to have data stored for a fixed amount of time and the WAL paid upfront is distributed across time to storage nodes and stakers as compensation for their services. This mechanism ensures both that the Walrus protocol is financially sustainable and that users can expect their data to be held safely and securely.

The WAL token distribution includes a 10% allocation for subsidies, intended to support the protocol’s adoption in its early phases. In particular, these subsidies will allow users to access storage at a lower rate than the current market price of storage, while also ensuring that storage nodes have viable business models.

Delegated Staking of WAL tokens underpins Walrus’ security. Users can stake tokens to participate in the network’s security regardless of whether they operate storage services directly. Nodes compete with one another to attract stake from users, which in turn governs the assignment of data to them. Nodes, and those that delegate their stake to them, earn rewards based on their behavior. In the future, once slashing is enabled on Walrus, these mechanisms will ensure the full alignment between WAL token holders, Walrus users, and Walrus operators.

Governance for Walrus adjusts the parameters in the system, and operates through the WAL token. Nodes collectively determine the level of various penalties, with votes equivalent to their respective WAL stakes. Walrus nodes, who often bear the costs of other nodes’ underperformance, calibrate the appropriate financial repercussions.