WAL/EUR - Walrus/Euro

About Walrus

Walrus (WAL) is the native token of the Walrus protocol, a decentralized data storage platform built on the Sui blockchain. Designed to offer efficient and secure storage of large binary files, Walrus allows users to store and access data such as digital media, datasets for artificial intelligence, and historical blockchain archives. The WAL token is used to pay for storage, with a mechanism that keeps costs stable in fiat currency terms, protecting users from market volatility. Payments are distributed over time among storage nodes and staking participants, ensuring the financial sustainability of the protocol and the security of the stored data. In addition to its function as a means of payment, WAL plays a crucial role in the security and governance of the protocol. Through delegated staking, users can participate in network validation by delegating their tokens to storage nodes that compete to attract participation. This system incentivizes honest and efficient behavior of nodes, as rewards are based on their performance. To encourage long-term staking decisions and penalize adverse behaviors, the protocol implements token burning mechanisms and sanctions for underperforming nodes. These features make WAL an essential component for maintaining the integrity, efficiency, and decentralization of the Walrus ecosystem.