This project is indeed quite interesting. From the fundamentals, WAL's total supply is set at 5 billion tokens, with an initial circulating supply of 1.25 billion tokens. What's most fascinating is that over 60% of the tokens are allocated to ecosystem participants through airdrops and community reserves. This design approach demonstrates the project's emphasis on decentralized participation.

I've always believed that the core value of decentralized storage is enabling users to truly control their data. From this perspective, Walrus turns data into on-chain native resources through programmable storage, which inherently breaks down the traditional internet data silos. More importantly, its Seal feature introduces innovations in privacy access control—making decentralized applications feasible in sensitive fields like AI and health tech.

The tokenomics model is worth a close look. Every transaction burns WAL tokens, creating deflationary expectations; at the same time, storage nodes can earn annual yields of 18%-25% through staking, which is quite attractive for node operators. Even more, token holders can participate in governance votes on RWA asset access and fee adjustments, truly embodying community-driven development. An ecosystem has already formed a complete closed loop of "asset on-chain → trading → derivatives," indicating the project is beyond just conceptual stages.

Funding backing and institutional recognition are also signals—$140 million in funding, participation from Grayscale Trust, all reflecting professional institutions' confidence in the project's potential. According to the roadmap, deep integration with Sui in 2026 will be a key milestone, potentially leading to a qualitative leap in ecosystem applications.

I personally believe this is a project worth serious research within the investment scope.