WAL Description
Overview
Walrus (WAL) is a decentralized storage and data-availability protocol built on the Sui blockchain.
The network stores large data objects, called blobs, off-chain across independent storage nodes while anchoring verification proofs on Sui. Users pay WAL tokens to store blobs, and storage-node operators earn WAL for providing capacity and serving data.
Value Proposition
Walrus provides decentralized storage and data-availability for large data blobs, with storage payments and node rewards settled in WAL on the Sui blockchain.
In 2026 the protocol introduced MemWal, a plugin giving AI agents long-term verifiable memory built on Walrus storage. The network has surpassed 450TB of stored data as of 2026, up from about 12TiB at its 2024 developer-preview stage.
Token Basics
WAL functions as both a utility and governance token within the Walrus network.
- Used to pay for blob storage fees
- Earned by storage-node operators for providing capacity
- Staked directly, or delegated to a node operator, to participate in the network's delegated proof-of-stake system
- Confers on-chain voting rights, with voting power based on stake, for protocol parameter adjustments
Tokenomics
Walrus has a maximum supply of 5,000,000,000 WAL, of which approximately 2.6 billion were in circulation as of 2026-09-02.
- Community Reserve: 43% (32.1% unlocked at launch; remainder vests linearly over 96 months)
- Core Contributors: 30% (Early Contributors 20%, Mysten Labs 10%)
- Subsidies for storage-node support: 10%
- Investors: 7%
- Community/User Drop: 10% (Future User Drop 6%, Initial Airdrop 4%)
Ongoing multi-year vesting keeps token-supply inflation elevated relative to comparable low-cap tokens.
Launch & Funding
Walrus's mainnet launched on March 27, 2025, following a developer preview released June 18, 2024 and a public testnet phase.
Ahead of mainnet, the Walrus Foundation raised $140 million in a March 2025 private token sale led by Standard Crypto, with participation from a16z crypto, Electric Capital, Franklin Templeton Digital Assets, and other investors, valuing the full 5 billion token supply at $2 billion. Initial distribution included a 4% soulbound-NFT airdrop to early Sui-ecosystem participants.
Blockchain & Consensus
Walrus operates on the Sui blockchain and is secured by its own delegated proof-of-stake (dPoS) network of storage nodes.
WAL holders either run a storage node directly by staking WAL or delegate their tokens to a node operator. The resulting "Current Committee" of staked participants is responsible for storing and serving data on the network.
Team
Walrus was originally developed by Mysten Labs, the team behind the Sui blockchain, founded in 2021.
- Evan Cheng - Co-founder & CEO (former Meta Diem architect)
- Adeniyi Abiodun - Co-founder & CPO (former Meta Diem architect)
- Sam Blackshear - Co-founder & CTO, creator of the Move programming language
- George Danezis - Co-founder & Chief Scientist
Kostas Chalkias is also cited as a co-founder and Chief Cryptographer.
Issuing Organization
Walrus is maintained by two related entities: Mysten Labs, its original developer and the company behind Sui, and the Walrus Foundation.
Mysten Labs is a US-based company founded in 2021. Since the March 2025 mainnet launch, the independent Walrus Foundation has overseen the network's growth and development and ran the $140 million private token sale that preceded launch.
Governance
Walrus is governed through its delegated proof-of-stake system, in which WAL staked or delegated to node operators determines both storage-committee membership and on-chain voting power.
Token holders use this stake-weighted voting to influence protocol parameter adjustments. Treasury functions tied to network growth are overseen by the Walrus Foundation, established after the March 2025 mainnet launch.
Roadmap
Walrus's 2026 development priorities center on MemWal, a plugin giving AI agents long-term verifiable memory using Walrus storage, announced alongside enhanced developer experience, privacy-by-default features, and deeper Sui stack integration.
In April 2026, the project released walrus-python, a native Python SDK intended to lower the barrier for non-blockchain developers to use Walrus storage.
Security
OtterSec audited Walrus's smart contracts covering storage, payments, and governance metadata management, dated February 25, 2025.
The audit identified 1 critical, 1 high, 7 medium, 1 low, and 4 informational findings.
Frequently Asked Questions
What is Walrus (WAL)?
Walrus (WAL) is a decentralized storage and data-availability protocol built on the Sui blockchain. It stores large data objects, called blobs, across independent storage nodes while anchoring verification proofs on Sui. Users pay WAL tokens for storage, and node operators earn WAL for providing storage capacity and serving data requests.
What blockchain does Walrus run on?
Walrus runs on the Sui blockchain and is secured by its own delegated proof-of-stake network of storage nodes. WAL token holders can stake directly by running a storage node or delegate their tokens to an existing node operator, forming the network's staked committee that stores and serves data.
Is WAL a governance or utility token?
WAL is both a utility and a governance token. It is used to pay storage fees, reward storage-node operators, and stake within the network's delegated proof-of-stake system. It also grants on-chain voting rights, with voting power based on stake, letting holders influence protocol parameter adjustments.
What is the maximum supply of WAL?
Walrus has a maximum supply of 5,000,000,000 WAL tokens. As of 2026-09-02, approximately 2.6 billion WAL were in circulation, with the remainder subject to a multi-year vesting schedule that includes a 96-month linear unlock for part of the Community Reserve allocation.
When did Walrus launch?
Walrus's mainnet launched on March 27, 2025, after a developer preview released in June 2024 and a subsequent public testnet phase. Ahead of mainnet, the Walrus Foundation raised $140 million in a private token sale in March 2025, led by Standard Crypto with participation from several other investors.
How much funding did Walrus raise?
The Walrus Foundation raised $140 million in a private token sale in March 2025, led by Standard Crypto with participation from a16z crypto, Electric Capital, Franklin Templeton Digital Assets, and other investors. The sale valued the full 5 billion token supply at $2 billion.
Has Walrus been audited?
Yes. OtterSec audited Walrus's smart contracts covering storage, payments, and governance metadata management, in a report dated February 25, 2025, before the network's mainnet launch. The audit identified 1 critical, 1 high, 7 medium, 1 low, and 4 informational findings across the reviewed contracts.
What is MemWal?
MemWal is a plugin, introduced as part of Walrus's 2026 development priorities, that gives AI agents long-term verifiable memory using Walrus storage. It lets agents store and retrieve memory snapshots, workflow checkpoints, and knowledge states, alongside other 2026 initiatives like deeper Sui stack integration.
