Sui-based Decentralized Storage Protocol Walrus Launches Mainnet

Walrus Protocol, a Proof of Stake decentralized storage blockchain for dApps and autonomous agents, has launched its mainnet, according to a Mar. 27 X post.

To commemorate the launch, the platform has launched an airdrop of its native WAL token to testnet users and other early supporters. WAL powers the Walrus ecosystem, giving users access to perks like staking rewards.

WAL is trading at a $750 million market capitalization, according to Coingecko.

Following the mainnet launch, WAL has been listed on several decentralized exchange (DEX) liquidity pools, such as Suilend, Scallop, and Bluefin. WAL is also listed on several centralized exchanges, including Bitget, Bybit, and Kraken.

Walrus introduces the concept of programmable storage, which allows blockchain developers to build custom logic around stored data, providing more unique and dynamic onchain experiences for blockchain users. Red Stuff, its native data encoding algorithm, makes this possible.

Walrus is also chain-agnostic, meaning any blockchain ecosystem or application can easily connect and access its full capabilities. Some apps already using Walrus for storage include a global 3D printing network, 3DOS, and a web3 media company, Decryp, according to the website.

“Never before has any other platform integrated programmable permanent storage. This is storage that is not dumb storage, that’s not just utility. This is programmable, this extends the power and functionality of the computer (Sui) significantly,” said Evan Cheng, co-founder of Mysten Labs, in an X video.