Recently, many people have been asking about the Walrus project. Here's a brief overview of its core logic.

This is a decentralized storage + DeFi platform running on the Sui blockchain. In simple terms, it aims to solve the longstanding issues of expensive and difficult blockchain storage. Walrus uses its native token WAL to connect the entire ecosystem, with a clear focus—addressing the bottlenecks of large data storage while providing space for private interactions and governance participation.

From a technical perspective, the highlight is the layered approach of "on-chain control + off-chain storage." Core data and metadata are stored and verified on the chain, while large files are distributed across nodes for storage. They employ a set of 2D erasure coding protocol called Red Stuff, which only requires a 4.5x replication factor to ensure sufficient security—this figure indicates a highly efficient storage process. Notably, this scheme is the first to achieve asynchronous network storage verification, marking an innovation in the decentralized storage field.

Functionally, it features a "storage + finance" dual-track design. The storage side mainly handles large files like AI datasets and rich media, with storage resources made programmable through Move smart contracts. The finance side is much richer—featuring staking, governance, liquidity mining, and other common DeFi activities. Nodes need to stake WAL tokens to qualify for service, and ordinary users can delegate stake to participate in sharing rewards.

The WAL token acts as a connector here, driving community participation, incentivizing node operation, and supporting ecosystem governance.