The decentralized storage protocol Walrus based on the Sui blockchain has recently become a market focus. Developed by Mysten Labs, this project is positioned as a data availability and storage layer, specifically addressing the long-term preservation of large files, rich media content, and on-chain historical data.

The project officially launched its mainnet in March 2025, emphasizing several core features in its design: permanent storage guarantees, privacy programmable functions, and a USD pricing mechanism to ensure price stability. This stability design is quite attractive to long-term data storage users.

From an economic model perspective, the WAL token will introduce a burn mechanism in the future, meaning the protocol will achieve a deflationary effect by destroying a portion of tokens. Such a design is common in the DePIN (Decentralized Physical Infrastructure Networks) track, aiming to support long-term value through supply contraction.