Walrus is a decentralized data storage protocol built on the Sui blockchain that enables applications to publish, read, and program large data files through Move-based smart contracts. It transforms storage into an interactive, programmable resource that supports the entire lifecycle of data management. ^{[1] [3] [5]}

Overview

Walrus represents a new approach to decentralized storage by making data programmable and interactive through blockchain technology. Originally developed by Mysten Labs, Walrus operates on the Sui blockchain and allows applications to manage both onchain and offchain data files, referred to as "blobs," via smart contracts written in the Move programming language.

The protocol differentiates itself from traditional decentralized storage solutions by enabling dynamic data interactions and smart contract automation. This programmability allows data to be not just stored but actively managed, modified, and utilized in various applications. By integrating storage, availability, and compute capabilities, Walrus aims to provide a comprehensive solution for modern data management needs across industries.

Walrus supports a wide range of use cases, from AI datasets and rich media files to websites and blockchain history storage, making it versatile for developers building applications that require secure and efficient data management. ^{[1] [2] [3]}

History

Walrus was initially developed by Mysten Labs, the team behind the Sui blockchain. The project was later spun out into the Walrus Foundation, an organization dedicated to the promotion and growth of the Walrus protocol.

In early 2025, the Walrus Foundation secured $140 million in a private token sale led by Standard Crypto, with participation from notable investors including a16z crypto, Electric Capital, Creditcoin, Lvna Capital, Protagonist, Franklin Templeton Digital Assets, Karatage, RW3 Ventures, Comma3 Ventures, and The Raptor Group. This funding was intended to support the expansion and maintenance of the protocol and application development platform.

The Walrus Mainnet officially launched on March 27, 2025, marking a significant milestone in the project's development and enabling the full functionality of the protocol for public use. ^{[1] [4] [7]}

Technology

The protocol employs a hybrid model that combines blockchain and peer-to-peer networking to deliver decentralized storage services. Data is secured through encryption and distributed across multiple nodes, reducing the risk associated with centralized failure points. Smart contracts are used to automate storage agreements, enforce protocol rules, and process transactions, thereby supporting scalability and efficiency in data storage operations.

Walrus leverages the Sui blockchain's architecture to enable programmable storage. The protocol manages data files (blobs) through Move-based smart contracts, which provide a secure and efficient way to handle data throughout its lifecycle.

Unlike traditional storage solutions that simply store and retrieve data, Walrus transforms storage into a programmable resource. This allows for:

• Dynamic data interactions
• Smart contract automation through Move
• Modification and management of stored data
• Integration with financial applications and other blockchain services

Walrus supports both onchain and offchain data storage, providing flexibility for different types of applications. The protocol ensures that data is properly maintained throughout its entire storage lifecycle, from initial storage to eventual deletion or archiving.

Rebecca Simmonds, Managing Executive of Walrus Foundation, emphasized the importance of this integration: "By leveraging Sui's unique architecture, we're making storing data programmable, interactive, and secure. Walrus is uniquely positioned to capitalize on this growing market and this funding will allow us to drive the adoption of programmable storage across industries as businesses search for flexible and verifiable data solutions." ^{[1] [4] [3] [2]}

Use Cases

Walrus supports a diverse range of applications across various industries:

Data Storage and Management

• AI datasets storage and retrieval
• Rich media files (images, videos, audio)
• Website hosting and content delivery
• Blockchain history and transaction data

Programmable Data Applications

• Smart contract-controlled data access
• Dynamic content generation and modification
• Data marketplaces with programmable terms
• Decentralized applications requiring complex data interactions

Enterprise Solutions

• Secure and verifiable data storage
• Compliance-focused data management
• Cross-organizational data sharing
• Backup and disaster recovery systems

Walrus Token (WAL)

The Walrus ecosystem is powered by its native cryptocurrency, WAL, which serves multiple functions within the protocol.

WAL is listed on various cryptocurrency exchanges and tracking platforms, including:

• CoinMarketCap
• CoinGecko

These platforms provide real-time information about WAL's price, market capitalization, trading volume, and other relevant metrics. ^{[6] [5] [7]}

Utility

The WAL cryptocurrency serves several purposes within the Walrus ecosystem:

• Payment for storage services
• Staking for network security
• Governance participation
• Incentives for storage providers and validators

Funding and Investors

In early 2025, the Walrus Foundation completed a significant fundraising round, securing $140 million in a private token sale. This funding round was led by Standard Crypto and included participation from several prominent investors in the blockchain and venture capital space. ^[1]

Key Investors

• Standard Crypto (Lead investor)
• a16z crypto
• Electric Capital
• Creditcoin
• Lvna Capital
• Protagonist
• Franklin Templeton Digital Assets
• Karatage
• RW3 Ventures
• Comma3 Ventures
• The Raptor Group

Adam Goldberg, Managing Director and Co-Founder at Standard Crypto, commented on their investment: "Prior onchain storage attempts have struggled with scalability, flexibility, and security, limiting their adoption within a rapidly expanding set of use cases for both apps and infrastructure. We believe, with Walrus, we finally have an internet-scale and crypto-native storage platform designed for the coming era of data-heavy blockchain adoption." ^[1]

Governance and Foundation

The Walrus Foundation oversees the development, promotion, and growth of the Walrus protocol and its cryptocurrency. As the governing body, the foundation is responsible for:

• Protocol development and maintenance
• Community engagement and growth
• Ecosystem fund management
• Strategic partnerships and integrations
• Research and innovation initiatives

The foundation aims to drive the adoption of programmable storage across industries and support developers building on the Walrus protocol. ^[1]

Walrus provides an alternative to conventional cloud storage by integrating blockchain technology with decentralized data distribution. As the ecosystem evolves, the protocol contributes to the ongoing development of digital storage and data management within decentralized networks.

Walrus operates in the decentralized storage sector, which includes several established projects with different approaches and technical architectures. While Walrus differentiates itself through its programmability and integration with Sui, it competes with other decentralized storage solutions in the broader market.

The protocol's focus on programmable storage and smart contract integration positions it uniquely in the market, particularly for applications requiring dynamic data interactions and automated data management. ^{[1] [2] [3] [4] [5] [6] [7]}