Crypto
Key Points:
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Binance Futures has listed the WALUSDT perpetual contract with up to 25x leverage.
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Walrus is a decentralized storage network that distributes data across multiple nodes.
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The WAL token is used for governance, staking, and economic incentives in the Walrus network.
Binance Futures announced the listing of the WALUSDT perpetual contract.
The contract allows users to trade Walrus (WAL) with up to 25x leverage. The listing went live at 15:30 (UTC).
At the time of listing, WAL was trading with a market capitalization of approximately $674 million and a fully diluted valuation (FDV) of $2.59 billion.
What is Walrus?
Walrus is a decentralized storage network designed to store large data files, also known as “blobs.” These blobs include videos, images, blockchain data, and other types of unstructured digital content. Unlike traditional storage systems, Walrus distributes data across multiple storage nodes, ensuring that files remain accessible even if some nodes fail.
The network uses an encoding system called Red Stuff, which allows data to be stored and recovered efficiently. Red Stuff is based on fountain codes, a type of data encoding method that helps reduce storage costs and improve speed. Unlike older methods that require complex mathematical operations, Red Stuff uses a simpler approach that makes data encoding and retrieval faster.
Walrus runs on the Sui blockchain, which manages storage operations, node lifecycles, and economic incentives. Instead of creating its own blockchain, Walrus uses Sui’s infrastructure to organize storage providers and track stored data. The system operates in cycles called epochs, where groups of storage nodes handle data distribution and management.
One of the key features of Walrus is its storage proof system, which ensures that storage nodes actually hold the data they claim to store. Instead of verifying each file individually, Walrus uses a method that checks whether storage providers have all required data fragments. This makes the proof process faster and more scalable compared to traditional storage verification systems.
The WAL Token
The WAL token is the native cryptocurrency of the Walrus network. It is used for multiple purposes within the system, including:
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Governance: WAL holders can vote on network changes and upgrades.
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Staking: Storage providers must stake WAL tokens to participate in the network. Staking ensures that nodes have a financial commitment to following the rules.
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Payments: Users pay WAL tokens for storing and retrieving data from the network.
Walrus also has an economic model that rewards storage providers for maintaining data and penalizes those who fail to meet storage requirements. This system is designed to keep the network secure and reliable over time.
As of March 27, 2025, WAL was trading at a market capitalization of approximately $674 million, with a fully diluted valuation of $2.59 billion.
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