Transparency was once the killer feature of blockchain, but after the explosion of DeFi, it has become a double-edged sword. Front-end attacks, on-chain tracking, MEV frontrunning—these issues are happening every day, forcing users to choose between security and privacy. Walrus Protocol has identified this pain point and combined decentralized storage with native privacy DeFi, opening up a new track.

Technically, Walrus's strength lies in deeply integrating cryptography with Sui. On-chain transactions are completely private; your transfer amounts, sender and receiver addresses can be hidden, yet the transactions remain verifiable. This is not simply applying zero-knowledge proofs, but embedding privacy logic into the storage architecture, allowing privacy data to be stored in a distributed manner without exposure. Swap, lending, mining strategies—no more worries about being targeted by snipers.

The $WAL token plays multiple roles within this ecosystem. In governance, holders vote on privacy parameters and fees; in staking, users can become validators or storage nodes, earning dual income from protocol fees and storage rewards; in applications, it is used to pay for private transaction gas, unlock advanced features, and access liquidity pools. As privacy demands grow stronger, the practical use cases for $WAL will continue to expand.