TL;DR
- Walrus Foundation has raised $140 million through a private token sale led by Standard Crypto with participation from many investors.
- The launch of its Mainnet, scheduled for March 27, will enable the management of large volumes of data, from AI to media files.
- The WAL token distribution model allocates over 60% of the tokens to the community, including airdrops, subsidies, and developer support.
Walrus Foundation has announced a fundraising of $140 million through a private token sale led by Standard Crypto, with participation from other investors such as a16z crypto, Electric Capital, and Creditcoin, among others.
This funding aims to promote the development of Walrus, a decentralized storage platform designed to transform how data is managed and stored through blockchain technology.
The launch of Walrus’ Mainnet, scheduled for March 27, will mark a turning point for the platform. It will enable the storage and management of large volumes of data, from AI datasets to media files and websites. Its protocol is based on Sui and utilizes Move-based smart contracts to manage both on-chain and off-chain data, ensuring that data is preserved throughout its lifecycle.
Walrus Challenges Traditional Storage Solutions
One of the main features of Walrus is its ability to turn storage into a programmable and interactive resource. This means that data is not only stored but can also be manipulated and dynamically managed through smart contracts. This approach will enable new financial applications, in addition to offering a scalable and cost-effective solution for data management across various sectors.
The platform has also revealed its WAL token distribution model, which is designed to benefit the community. Over 60% of the tokens will be allocated to incentives such as airdrops, storage subsidies, and developer support. This includes 10% for early users and 43% for the community reserve, ensuring that a significant portion of the token supply will be used to strengthen its ecosystem.
Walrus seeks to become an innovative alternative for decentralized storage, challenging traditional solutions that have faced scalability and security issues
