Walrus Protocol Raises $140 Million in Token Sale Before Mainnet Launch
The Walrus protocol secured $140 million in a private token sale for its native token, WAL. The round was led by Standard Crypto and included participation from firms like a16z crypto and Electric Capital.
Mainnet launch is set for March 27 on the Sui layer-1 blockchain, developed by Mysten Labs. The platform aims to address the increasing demand for data storage, particularly driven by AI advancements.
Key points include:
- The funds will enhance the decentralized data storage protocol.
- Applications will be built on top of the protocol.
- The focus is on making data storage programmable, interactive, and secure through Sui's architecture.