Walrus Foundation 'makes waves' with a $140 million funding round
Walrus Foundation, the organization behind the decentralized storage protocol Walrus, announced the completion of a $140 million funding round through the sale of WAL tokens. The funding round was led by Standard Crypto. This is one of the most notable deals in the blockchain sector at the beginning of 2025.
Unlike traditional funding rounds, the entire amount is invested in the form of WAL tokens, demonstrating strong confidence from the funds in the potential of the Walrus Protocol.
According to the plan, Walrus Foundation will use the funds to expand the decentralized storage protocol, develop the application platform, and prepare for the mainnet launch event on March 27. With support from the Sui blockchain, Walrus promises to deliver fast, affordable, and programmable data storage solutions to meet the increasing demand in the Web3 and AI era.
Initially developed by Mysten Labs, Walrus is a decentralized storage protocol built on Sui, allowing applications to manage large data (blob) through smart contracts using Move.
Along with the funding information, Walrus Foundation announced the tokenomics of WAL with a total supply of 5 billion tokens. The initial circulating supply is 1.25 billion WAL, allocated as follows:
Airdrop: 10% (4% before mainnet, 6% after mainnet)Community reserve: 43%Team: 30%Storage node grants: 10%Investors: 7%