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Gate.io, KuCoin, and MEXC to List Walrus (WAL) Token Following Mainnet Launch

Gate.io, KuCoin, and MEXC are preparing to list the Walrus (WAL) token later today, marking a significant milestone following its mainnet launch and Token Generation Event (TGE). This development is expected to draw attention from cryptocurrency enthusiasts and investors alike.

Gate.io Listing Details

According to an official announcement, Gate.io will list Walrus (WAL) for spot trading against USDT on March 27 at 10:00 AM UTC. The WAL token will be exclusively available on the Sui network. While deposits are already open, withdrawals will commence on March 28 at 10:00 AM UTC.

From March 27 to April 8, users can stake their WAL tokens to earn additional tokens every hour. Rewards will be distributed based on the proportion of assets staked, with a total airdrop pool of 200,000 WAL tokens available during this period.

Token Generation Event and Ecosystem Integration

The listing coincides with the WAL token’s TGE and the official launch of the Walrus mainnet. This mainnet will enable users to utilize WAL tokens within the broader Walrus ecosystem for various functions and services.

The public testnet for the Walrus Protocol was initially launched in October last year, paving the way for today’s mainnet debut. Other major exchanges, including KuCoin, MEXC, Bitget, and Bithumb, are also set to list WAL simultaneously with Gate.io.

Tokenomics of WAL

Walrus Protocol’s tokenomics reveal that WAL will have a maximum supply of 5 billion tokens. Over 60% of this supply is allocated to the community to drive adoption and growth:

  • 10% for airdrops to early users.
  • 43% reserved for grants, developer support, and incentive programs.
  • The remainder is set aside as subsidies for storage node operators.

The remaining allocation includes 30% for core contributors and 7% for early investors who supported the project during its fundraising phase. With no vesting period on the airdropped tokens, early volatility is anticipated as recipients may take profits.

Understanding Walrus Protocol

Walrus Protocol is a decentralized storage and data availability solution designed specifically for large binary objects, commonly referred to as blobs. Built on the Sui blockchain, it aims to address key challenges in decentralized storage networks, such as scalability, cost, and fault tolerance.

“Walrus is focused on delivering a blob storage layer optimized for decentralized applications, enabling resilient, cost-efficient, and scalable data storage solutions.”

The protocol operates by distributing data across a global network of nodes, each competing for user stake. This approach enhances resilience and ensures high availability, making it ideal for use cases like NFTs, decentralized social media, and AI datasets.

The Role of WAL Token

The WAL token serves multiple roles within the Walrus ecosystem:

  • Payment for storage services.
  • Securing the network through staking.
  • Participation in protocol governance.

Users can delegate WAL tokens to node operators to earn rewards or vote on proposed changes to the network, fostering a community-driven approach to ecosystem development.

Backed by Leading Investors

Walrus Protocol has garnered significant support from prominent investors, including a16z crypto, Electric Capital, and Franklin Templeton Digital Assets. The protocol recently raised $140 million in a funding round led by Standard Crypto, underscoring its potential in the decentralized storage space.

As Walrus’s WAL token begins trading on Gate.io, KuCoin, MEXC, and other exchanges, its innovative approach to data storage and governance is likely to attract attention from investors and developers seeking scalable solutions in blockchain technology.

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