Walrus Protocol's token WAL has recently attracted a lot of discussion, mainly because its economic model is relatively rigid.

In terms of use cases, the platform's annual storage consumption is about 365 million WAL, which is a real consumption. Node participants can earn an APY of 18%-25%, providing genuine motivation. Plus, governance voting rights allow participants to influence parameter adjustments. These three aspects basically cover the core needs.

On the supply side, the project has set up a dual deflationary mechanism—storage consumption plus staking lock-up, both continuously reducing supply. On the demand side, the AI and NFT sectors are about to explode, and the demand for on-chain data storage will only grow.

Therefore, in the long term, WAL still has room to rise. It mainly depends on whether this model can truly be operationalized and the market's actual conversion of storage demand.