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In the process of gaining a deeper understanding of Web3 long-term protocols, Walrus has indeed left a strong impression. What attracted me was not those grand narratives, but the project's pragmatic attitude—focusing on the refinement of mechanism security and transparency rather than blindly chasing trending data and hype. The $WAL token design is also very interesting, completely breaking away from the short-term liquidity token routine, deeply binding governance rights and ecosystem participation together, which shows the team's genuine consideration for the long-term ecosystem. The liquidity aspect has also been kept in check, without those high-yield traps that lure quick in-and-out of funds. This "slow" approach is indeed rare in the crypto market, and it is worth continuously following the actual progress of this project.