The most valuable Sui airdrop? WAL token value comprehensive forecast

Author: Alex Liu, Foresight News

WAL token airdrop

Recently, the new protocol of Sui developer Mysten Labs - the decentralized storage and data availability protocol Walrus has conducted token airdrops in the form of distribution NFTs. The Sui wallet address of the qualified community members has received the Soul-bound (untransferable) Walrus Airdrop NFT. The number of WAL tokens is displayed in the NFT, so that they have the right to claim the corresponding number of WAL generations when the main network is online in March. currency.

The airdrop distributed 4% of the total supply of WAL 5 billion, while the other 6% were reserved for future community incentives and ecological distribution. Introduction to the Walrus protocol, recommended reading the author's article in September last year: Interpretation of Walrus, Sui's new solution to the decentralized storage Sui development team, independent PoS chain, new governance token WAL, potential airdrop opportunities

According to statistics, about 120,000 Sui addresses received WAL airdrops, 80% of the addresses were less than 1,000, and there were 142 addresses with tokens of more than 80,000, and only one address received 100,000 tokens. top grid airdrop. The qualification requirements for airdrops involve Walrus testnet interaction, SUI token native staking, Sui chain active DeFi, NFT users, Galaxy active users, Meme competitions held by Walrus, etc.

The author’s link owner’s address received more than 90,000 tokens, ranking in the top 100 of all links, barely establishing the character of “in-depth participation in the Sui ecosystem”.

WAL token number address distribution statistics

Comparison of market value: from FIL, AR to Mysten Labs ecosystem

In the field of storage protocols, Filecoin (FIL) and Arweave (AR) already have good market value. FIL has built a huge ecosystem in data storage and retrieval, while AR has been favored by the market for its permanent storage solutions.

Currently, FIL's market value is about US$2 billion, the full release market value (FDV) is about US$6 billion, while AR's market value and FDV are about US$600 million. If the market value of FIL is fully released, the price of WAL will have a chance to exceed US$1; if the price of AR is compared, the price of WAL will be around US$0.1. There is a huge difference between the two. Which project is closer to Walrus' potential price?

Walrus, while just starting out, has strong support from Sui developer Mysten Labs, and we can find clues from the token performance of other projects in Mysten Labs.

NS is a domain name protocol on Sui, and the FDV on the day it was launched once reached US$300 million. DEEP is a liquidity agreement on Sui. When it was launched, FDV was only US$200 million, but it has been violently rising since then, with FDV approaching a maximum of US$3.5 billion, and it is still at around US$1.5 billion after the correction.

According to the author's observation, Mysten Labs' support for Walrus is greater than SuiNS and Deepbook. Its official Twitter account, co-founder, CEO and CPO, list Sui and Walrus in its account information. Based on this, it is speculated that the market value of WAL will most likely not be lower than the DEEP that has not received this treatment, that is, the price of WAL will be higher than US$0.3.

The editor's fantasy time

In addition to being a decentralized storage protocol, Walrus is also a data availability (DA) protocol. If you compare the token of TIA, the star product of this track, the price of the WAL token will exceed US$0.7. The extremely optimistic people in the Sui community directly said "Walrus = Filecoin + Celestia". If this model is established, the price of WAL is expected to reach more than US$2 - the editor will work N years less by relying on airdrops. I can only hope that the dream will come true.

Valuation conclusions and prospects

After comparing storage projects with higher market capitalization such as FIL and AR, and considering the additional premium brought by Mysten Labs' strong support and the current market environment, the reasonable price of WAL tokens may be between 0.3 and 0.6 USDT. If the pressure of selling at the opening airdrop falls below 0.2 USDT, the author will consider buying. If the market is extremely optimistic and exceeds 0.8 USDT, the author will sell most of the tokens.

WAL's pre-market price on PinataBot on Sui is about US$0.3, and the pre-market market has a shallow liquidity price for reference only.