Mr-Bright

@Plasma Многие люди могут подумать, что это просто обычное кросс-цепочное сотрудничество.
Но я долго смотрел на это предложение "Ценообразование, эквивалентное CEX (ценообразование, эквивалентное CEX)".
Это напоминает мне дилемму, с которой я сталкиваюсь каждый раз, когда продаю большие объемы спота на CEX:
Хотя я боюсь замораживания карт и вставки игл, я должен это вынести ради этой глубины.
В цепочке безопасно, но это проскальзывание действительно больно.
Это была мертвая точка между DEX и CEX на протяжении долгого времени.
Но логика, интегрированная Plasma на этот раз, на самом деле касается 'ударов по снижению размерности'.

Сначала я считал, что Vanar — это еще один блокчейн. Но чем больше я узнал, тем больше увидел, что у него более высокие цели. Vanar — это протокол уровня 1 на основе ИИ, который является сетью на основе Ethereum. Это то же самое, что токенизированный актив или реальные доходы, поддерживаемые ультрабыстрыми платежами, и он даже экологически чистый и доступный.

Команда продает Vanar как PayFi, развлечение и токенизированный актив на блокчейне. Единственная цель, которую она преследует, заключается в том, чтобы стать основой цифровых экономик следующего поколения. Этот документ опишет архитектуру Vanar, отличительные характеристики, дизайн токена и последние рыночные события, используя простые слова и мои собственные мнения.

Архитектура Dusk не основана на существующей цепочке; она разработана для управления регулируемыми финансами. Сжатая аттестация (SA) является базовым алгоритмом консенсуса. Она обеспечивает финальность транзакций в течение секунд, удовлетворяя потребности финансовых рынков (высокая пропускная способность, низкая задержка). SA является системой доказательства доли, в которой производители блоков и валидаторы подтверждают блок с помощью доказательств с нулевым разглашением. Чтобы быстро делиться информацией, \u003ct-63/\u003e использует Kadcast, одноранговый протокол, основанный на распределенной хеш-таблице Kademlia. Kadcast организует сеть в иерархические деревья и отправляет сообщения пирами на последующие большие расстояния, чтобы потреблять меньше пропускной способности и быстро и надежно распространять сообщения.

I have been following the development of web-native infrastructure, and one of the biggest discontinuities that I continued to notice is that blockchains are not designed to store the massive files that modern applications require: game art, AI models, high-resolution NFTs. The latter created the necessity of returning to the old cloud services and undermined the decentralization that we intended to achieve. The disappointment with this inadequacy resulted in my visit to Walrus, which does not consider data availability as a second-order concern.

Walrus is a decentralized system of data networks used concurrently with the Sui blockchain. It converts storage capacity and data stored within storage capacity to on-chain objects. Those can be programmed and can be governed by the same economic logic as other crypto primitives. I will discuss in plain language how Walrus addresses the data problem in the architectural, economic and developer-experience perspectives in this article. I will also discuss its technical innovations like Red Stuff and Seal, outline the token economics, compare it to other networks of decentralized storage and my thoughts on why it is significant.

Using Data as Infrastructure.

Fundamentally, Walrus acknowledges that blockchains are incapable of efficiently storing large and unstructured data. The customary off-chain, decentralized storage is either expensive to replicate in its entirety or depends on off-chain pinning, a concept that brings about trusted intermediaries. Walrus transforms it by storing programs programmably: blobs and quotas are stored as Sui objects. The MoveVM as Smart contracts can be used to auto-renew, provide access control and connect storage operations to larger application logic. Since the said objects reside on the chain, their condition and economics remain transparent and auditable.

Economics are key. Users pay to use the storage in advance and do not rent it as long as they know, but rather a specific storage duration on a silent network. The charges are then redirected in the long run to nodes that demonstrate that they hold the data at their disposal. WAL tokens are staked by storage providers and rewards are based on the performance of the nodes. Articles that do not store information or fabricate counterfeit evidence are slashed or penalized. This is a prepaid model that is proof-of-storage to avoid volatility in prices and store corruption in silence. Walrus makes storage available as reliable infrastructure and not a best effort service by treating storage as on-chain objects with economic guarantees.

Red Stuff: Erasure Coding of Physical Networks.
Red Stuff is a two dimensional erasure code scheme that would be considered among the best projects in the engineering works of Walrus. Other systems will either copy whole files, wasting bandwidth or simple erasure codes that will require the download of the entire blob in order to restore lost information. Red Stuff transforms every file into a set of primary and secondary slivers through a large number of nodes. When a sliver is lost only the missing portion has to be re-fetched; recovery bandwidth is identical to the lost data and not the entire file. This has a drastic effect on repair expenses, and lets the network run with approximately 4.5 replicas per file instead of 6 or more without affect on durability.
Red Stuff is asynchronically constructed. Latency varies and nodes are destroyed and created in a real world environment. Most of the erasure schemes rely on synchronous messages, and hence they can be subject to a timing attack. The proofs of Red Stuff can even operate with out of order messages, and allow enemies to claim that they are storing information. Walrus also spins storage committees in place to support node churn so that the data is always accessible even when the transition occurs. Such innovations introduce the decentralized setting of cloud resilience and efficiency.
Simple Storage and Retrieval Programmably.
What is the programmability of data? On Walrus, a blob is not just a URL. It is an object that has a life cycle. Smart contracts have the capability to automatically renew storage, ensure access to data can only be accessed or modified by a particular person, and whatever actions are performed can be paid with a token payment or ruled by a governance rule. As an illustration, an NFT can refer to a storage object with its renewal being charged using the royalties of the NFT, where the artwork will never be lost. A dApp may demand that there was evidence that a model dataset has been stored properly and then release funds to a compute provider.
This puts storage logic into the same composable environment as DeFi and governance, but it is brittle and off-chain. All objects are on-chain; hence, it is atomic, upgradable and auditable. This will be a massive simplification to developers who have had a hard time pinning services or with the unreliable IPFS links.
Seal: Programmable Secrets Management.
Secure storage of data is not the only challenge; several of the use cases require the control of who views or modifies data. In mid-2025, Walrus released Seal, a decentralized secrets-management service which employed threshold encryption. Seal allows its developers to encrypt data or secrets then to establish fine-grained decryption criteria. In smart-contracts, a storage provider never encounters plaintext and decryption only occurs based on the conditions embedded in the smart-contracts. This introduces new types of dApps:
* Data vaults owned by the users: It will allow users to save sensitive data and only provide access to a doctor or notary, upon meeting conditions. These conditions are imposed in the network without a central administrator.
* Token-gated media: Musicians or filmmakers will be allowed to sell access to their work. Walrus encrypts the content and can be decrypted by the holders of a specific NFT only. Storage is decentralized which means creators do not require a web server.
* AI model provisioning AI companies can safely output weights or APIs. A customer who has paid is provided with a decryption key that it can access within a specific time, and all the terms are placed on-chain.
Besides Seal demonstrates, Walrus is not only a storage layer but it is about managing data flows in a decentralized economy. Together with the efficiency of Red Stuff and programmable storage model, Seal makes Walrus a complete stack data platform.

The use of Token Economics and Incentives.
Walrus uses its own token, WAL. The token allows the users to pre-pay storage costs, stake on providers, and vote in governance. Its economic model is clearly defined: a user deposits funds depending on the selected duration of storage and the funds are released in small amounts to nodes with the condition of verification of availability. In case of misbehavior, a node can have its stake slashed and the prepaid storage of the user will be transferred to a healthier node. This match between users and providers is necessary to the long term sustainability.
The approach in the token allocation equalizes neighborhood incentives and the development of the core. In line with what Walrus has done on its token utility page, 43 percent of the supply will be allocated to community, 10 percent will be allocated to airdrops to early adopters, and 10 percent to network incentives and subsidies. The core contributors will have 30 per cent with early founders and Mysten Labs (15 per cent each). Another 7 % goes to investors. This design finances continued research, reward builders and makes adoption more likely without creating concentration of power in one group.
Ecosystem and Adoption
Walrus is not just a research project, it actually drives applications. The social platforms of SuiSign, a decentralized social platform, are then stored in Walrus (user profiles and user signatures), and the character art and metadata is stored in game studios like Pudgy Penguins. Flock.io is an AI platform based on Walrus using the programmable storage and Seal to provide machine-learning models with security. Decentralized music streaming and privacy-preserving voting are just some examples of dozens of projects starting with the network hackathons and grant programs. The core storage layer is composable, therefore each new project adds to a data availability commons.
Comparison of Walrus with Other Storage networks.
In an attempt to get a clear understanding of where Walrus would fit, I related it to two popular decentralized storage systems: Filecoin and IPFS. Each solution will be rated (out of 10) based on its availability, cost efficiency, programmability, and secrets management as shown in the chart below. These scores indicate trends in the industry and my exposure to the protocols.
The highest score for Walrus is in the programmability and secrets management since it views storage as on-chain objects and it also provides encryption using Seal. Filecoin is well available and cost effective in nature yet does not have a complete programmability layer. IPFS is cost-effective to address simple content but uses external pinning services to be persistent and lacks in-built encryption and a programmable renewal.
Image of Distribution of Tokens.

The representation of the distribution among the stakeholders highlights Walrus priorities on community adoption, but core development funding.
Most of the tokens will be allocated to community projects, and large denominations will be given to the initial donors and Mysten Labs to guarantee the further development of the protocol. The share of investors is a relatively small portion and network incentives are designated to user subsidies and storage rewards.
Reflections and Future Outlook.
In my own opinion, Walrus is a mature web-scale decentralization. It removes the economic and technical failures of previous systems by making storage a primitive on-chain and aligning incentives through prepaid charges and slashing, as well as inventing novel techniques in erasure coding. Its programmability and Seal integration allow applications, including AI, to music streaming, which was not achievable with the traditional storage networks.
#walrus is not without risks. The economic model presupposes the increase in demand; in case the storage demand is not increasing, the incentives of nodes might be weakened. The fact that it depends on the Sui chain implies that disruptions in the base-layer will be transferred to storage assurances. However, the open architecture, vibrant community, and significant research pipeline (with current effort in Quilt to support data analytics and cross-chain bridging) puts me at ease that it will remain the leader in the field of decentralized infrastructure.
I do not think this age of viewing data as an externality has been eliminated. Walrus demonstrates that storage may be as programmable, as secure, and cost-efficient as token transfers. It provides a strong alternative to developers and users who desire a censorship-resistant and durable storage with in-built privacy settings. The solutions such as Walrus might be the invisible hand beneath the water to ensure that the decentralized applications are actually self-sufficient, as the Web3 ecosystem matures.
$WAL @WalrusProtocol

С момента своего создания в 2018 году #dusk изменил направление с "криптовалюты для конфиденциальности" на создание базового уровня 1 (L1) блокчейна для следующего поколения глобальных финансов. На январь 2026 года проект перешел из своей интенсивной фазы разработки — завершившейся запуском основной сети 7 января 2026 года — в период агрессивного расширения рынка.

В этой статье рассматривается текущее рыночное положение $DUSK , его катализаторы роста и уникальное ценностное предложение в рамках институциональной финансовой инфраструктуры.

#Plasma is a next-generation Layer-1 blockchain engineered specifically for stablecoin transactions. Unlike general-purpose smart contract platforms, Plasma’s core mission is to serve as the settlement layer for stablecoins — chiefly Tether USD₮ — by combining full EVM compatibility (via Reth), sub-second finality (via PlasmaBFT), and stablecoin-centric innovations such as gasless USD₮ transfers and stablecoin-first fee mechanisms.
🌐 What Makes Plasma Unique? A Technical and Strategic Overview
At its core, Plasma addresses a growing pain in the cryptocurrency ecosystem: the inefficiency of stablecoin transfers. While stablecoins represent one of the largest and most liquid segments of on-chain activity — with tens of billions in global supply and trillions moving annually — the majority of this value still transacts on blockchains that were not designed for settlement rails. Plasma changes this by:
Implementing gasless USD₮ transfers for basic transactions, dramatically lowering cost barriers for global payments.Providing stablecoin holders with the ability to pay fees directly in stablecoins, making native token holding optional for basic usage.Leveraging PlasmaBFT, a Fast HotStuff-inspired consensus mechanism, to achieve sub-second finality and high throughput, critical for payment applications.Maintaining EVM compatibility via the Reth client, enabling seamless porting of Ethereum dApps and tooling.This architectural blend — a settlement-optimized chain that is still developer-friendly — positions Plasma to capture value that traditional blockchains currently miss or commoditize.
💰 Market Capitalization: From Fundraising to Token Launch
1. Valuation Through Fundraising
Before its token launch, Plasma demonstrated strong demand from the investment community:
In early 2025, Plasma raised $20 million in Series A funding, led by Framework Ventures with participation from Bitfinex, Tether leadership, and notable angel investors such as Peter Thiel.The project later expanded its token sale with a public raise targeting $50 million at a $500 million valuation, which was massively oversubscribedThese fundraising milestones underscore early confidence in Plasma’s thesis: that stablecoins need a dedicated settlement layer.
2. XPL Token Market Capitalization
With the launch of its native token XPL — which functions as the gas, staking, and reward token of the Plasma network — market dynamics shifted into high gear:
On debut, the $XPL token reached an initial market capitalization above $2.4 billion, based on early trading prices and circulating supply.At launch, approximately 18% of the total 10 billion XPL supply was in circulation, translating price performance into meaningful market valuation.Putting these figures in perspective, a $2+ billion market cap at launch for a chain dedicated solely to stablecoin settlement is significant: it places Plasma in a valuation tier that rivals or surpasses many multi-purpose L1 projects at similar stages. 📈 Growth Indicators: Liquidity, TVL, and Ecosystem Uptake
Beyond token price, Plasma’s real growth story lies in ecosystem adoption and liquidity metrics:
1. Stablecoin Liquidity and TVL
@Plasma launched with over $1 billion in stablecoin liquidity locked, reaching this level faster than most chains historically.Over time, reports indicated stablecoin holdings on Plasma exceeding $7 billion, signaling deep liquidity interest.At one point, estimates showed Plasma as one of the top five chains by stablecoin market cap, trailing only legacy leaders like Ethereum, Tron, Solana, and BSC.
These figures show not just speculative interest but real capital flowing into stablecoin settlements and DeFi use cases, which typically require genuine utility and composability.
2. Adoption by DeFi Protocols
Data from leading analytics providers — such as DeFiLlama — signify strong initial integration:
Major protocols like Aave had tens of billions of USD₮ on Plasma in deposits shortly after launch, making it one of Aave’s largest markets outside of Ethereum.This kind of adoption reflects confidence from institutional-grade DeFi projects in Plasma’s security, throughput, and stablecoin handling capabilities.
📊 Market Growth: Where Plasma Fits in the Broader Stablecoin Landscape
Plasma’s rise must be contextualized against the backdrop of the broader crypto ecosystem:
The stablecoin industry itself has ballooned into a multi-hundred-billion-dollar asset class, with daily transaction volumes rivaling major global payment systems.Traditional smart contract chains like Ethereum and Tron — while dominant in stablecoin activity today — often suffer from high fees, congestion, or misaligned incentives for settlement-level use cases.Plasma’s purpose-built design taps directly into this inefficiency, aiming to turn stablecoin usage from a costly application into a core utility. This shift could catalyze more on-chain settlement volume.If Plasma continues to expand in TVL, liquidity, and transactional throughput, it could reshape how stablecoins are routed and settled, capturing value that existing chains currently yield to transaction fees alone.
🧠 Conclusion: Strategic Positioning and Future Prospects

Plasma’s market cap and growth trajectory reflect a unique moment in crypto infrastructure:
Its launch valuation and subsequent market cap demonstrate investor and trader confidence in a stablecoin-centric L1, an idea that a few years ago might have seemed niche.Rapid accumulation of TVL and protocol integrations shows that stablecoin liquidity — not just speculative trading — is flowing to Plasma.By combining Bitcoin security, Ethereum compatibility, and tailored payment features, Plasma positions itself as the go-to settlement layer for digital dollars and other stable assets.

#vanar Цепочка - это AI-родной L1 блокчейн, специально разработанный для развлекательной, игровой и брендовой сфер. В отличие от блокчейнов общего назначения, которые приоритизируют теоретическую пропускную способность, Vanar акцентирует внимание на низкой стоимости, высокой скорости и экологически чистой инфраструктуре.

Ключом к его ценностному предложению является стек Vanar, который интегрирует искусственный интеллект непосредственно на уровне протокола. Это включает в себя:

Нейтрон: Семантический слой памяти для сжатия данных.
Кайон: Двигатель AI-рассуждений для упрощения "интеллектуальных" транзакций в цепочке.

@Walrus 🦭/acc Протокол является децентрализованной платформой хранения и доступности данных, построенной на блокчейне Sui. В отличие от традиционных децентрализованных проектов хранения, которые сосредоточены на постоянном архивном хранении, Walrus подчеркивает большое блоб-хранение (например, видео, изображения, наборы данных) с интеграцией программируемых смарт-контрактов, доступом в реальном времени и эффективной производительностью.

Токен WAL является родной валютой, обеспечивающей:
Платежи за хранение и операции с данными

Ставки для обеспечения узлов хранения

Влияние на управление
Предоставление ликвидности на DEX и CEX

1. Что такое Dusk Network?
Основанная с миссией примирить конфиденциальность блокчейна и соблюдение нормативных требований, Dusk Network — это блокчейн первого уровня, предназначенный для институциональных финансов, соответствующего DeFi и токенизированных реальных активов (RWAs). В отличие от публичных блокчейнов, которые транслируют все детали транзакций, #dusk использует нулевое знание криптографии (такие как доказательства PLONK и zk-SNARKs), чтобы обеспечить конфиденциальность смарт-контрактов, которые все еще позволяют регулированный надзор, когда это необходимо — критически важный выбор дизайна для традиционных финансовых учреждений, стремящихся к преимуществам блокчейна без компрометации конфиденциальности данных или юридического соблюдения.

#Plasma является специально разработанным блокчейном первого уровня, ориентированным на расчет со стейблкоинами и глобальные платежи, отличая себя от универсальных цепочек, таких как Ethereum или Solana. Он спроектирован для обеспечения высокой пропускной способности, финализации за субсекунды и ультравысоких или нулевых затрат на газ для переводов USD₮ (USDT), решая основные проблемы, связанные с использованием стейблкоинов в цепочке, такие как высокие комиссии, медленные расчеты и фрагментированная ликвидность.
Основные технические характеристики
PlasmaBFT Consensus — высокопроизводительная система, устойчивая к византийским ошибкам, разработанная для финализации за субсекунды и пропускной способности, подходящей для операций на уровне платежей.