+28%

est. 2Y upside i

A revolutionary storage network built on Sui, weWalrus is an application development platform that allows builders to store, read, manage, and program large data and media files, like video, images, and PDFs.

Rank

#2039

Sector

Decentralized Storage

Est. Liquidity

~4Y

Data Quality

Data: Medium

Walrus offers high risk-reward.

Last updated: July 3, 2026

Bull (10%)+280%

Walrus achieves dominant market share in decentralized storage, aided by Grayscale trust and AI SDK adoption. Valuation reaches $620M (4x entry), but diluted to 280% net gain.

Base (50%)+80%

Walrus grows steadily with moderate adoption, valuation doubles to $310M, net 80% gain after dilution.

Bear (40%)-100%

Walrus struggles to gain traction against incumbents and Web3 competitors, exit below $140M triggers liquidation preference, common stock zero, -100% loss.

Est. time to liquidity~4.0 years

Preference Stack Risk

severe

Funding Intensity

90%

Total funding of $140M versus $155M valuation implies 90% preference overhang; common stock only recovers value above $140M.

Dilution Risk

high

No revenue and early stage suggest additional fundraising likely, diluting common equity 15-25%.

Secondary Liquidity

limited

Token secondary market exists (Grayscale trust) but employee equity in common shares likely illiquid until exit.

Questions to Ask at the Interview

Strategic questions based on Walrus's data — designed to show you've done your homework.

  • 1

    “How does Walrus's token economics incentivize long-term storage?”

  • 2

    “What is the competitive moat against Filecoin and Arweave?”

  • 3

    “Given the high preference stack, how does employee equity align with common shareholders?”

Community

Valuation Sentiment

Our model estimates +28% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.