Decentralized finance has been stuck on two issues: lack of transparency in data and overly complex operational processes.

Walrus's approach is very hardcore—let the data speak for itself. It converts sensitive information like transaction snapshots and collateral lists into on-chain verifiable formats. Smart contracts will challenge nodes before executing liquidations. Missing files automatically halt the process, directly blocking black swan events.

This practice is already underway. A leading prediction market platform has recorded $5 million in transaction volume data directly onto the protocol block, not only increasing transparency but also establishing fully traceable betting records, completely eliminating dark box operations.

Even more interesting is the liquidity aspect. Developers can use staked WAL to derive LST tokens, which can directly participate in lending to earn interest without unstaking. Security and returns are both achieved.

Looking at governance, stakers vote by weight to adjust penalty parameters, and anyone can audit the data files behind proposals. This is true transparent democracy.

In the future, once the Slashing mechanism is implemented, node operation will shift from rough "land grabbing" to refined management. Bad nodes are cut, good nodes earn more rewards, and network security and trustworthiness will rise accordingly. When the next market wave arrives, investors will pay more attention to these details.