Haedal Staked WALPrice

(HAWAL)

haWAL is a liquid staking token (LST) issued by the Haedal Protocol, representing staked WAL tokens on the Walrus storage network. Unlike traditional staking where tokens are locked and unusable, haWAL allows users to maintain liquidity. When you stake WAL via Haedal, you receive haWAL as a receipt. This token represents your staked assets plus any accrued rewards, enabling you to participate in the Sui ecosystem while still earning staking yields.

haWAL uses a value-accruing mechanism rather than a rebasing model. Instead of the number of tokens in your wallet increasing, the value of each haWAL token grows relative to WAL. As the Walrus network generates staking rewards, they are added to the Haedal staking pool. This increases the exchange rate over time, meaning one haWAL will represent a larger amount of WAL. You realize these rewards when you eventually swap or unstake back to WAL.

As a standard fungible token on the Sui blockchain, haWAL is highly versatile and can be used across various decentralized finance (DeFi) platforms. Users can provide liquidity in trading pairs on decentralized exchanges, use haWAL as collateral on lending and borrowing protocols, or deposit it into yield strategy vaults like haeVault. This allows for yield stacking, where users earn both network staking rewards and additional incentives from DeFi activities.

There are two primary ways to exit a haWAL position. First, you can request official unstaking through the Haedal dApp, which follows native Walrus protocol rules and typically involves a standard processing period. Alternatively, because haWAL is liquid, you can perform an instant swap for WAL on a decentralized exchange. While swapping provides immediate liquidity, the market price may vary slightly from the protocol's backing value depending on supply and demand.

Haedal typically charges a service fee on the staking rewards earned to maintain the protocol. Regarding risks, users should consider smart contract risk, as vulnerabilities in the code could affect the underlying assets. There is also slashing risk; if the node operators Haedal delegates to are penalized by the network for poor performance or malicious activity, a portion of the staked WAL could be lost, which would decrease the value of haWAL.

haWAL and HAEDAL serve distinct purposes within the ecosystem. haWAL is a liquid staking receipt for your staked Walrus tokens, with its value derived from WAL staking rewards. In contrast, HAEDAL is the governance token for the Haedal Protocol. Holders of HAEDAL can vote on protocol changes or lock their tokens to earn a share of protocol fees and boost their yields. While haWAL provides staking exposure, HAEDAL is used for protocol management.