There is a phenomenon worth warning about—Walrus has indeed attracted many multi-chain users through cross-chain bridges, but this so-called "bridge income" is essentially just a traffic entry fee, which is not the core value of the storage business at all.

Where is the problem? This income heavily relies on airdrop expectations and short-term incentives. Once the incentives stop, the income could plummet. Even more painfully, this approach easily causes project teams to become obsessed with easily quantifiable "interaction data," while neglecting the more difficult-to-obtain but more vital "storage income."

If the proportion of bridge income is too high, resource allocation will be skewed, and market perception will be distorted—mistaking hype for prosperity.

What truly matters is how many of these cross-chain users will eventually settle down and pay real money for storage services, rather than just passing through. This is the key indicator to measure the health of the project.