Treasury transparency is one of those issues where intent matters as much as format. The Walrus Foundation positions its WAL treasury as a tool for long-term protocol health, not as a discretionary trading pool.
Spending is generally tied to defined categories like development, research, grants, and ecosystem support. While not every operational expense is streamed in real time, the framework aims for explainability over opacity. Major allocations are expected to be visible through governance processes, disclosures, or structured reporting.
From my point of view, transparency here is evolutionary. Early-stage foundations often balance openness with operational practicality. What matters is that treasury usage is predictable, purpose-driven, and reviewable—so trust is earned through consistency rather than constant signaling.