HyveDA Secures $50 Million In Pre-Deposits Following Symbiotic Mainnet Launch

The Hyve middleware DA protocol secured by Symbiotic has achieved $50 million in deposits from early contributors in only two weeks. When the Symbiotic mainnet started on January 28 the HyveDA pre-deposit phase let users deposit a total of $50M across all qualified vaults before this offering reached its limit. The system collected $25 million in total value of locked funds in four hours despite market decline because Donald Trump introduced new tariff rules.

High demand for deposits required HyveDA to restrict pre-deposit amounts to $50 million to protect both new and seasoned investors. Limiting investments to $50M helps the protocol grow sustainably with excellent safety and speed of operations. People who fund HyveDA early have protection for their deposited assets from operational failures and slashing. This setup lets investors experience HyveDA development with peace of mind.

The accomplishment of reaching $50M deposits proves important since HyveDA has not deployed its testnet platform yet. The funding allows HyveDA to establish secure operations in the Symbiotic platform as it becomes a top data availability protocol for the Symbiotic ecosystem. As the first 1GB/s DA system of its kind HyveDA uses pre-deposits to build a new speed standard in blockchain infrastructure.

Douwe Faasen, the Founder and CEO of HyveDA, commented, “This milestone is a testament to how hard the HyveDA team has been working to build valuable connections and working with the best in the industry. The trust and demand that people have put into our high throughput DA is exciting. We’re ready for the next phase with technical releases, network growth, and further solidifying HyveDA as a cornerstone in the Symbiotic ecosystem.”

Investors coming from multiple sources made up the initial deposits rather than funding from a small group of financial entities. The restakers handled two distinct types of vaults: HyveDA’s Committee-X Vault alongside its partnering vaults from EtherFi, Renzo, MEV Capital, Re7, Steakhouse, Gautlet and P2P. Any depositor into qualified vaults gained Hyve Points alongside premium rewards.

HyveDA develops a modular system to secure abundant data flows for blockchains and decentralized programs. A secure network runs on the Delegated Proof-of-Stake consensus model with the decentralized Symbiotic restaking protocol to protect blockchains. Symbiotic holds $2 billion worth of multi-asset restaking TVL through its 18 different liquid restaking tokens.

The pre-deposit phase offers first users a unique chance to become deeply involved in the platform while generating Hyve points from the start. To give everyone equal opportunities Symbiotic will base Hyve Point calculation on previous actions before moving to later stages and all the points earned in pre-deposit are included. At a future time HyveDA will disclose the essential uses for these points within its system.

Following the pre-deposit phase the restakers in the HyveDA Committee-X Vault can either make their own vaults or choose to join existing vaults made by Hyve or external partners who attach their systems to HyveDA. 

HyveDA enables anyone to join its Data Availability Committees without follow restrictions in their participation. HyveDA uses a permissionless DAO to give anyone the chance to ensure data remains accessible while traditional DAC leaders require approved participants to operate central batches. Permissionless Data Availability Committees enable easy scalability and smooth functioning that produces major data capacity and fee savings.

About Hyve

Hyve offers an advanced data availability technology that delivers fast data processing at affordable prices. HyveDA proves Hyve’s commitment and technical capabilities to fix DA scalability problems which set the basis for new blockchain systems. HyveDA serves high data requirements of applications like DePIN, AI apps, parallel execution environments, rollups and Layer 2 systems.

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