Hyve, a high-throughput middleware data availability protocol secured by Symbiotic, raised $50 million in pre-deposits from restakers in as little as two weeks between January 28 and February 14 for HyveDA, a novel data availability solution, as per the latest information shared with Finbold.
The drive started at exceptional speed as it clocked $25 million in total value locked (TVL) within the initial hours before slowing down due to the shockwave emerging from President Donald Trump’s tariff announcements.
As HyveDA explained, the decentralized funding drive, had to be capped at $50 million despite exceptionally high demand to ensure a controlled and secure onboarding process, allowing the protocol to scale responsibly while maintaining robust security and performance.
The company also promised that the early contributors for the project focused on HyveDA’s high-performance data availability solution will have an opportunity to engage with the protocol’s foundational phase without putting their assets at risk.
Round helps HyveDA push to become first ever 1GB/s data availability solution
The process has been particularly important for HyveDA as it secured sufficient cryptoeconomic security to make the data availability protocol a leading network within the Symbiotic ecosystem.
Furthermore, it described the pre-deposits as crucial to helping HyveDA become the first ever 1GB/s data availability solution.
Douwe Faasen, the Founder and CEO of HyveDA, noted:
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.
Hyve unveils subsequent phases for its roadmap
HyveDA also outlined its roadmap for the continued development of the platform, including the ability for restakers in the HyveDA Committee-X Vault to make their own vaults or join other vaults created by Hyve, Mellow, or other external parties that are connected to the protocol.
Early contributors will also earn Hyve Points, a reward system designed to incentivize long-term participation. Points earned during pre-deposits will carry over to future phases.
In the entire process, HyveDA emphasized the core principle of permissionless participation through the Data Availability Committees (DACs).
Unlike traditional DACs, which often rely on permissioned networks and centralized batch proposers, HyveDA employs a permissionless DAC to ensure that anyone can help maintain data availability. In permissionless DACs, the nodes do not need to reach consensus to participate, making scaling much easier and allowing for much higher throughputs of data at dramatically lower costs.
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