In this post:
- HyveDA obtained $50 million in pre-deposits after launching Symbiotic mainnet.
- Restakers will interact with HyveDA’s native Committee-X Vault and HyveDA’s Partner Vaults for deposits.
- HyveDA’s core principle is permissionless participation through the Data Availability Committees (DACs).
HyveDA announced that it has secured $50 million in pre-deposits from early contributors (restakers) in just two weeks. The firm also reached $25 million in TVL despite the crypto market crash triggered by President Donald Trump’s new tariff policy.
Pre-deposits for the company’s high-performance Data Availability solution began with the Symbiotic mainnet launch on Tuesday, January 28th. The high-throughput middleware data availability protocol kicked off with a cumulative deposit cap of $50M across all participating vaults. The firm also revealed that it clocked $25M in total value-locked (TVL) pre-deposits within just four hours.
HyveDA acquires $50 million in pre-deposits
HyveDA noted that it had to cap the pre-deposits at $50 million amid massive investor demand to ensure a controlled and secure onboarding process. The firm argued that it wanted to allow the protocol to scale responsibly while maintaining robust security and performance.
The data availability layer acknowledged that the deposited funds would not be subject to slashing or operation risk. The elimination of operation risk will allow early contributors an opportunity to engage with the protocol’s foundational phase without putting their assets at risk.
HyeveDA believes that the record pre-deposits marked a significant milestone for the company, which is yet to launch its testnet. The protocol also highlighted that the successful pre-deposits phase ensured the necessary cryptoeconomic security to make the company a leading network within the Symbiotic system. According to the firm, pre-deposits are crucial to propel HyveDA to become the first ever 1GB/s data availability solution.
“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.”
-Douwe Faasen, the Founder and CEO of HyveDA.
HyveDA revealed that pre-deposits came from a fairly decentralized pool of investors rather than just a handful of investors. The restakers interacted with two types of vaults, HyveDA’s native Committee-X Vault and HyveDA’s Partner Vaults. The firm’s Partner Vaults included EtherFi, MEV Capital, Re7, Steakhouse, Gautlet, and P2P. The protocol said the investors were eligible to start earning Hyve Points combined with additional reward structures after they deposited wstETG into qualifying vaults.
HyveDA focuses on establishing a high-throughput protocol
HyveDA highlighted that it is building a modular data availability protocol designed for high-throughput protocols. The data availability protocol is designed to cater to data-intense blockchains and decentralized applications. The firm said that the protocol would guarantee security through a fully decentralized Delegated Proof-of-Stake network powered by Symbiotic’s fully permissionless and modular restaking protocol. HyveDA also disclosed that Symbiotic has roughly $2 billion of multi-asset restaking TVL that are spread across 18 different liquid restaking tokens (LRTs).
The protocol argued that pre-deposits represented an exclusive opportunity for early contributors to engage deeply with the platform and start generating Hyve Points. Hyve Points will be calculated retroactively to ensure fair distribution, and all points earned during the pre-deposit phase will carry over to the following phases. The company said it will release details on the utility of Hyve Points at a later stage.
The protocol revealed that restakers in the HyveDA Committee-X Vault can create their own vault(s) once the pre-deposit phase is complete. The restakers can also join other vaults created by Hyve, such as Mellow, or other external parties, provided they are connected to the HyveDA protocol.
HyveDA employs a permissionless Data Availability Committee (DAC) to ensure that anyone can help maintain data availability. The firm said it uses permissionless DACs because the nodes do not need to reach consensus to participate. DACs make scaling much easier and allow for much higher throughputs of data at lower costs, as per the protocol.
