HyveDA: Q4 Roundup

And just like that, 2024 is over, and 2025 has begun. During 2024, we remained committed to our vision of providing builders with the most high-performant Data Availability Layer, while allowing them to leverage Ethereum's underlying security through @symbioticfi's shared security framework.

Before we delve into a new and promising year, it's important to highlight some of the accomplishments that took place in the fourth quarter of 2024, which was a busy one for HyveDA. As we pave the way for Testnet, we’ve onboarded industry-leading node operators, curators, and collateral types, while simultaneously fostering valuable partnerships, and progressively establishing Hyve as a thought leader in the DA space.

HyveDA aims to set the new standard for high-performance Data Availability solutions and as we move forward, it’s always important to acknowledge where we’ve been. Let’s take a look back on the past quarter.

Pre-Seed Funding Round Completed

Q4 kicked off with a banger.

As its first big milestone, Hyve successfully completed its Pre-Seed funding round alongside key contributors such as Lemniscap, Paper Ventures and Frachtis. The completion of the Pre-Seed funding round has given Hyve the necessary resources to scale its team and product. Since then, the road to Testnet has been HyveDA’s main focus.

Road to Testnet: Strategic Node Operators

As we focus on HyveDA’s upcoming Testnet, we’ve successfully onboarded many of the most well known node operators within the blockchain industry. These strategic node operators not only see the value in what we are doing here at Hyve and want to be a part of history, but they also share some essential values that make them extraordinary contributors to HyveDA's vision. We’re glad to have them!

P2PValidator
The first Staking-As-A-Business solution for institutional and intermediaries. P2P Validator has been a key player in the PoS space since 2018, managing over $4 billion in staked assets for more than 20,000 investors across 25+ blockchain networks. They've built a strong reputation based on their extensive expertise and commitment to client success

StakeCapital
The brainchild of blockchain pioneer Julien Bouteloup. The firm operates as an evergreen multi-strategies prop shop achieving best-in-class outcomes, and is now moving to become a full fledged Asset Manager. It validates 20 blockchains and bridges, and runs a venture studio simultaneously.

Dsrvlabs
DSRV is a leading blockchain infrastructure company with $1B+ staked, 40+ blockchains supported, and a mission to provide effortlessly simple, ready-to-use solutions. They focus on removing the roadblocks companies face when entering the blockchain ecosystem, increasing access. By building products that strengthen the bonds between players they are enabling growth within the ecosystem.

f5nodes
With bare-metal servers in 17 locations worldwide, they offer a geographically distributed infrastructure that enhances the resilience and fault tolerance of the network. F5 Nodes will contribute their expertise in software development, providing essential services such as validator operations, monitoring systems, endpoints, and general infrastructure support.

Kiln Finance
Leading enterprise-grade rewards management platform, enabling institutional customers to earn rewards on their digital assets. Masters of security, compliance and performance, with 40 chains integrated and a TVL of $8B+.

P-Ops
With over $400M in staked assets across many networks such as Solana, Avalanche, and Sui, the P-Ops team has technology experts spanning three continents, and they offer invaluable expertise in validation, staking services, growth acceleration and investment capital.

01 Node
Supporting over 30+ networks, having more than $350 million in assets under their stewardship, over 50,000 delegators, they have proven to be agile while constantly maintaining a high level of integrity and security.

Key Partnerships and Collaborations

Besides onboarding a repertoire of premium node operators, Hyve has also been laser focused on properly establishing the restaking primitives by onboarding the right curators and collateral assets to strategically utilize Symbiotic's shared security framework.

Curators

Mellow Protocol (@mellowprotocol)

A modular Liquid Restaking primitive for permissionless LRTs (Liquid Restaking Token) creation and curation on Symbiotic. The integration of curators such as Mellow Protocol facilitates the implementation of wstETH as restaking collateral, and emphasizes HyveDA’s efforts towards securing its upcoming Data Availability solution with the most liquid, secure and widely accessible assets.

Collateral Assets

Lido Finance

The leading liquid staking protocol, bringing Wrapped Staked Eth (wstETH) as collateral to HyveDA. Pioneered by Lido, wstETH has seen widespread adoption and integrations across the Decentralized Finance (DeFi) space, and now across the restaking space, standing as the leading collateral asset in Symbiotic. wstETH extends Ethereum through the restaking of staked assets, allowing HyveDA to leverage the underlying economic security ensured through staked ETH. This added utility to ETH stakers makes HyveDA, through Symbiotic, a very attractive opportunity to bring further value out of assets they already own in a safe and secure fashion.

wstETH will also be the first collateral asset in Hyve's X Committee: The permissionless data availability committee composed of ETH staked assets.

In short, curators such as Mellow allow Hyve to take advantage of the millions of dollars worth of Lido’s wstETH thanks to Symbiotic's shared security framework. Having the support of these powerhouses helps to propel Hyve forward and keep our momentum strong.

Thought Leadership

Hyve’s very own Douwe Faasen and Chris Dahmen attended Devcon this year in Thailand where they got their finger on the pulse of data in the cryptosphere. Believing that restaking will dominate the space in the next six months, the guys educated and advocated on the need for improved infrastructure surrounding the building of apps and chains.

This quarter also saw Douwe sit down with the Master of DeFi at Lido Finance, DeFi Yako, and the Head of Ecosystem at Symbiotic, Felix.

They discussed restaking with wstETH, HyveDA’s role in the Lido ecosystem, strategies for attracting TVL and how they see the future unfolding. The video is a must watch!

Community Engagement

Don't miss any updates, and make sure to follow HyveDA's social media accounts and join our discord channel. As Testnet approaches, community activities will keep increasing. We are excited to not only collect performance data, but share with our community, field questions and increase the general knowledge around data availability.

2025

Now that many of the primitives have been addressed during 2024, this year will be focused on execution and conversion, and the next big milestone is fast approaching: Testnet.

HyveDA will focus on providing builders with the most high-performant data availability solution up to date, perfect for high-throughput use cases such as DePIN, RWAs, and AI.

We will see a lot of this in 2025.

About Hyve

HyveDA is a 1 GB/s middleware data availability solution secured by Symbiotic. By leveraging a novel Permissionless DAG architecture, HyveDA achieves industry-leading gigabyte throughput while maintaining Ethereum's underlying security. For more information about Hyve, visit https://hyveda.xyz/.