Newsroom

Newsroom

January 28, 2025

Pre-Deposits on HyveDA Go Live with Supply Cap of $50M

Symbiotic Mainnet is now live, kicking off Pre-Deposits for HyveDA’s high-performance Data Availability solution. Pre-Deposits will represent an exclusive opportunity for early contributors to engage more deeply with the platform and its evolving ecosystem while generating Hyve Points.

Symbiotic was born out of the desire for reliable and accessible security across networks, effectively creating a marketplace for economic security. Networks that need security can access it from those who have the assets to stake, instead of having to recreate or fragment the existing security model. This in turn creates an efficient ecosystem where cryptoeconomic security can be shared and utilized across multiple networks. Essentially, stakers are able to maximize their gains while networks are able to maximize their security.

Symbiotic Mainnet

Today, Symbiotic has announced its much anticipated Mainnet! A successful Devnet saw the ecosystem experience explosive growth:

  • $1.9 billion of multi-asset restaking TVL, spread across 18 different LRTs

  • 50+ networks

  • 82 distinct operator entities

  • 93 vaults deployed

  • 40+ strategic partnerships

This is proof that Symbiotic executed during Devnet and that momentum has carried them into a successful Mainnet launch. Now, with Symbiotic Mainnet here, the focus remains on successfully conducting HyveDA’s Pre-Deposit phase to attract the necessary cryptoeconomic security to make HyveDA a top network within the Symbiotic ecosystem.

Pre-Deposits for HyveDA Go Live

Pre-Deposits for HyveDA are now live. As we pave the way towards the first GB/s Data Availability solution, this phase represents a key step in HyveDA’s journey.

Now, early contributors (restakers) can deposit wstETH into qualifying vaults. During the initial Pre-Deposit phase, HyveDA will set a cumulative deposits cap of $50M across all participating vaults. This cap ensures a controlled and secure onboarding process, allowing the protocol to scale responsibly while maintaining robust security and performance.

It’s important to highlight that deposited funds will not be subject to slashing or operations risk, meaning that early contributors will have an opportunity to engage with the protocol’s foundational phase without putting their assets at risk.

All the points. None of the risk.

Hyve Points

HyveDA Pre-Deposits campaign will provide early depositors a unique opportunity to start generating Hyve Points. To participate, users only need to deposit wstETH in any of the qualifying vaults, and their stake will start generating points immediately.

Hyve Points will be calculated retroactively to ensure fair distribution, and all the points earned during the pre-deposit phase will carry over to the following phases. These points will play a key role in HyveDA’s ecosystem, with details on their utility to be revealed at a later stage. For now, one thing is certain: the earlier you participate, the greater your potential impact—and rewards. To participate in the Hyve Points program, check out the next section about qualifying vaults.

Vaults

Hyve is committed to offering flexibility in choice and connecting ecosystems. For the Pre-Deposits phase, there will be two types of vaults for users to interact with: HyveDA’s Committee-X Vault, and HyveDA’s Partner Vaults.

HyveDA’s Committee-X Vault: HyveDA’s main vault that users can deposit into using Mellow.

HyveDA’s Partner Vaults: A repertoire of vaults alongside the best curators in the restaking space, providing early contributors with a wide array of the best alternatives available. These include:

By depositing wstETH in any of these Hyve restaking vaults, early contributors will start generating points immediately.

These vaults will exclusively take wstETH deposits, the first and only collateral asset in HyveDA’s Committee-X. By choosing @LidoFinance’s wstETH, HyveDA will be able to inherit Ethereum’s underlying security, and validator set, all being possible thanks to Symbiotic’s restaking framework.

Once the pre-deposit phase is completed, restakers in the HyveDA Committee-X Vault will have the option to create their own vault(s), or join other vaults created by Hyve, Mellow, or other external parties, provided they are connected to the HyveDA protocol.

Note: Funds will remain in the pre-deposit vault only during the pre-deposit phase. After this phase, assets must be manually migrated to Mainnet vault(s), where all essential functions, such as slashing and collateral delegation (to operators), will be fully implemented.

Slashing

Hyve is currently developing its slashing mechanism for Symbiotic. During the pre-deposit phase, however, slashing will not be live and therefore restakers do not bear any slashing risk. Once slashing configurations are fully completed, there will be auditing, testing, and time for restakers & operators to review the implementation before it is pushed live to Mainnet. More details on HyveDA slashing coming soon.

Looking Ahead

Looking ahead, we plan to build alongside Symbiotic while reaching continued expansion, new chains and assets, and an ever-growing TVL aligns perfectly with Hyve’s mission. By integrating Symbiotic’s innovative approach to security with Hyve’s unique and high-performant data availability solution, both platforms can foster deeper collaboration and broaden access to blockchain technology.

Symbiosis within Symbiotic

There are many beautiful things about building in Symbiotic: its shared security framework, its collateral flexibility, its builder-first approach, and more. However, the composability within its ecosystem might be the biggest one of them all, allowing secure networks to strengthen one another. If you're building a high-TPS and/or data-intensive product, read about how you can enhance your product by leveraging HyveDA’s high-performant DA and join Symbiotic’s collaborative ecosystem.

Together, removing the roadblocks to innovation, we will drive user adoption, bolster market confidence and ultimately propel the blockchain into a future marked by resilience, transparency, accessibility and adoption.

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/.

F.A.Q.

What will be the tokens accepted?
wstETH is the first and only token accepted as collateral during the Pre-Deposits phase.

What will be the qualifying Hyve vaults?
Mellow, EtherFi, MEV Capital, Re7, Steakhouse, P2P.

How can I pre-deposit into qualifying vaults?
Committee-X Vault: https://app.mellow.finance/vaults/ethereum-hyvex

Will funds be used for testing the network?
No, the vaults will not actively delegate stakes to operators.

How will early contributors be rewarded?
Hyve Points.