Hyve, a middleware data availability protocol secured by Symbiotic, has raised $50 million in pre-deposits for its novel data availability solution, HyveDA. The funding drive started strong, with $25 million locked in within the initial hours, but slowed down due to external events. Despite high demand, the drive was capped at $50 million to ensure a controlled onboarding process. Early contributors will have the opportunity to engage with the protocol without risking their assets. The pre-deposits will help HyveDA become the first 1GB/s data availability solution and a leading network within the Symbiotic ecosystem. HyveDA outlined its roadmap for development and emphasized the core principle of permissionless participation through the Data Availability Committees.



Other News from Today