Hyve, a Symbiotic-secured high-throughput middleware data availability protocol, is excited to announce a strategic partnership with Lido, the industry-leading liquid staking protocol for Ethereum, to create X Committee, HyveDA’s next permissionless, Ethereum-aligned DAC.
Through the staked ETH underpinning validators, HyveDA will be able to expand Ethereum’s security by listing Lido’s wstETH as the first collateral accessible on the X Committee. The 1GB/s data availability solution from HyveDA will now be secured by wstETH, which accounts for over 65% of Symbiotic’s $2.1 billion TVL. This partnership highlights HyveDA’s commitment to use the most liquid, safe, and widely available assets to ensure its next Data Availability solution.
A significant step toward HyveDA reaching 1GB/s throughput while preserving its permissionless and censorship-resistant architecture is the introduction of the X Committee. It will enable HyveDA to be secured by Ethereum liquid restaking tokens (LRTs).
Douwe Fassen, Founder and CEO of Hyve DA, said:
“Collaborating with Lido to enable wstETH as the first restaking collateral in HyveDA will help us extend Ethereum’s underlying security while drastically enhancing throughput and conserving a permissionless nature. The new era of data availability solutions is here.”
HyveDA makes use of the cutting-edge Symbiotic restaking protocol architecture, which offers operators a wide variety of adaptable vaulting and collateral choices. HyveDA offers the sheer speed and scalability required to manage even the most data-intensive applications by fusing its high-performance data availability solution with Symbiotic’s modular staking, shared security, and incentive alignment.
Jakov Buratović, Master of DeFi at Lido, commented:
“wstETH has already proved that it is the best collateral on lending markets. Expanding the use case towards securing other pieces of infrastructure like HyveDA was the most logical next step!”
HyveDA may be used by any decentralized protocol to improve user experience and performance, as well as to investigate use cases that were previously unattainable. The high-throughput data availability layer from HyveDA is designed especially for data-intensive applications like blockchain games, Layer 2s, DePIN, artificial intelligence, and orderbook DEXs.
Its TVL has increased by 600K ETH after Lido’s “Lido Alliance” for Symbiotic restaking assets was revealed. This, together with Symbiotic’s growing market dominance in restaking and HyveDA’s impending 1GB/s solution, may provide the ideal trifecta for integrators and stakeholders: unrivaled scalability for integrators and safe and proper incentives for stakers.
Permissionless participation via Permissionless Data Availability Committees (DACs) is a fundamental tenet of HyveDA. Moreover, HyveDA uses a permissionless DAC in contrast to standard DACs, which often depend on centralized batch proposers and permissioned networks, to guarantee that everybody may contribute to maintaining data availability.
The main feature of permissionless DACs is that nodes may participate without reaching a consensus, which greatly simplifies scaling and enables much larger data throughputs at significantly reduced costs.
Hyve is a state-of-the-art data availability solution that prioritizes cost-effective, high-throughput, and low-latency DA. HyveDA serves as practical evidence of Hyve’s dedication to and capacity to address DA scalability concerns, opening the door for the next generation of blockchain ecosystems and applications. Applications with extraordinarily high data demands, including DePIN, AI apps and rollups, parallel execution environments, and L2s, are especially catered for by HyveDA.
