Hyve, a Symbiotic-secured high-throughput middleware data availability protocol, is pleased to announce a strategic partnership with Lido, the leading liquid staking protocol for Ethereum, to create X Committee, HyveDA’s next permissionless, Ethereum-aligned DAC.
Through the ETH-backed validators, HyveDA will be able to extend Ethereum’s security by including Lido’s wstETH as the first collateral accessible through the X Committee. HyveDA’s 1GB/s data availability solution will now be secured by wstETH, which accounts for more than 65% of Symbiotic’s $2.1 billion TVL. This partnership highlights HyveDA’s commitment to using the most liquid, secure and widely available resources to ensure the next Data Availability solution.
An important step towards HyveDA achieving 1 GB/s throughput while maintaining its permissionless and censorship-resistant architecture is the introduction of the X Committee. It will allow HyveDA to be secured by Ethereum liquid restaking tokens (LRTs).
Douwe Fassen, founder and CEO of Hyve DA, said:
“By working with Lido to enable wstETH as the first withdrawable collateral in HyveDA, we can extend Ethereum’s underlying security while dramatically improving throughput and preserving its permissionless nature. The new era of data availability solutions has arrived.”
HyveDA uses the advanced Symbiotic recovery protocol architecture, which provides operators with a wide range of customizable storage and collateral choices. HyveDA offers the enormous speed and scalability needed to manage even the most things
“wstETH has already proven to be the best collateral in the credit markets. Expanding the use case to secure other parts of the infrastructure such as HyveDA was the most logical next step!”
HyveDA can be used by any decentralized protocol to improve user experience and performance, and to explore use cases that were previously infeasible. HyveDA’s high-throughput data availability layer is specially designed for data-intensive applications such as blockchain games, Layer 2s, DePIN, artificial intelligence and order book DEXs.
The TVL has been increased by 600,000 ETH after Lido’s “Lido Alliance” for asset repossession by Symbiotic was revealed. This, along with Symbiotic’s growing market dominance in retake and HyveDA’s upcoming 1GB/s solution, could deliver the ideal trifecta for integrators and stakeholders: unparalleled scalability for integrators and safe and proper incentives for stakers.
Permissionless participation via Permissionless Data Availability Committees (DACs) is a fundamental principle of HyveDA. Furthermore, HyveDA uses a permissionless DAC as opposed to standard DACs, which often rely on centralized batch proposals and permissioned networks, to ensure that everyone can contribute to maintaining data availability.
The key feature of permissionless DACs is that nodes can participate without reaching consensus, which greatly simplifies scaling and enables much greater data throughput at a significantly lower cost.
Hyve is a state-of-the-art data availability solution that prioritizes cost-effective DA with high throughput and low latency. HyveDA serves as practical proof of Hyve’s commitment to and ability to address DA scalability issues, opening the door for the next generation of blockchain ecosystems and applications. Applications with exceptionally high data requirements, including DePIN, AI apps and rollups, parallel execution environments and L2s, are specially catered for by HyveDA.