Hyve Launches DA Protocol With Sub-Second Latency

Hyve, the first secured network on Symbiotic’s ecosystem, kicks off with a $1.85 million preseed round to build the most efficient Data Availability (DA) protocol with sub-second latency and 1 GB/s throughput. A number of heavy-hitting VC teams backed the protocol in its fundraising efforts.

Hyve DA layer kicks off, Lemniscap led preseed funding

Hyve, a cutting-edge data availability solution, goes live stealthily, the team's statement says. The protocol also disclosed the details of its recent preseed funding round. Major VC firm Lemniscap led the funding for the new-gen data availability solution.

The round also yielded contributions from Paper Ventures, Frachtis, P-OPS Team and other leading crypto-centric VCs. The aggregated amount of funds raised totals $1.85 million in equivalent.

Hyve has been working on its signature solution, HyveDA, stealthily for over a year. It is the only fully permissionless, high throughput data availability solution on the market today with sub-second latency. Additionally, it is designed to scale horizontally, increasing Hyve’s throughput as more nodes are onboarded. 

Douwe Fassen, CEO of Hyve, is sure that the product his company is building is miles ahead of the competition when it comes to data availability and cost-efficiency:

Across the Web3 landscape, current infrastructure has struggled to keep up with the growing complexity and data demands of modern applications. As we move towards an increasingly decentralized future, the need for robust, scalable, and secure infrastructure has never been more pronounced. With a groundbreaking throughput of 1GB/s (100x faster than our competitors), we are empowering developers to innovate at pace, with high-throughput, no latency, scalability and flexibility.

Hyve will use the funding to expand its team and step up marketing efforts as it continues to nurture partnerships with L2, DePIN, DeFi and gaming platforms. 

Bringing novel data management solutions to LSTFi segment

Roderik van der Graaf, Founder and Managing Partner of Lemniscap, is excited by the vision of its new portfolio company:

In the rapidly evolving Web3 space, low-overhead and high-throughput data availability is crucial for ensuring the scalability, security, and efficiency of dApps and blockchain networks. Now out of stealth mode, Hyve is very well placed to broaden its partnership network while supporting developers and enterprises looking to build high-performance, decentralized applications.

The fresh funds will help Hyve accelerate its mission to address growing demand for secure, scalable and cost-effective data availability, which has intensified following the rapid and ongoing proliferation of decentralized application (dApps) and L2 solutions.

The protocol leverages the innovative architecture of restaking protocol Symbiotic, a collaboration that introduces an extensive range of flexible vaulting and collateral options for operators. By combining HyveDA's high-performance data availability solution with Symbiotic's modular staking, shared security and incentive alignment, HyveDA provides the raw performance and scalability needed to handle even the most data-intensive applications.