HyveDA partners with Lido to offer scalable DA, adds wstETH as collateral

Hyve, a data availability protocol secured by permissionless shared security platform Symbiotic, announced that it is collaborating with Lido to offer wrapped stETH as initial collateral.

Hyve said in a press release shared with crypto.news on Nov. 21 that the partnership with Lido allows its high-throughput middleware DA protocol to add stETH (wstETH) wrapped as collateral.

According to the announcement, Lido’s wstETH is going live on HyveDA through the X Committee, an Ethereum (ETH) compatible Data Availability Committee launched in partnership with Lido Finance. Lido, in particular, is Ethereum’s largest liquid staking protocol and currently has a total value of over $32.5 billion.

Hyve launched its data availability protocol in October 2024 and came out of privacy about a year later.

Collaborating with Lido to add wstETH as collateral is a significant development for HyveDA. Among other factors, it allows HyveDA to further increase the security of Ethereum through base validators of Lido staked ETH (stETH).

“Collaborating with Lido to enable WstETH as the first repurchase collateral on HyveDA will help us expand the underlying security of Ethereum, while also greatly increasing throughput and preserving the permissionless nature. A new era has arrived in data availability solutions.”

Douwe Fassen, founder and chief executive officer of Hyve DA

This move allows Hyve to leverage one of the ecosystem’s most liquid and widely used assets to secure its data availability solution. Currently, wstETH accounts for 65% of Symbiotic’s $2.1 billion total locked value.

HyveDA’s data availability services have a throughput of over 1 gigabyte per second. The protocol combines the security and decentralization of Ethereum with the modular staking and shared security features of Symbiotic.

This solution aims to improve performance and user experience for decentralized protocols, including those supporting layer-2 chains, decentralized infrastructure networks, artificial intelligence, and blockchain gaming.