The Good Tech Companies - HyveDA Secures $50 Million in Pre-Deposits After Symbiotic Mainnet Launch

Episode Date: February 14, 2025

This story was originally published on HackerNoon at: https://hackernoon.com/hyveda-secures-$50-million-in-pre-deposits-after-symbiotic-mainnet-launch. HyveDA reached a deposit cap of $50M in pre-deposits during the Symbiotic mainnet launch amid market changes from tariff policy adjustments. Check more stories related to tech-stories at: https://hackernoon.com/c/tech-stories. You can also check exclusive content about #hyveda, #hyveda-news, #hyveda-announcement, #blockchain, #dlt, #cryptocurrency, #web3, #good-company, and more. This story was written by: @ishanpandey. Learn more about this writer by checking @ishanpandey's about page, and for more stories, please visit hackernoon.com. The deposit phase began with the launch of the Symbiotic mainnet on January 28 and completed within two weeks. The deposits occurred during a market decline triggered by President Trump’s tariff policy. Early contributors deposited assets into a native vault and several partner vaults.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Hive DA secures $50 million in pre-deposits after Symbiotic Mainnet launch. By Ashan Pandey, Hive DA reached a supply cap of $50 million in pre-deposits from early contributors. The deposit phase began with the launch of the Symbiotic Mainnet on January 28 and completed within two weeks. The deposits occurred during a market decline triggered by President Trump's tariff policy. Contributors participated through two vault types. One vault is managed by Hive DA and additional vaults are provided by partners including EtherFI, Renzo, MEV Capital, Re7, Stakehouse, Goutlet, and P2P.

Investors deposited assets into the vaults to become eligible for points that will be assigned after the deposit phase and carried forward to later phases. The deposited funds are not subject to penalties or risks from operations. The deposit process is structured to maintain a controlled onboarding process while allowing the protocol to expand. Hive DA operates a network that uses a delegated staking system through symbiotics restaking process. The network depends on the participation of nodes to maintain data availability. The deposit phase may affect the protocol's progress. A group of participants engaged in the process during a period of market

instability. The method for assigning points after the deposit phase may influence future participation in the ecosystem. Observers note that the outcome may serve as a reference for protocols that seek to raise funds during periods of market change. The experience of this deposit phase stands as a point of reference for protocols seeking similar funding processes. Future updates will determine how this approach influences the transition from the pre-testnet phase to subsequent network stages and the overall development of the protocol. Final thoughts. The pre-deposit event resulted in a funding limit of $50 million collected from early contributors. The process relied on a deposit mechanism with a defined cap

and used multiple vault options. Contributors deposited assets into a native vault and several partner vaults. The method permitted ASP read of contributions across many participants during a period when market conditions were affected by external policy changes. The deposit process provided an opportunity to test a funding method under conditions where market sentiment was shifting. Early participants engaged in the process despite the influence of external events. The use of a points system to reward participation introduces a variable for future involvement. This points system will be carried into subsequent phases and will affect how contributors interact with the network as it develops.

The event also offered an example of a funding process that limits resource collection through a preset cap. The method used may serve as a reference for other protocols that plan to gather funds in similar market environments. The choice to spread contributions across several vaults instead of a single source appears to reduce the concentration of deposits. This approach may have an effect on how risk is distributed among network participants. Don't forget to like and share the story. Tip Vested Interest Disclosure This author is an independent contributor publishing via our business blogging program. Hacker Noon has reviewed the report for quality, but the claims herein belong to the author.

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