Hivello

Hivello launched in 2025 as one of the largest DePIN aggregation platforms in the space, scaling to over 50,000 active nodes across 11 decentralized infrastructure networks before announcing a strategic pivot in late 2025 toward fractional Bitcoin mining and GPU compute real-world assets — with its Solana-native HVLO token continuing as the ecosystem's utility layer.

What Hivello Built

The original Hivello product solved a fragmentation problem at the heart of the DePIN sector. By 2025 there were hundreds of active decentralized physical infrastructure networks — each requiring its own software, wallet, and configuration — with no unified interface for everyday users to participate across multiple protocols simultaneously. Hivello's answer was a desktop application for Windows, macOS, and Linux that automatically allocated a user's idle CPU cycles, GPU compute, bandwidth, and storage to whichever participating DePIN networks matched their hardware profile and location, distributing earnings in HVLO.

The platform operated on a "Download-to-Earn" model: no blockchain experience required, no manual node configuration, no need for an existing crypto wallet. Supported DePIN integrations at its peak included Mysterium Network (decentralized VPN bandwidth), PKT (decentralized media infrastructure), and IoTeX (dual-mining), with a broader roadmap targeting 100 protocol integrations. A tiered membership structure let users lock HVLO to increase their share of mining payouts, from a 50% base rate at Tier 0 up to 90% at higher tiers.

At its height, Hivello reported more than 98,000 registered users and over 50,000 active nodes across its integrated network fleet.

HVLO Token

HVLO is a Solana-native utility token with a total supply of 10 billion. It launched on February 11, 2025, listing simultaneously on Gate.io, MEXC, LBank, XT.com, HTX, and Raydium, Solana's primary DEX. Public token sales were conducted through DAO Maker, EclipseFi, and HyperGPT launchpads.

Token allocation: ecosystem incentives (25.3%), liquidity and exchange listings (20%), team and advisors (15% with a 9-month cliff and 24-month linear vesting), reserve fund (10%), and marketing and community (10%). A separate 2.5 billion HVLO pool was designated for a four-year community airdrop program. In March 2025, Hivello distributed the first airdrop to 32,000 user wallets directly through in-app Solana wallet integration, eliminating the need for users to hold an external crypto wallet.

The token's initial market cap was approximately $2.1 million against a fully diluted valuation of $45 million. As of mid-2026, HVLO trades significantly below its post-TGE peak, reflecting broader DePIN sector underperformance throughout 2025 and the platform's strategic transition.

Security and Audits

Hivello's Solana smart contracts were audited by QuillAudits in October 2024. The audit identified one critical finding — a token decimal handling bug in the close_vault function that could cause incorrect reward calculations — which was resolved with additional validation checks before launch. Medium and low severity issues related to transfer validation and event emission transparency were also addressed.

In December 2025, Hivello partnered with Naoris Protocol to add quantum-resistant security infrastructure: a mesh-based validator network using Naoris's Decentralized Proof of Security (dPoSec) framework, positioning the platform as the first DePIN earning platform with post-quantum security architecture.

Team and Investors

Hivello was co-founded by Domenic Carosa (Chairman) and Andrew Smith (CEO), both previously co-founders of Banxa, a fiat-to-crypto payment infrastructure provider that processed more than $3 billion in transactions and listed on the Toronto Stock Exchange. Simon Crean serves as CTO and CPO, with Justin Rosenberg as CFO. Hivello is a portfolio company of Blockmate Ventures (TSX-V: MATE), a publicly traded blockchain venture builder.

Funding includes a $2.5 million private round closed at Consensus 2024 at a $9 million pre-money valuation, with investors including Blockchange Ventures, MH Ventures, and Blockchain Founders Fund. In February 2025, immediately ahead of the token launch, Animoca Brands led a strategic investment round at a $45 million FDV, with co-investors Taisu Ventures, NGC Ventures, and Contango. Yat Siu, Animoca Brands co-founder, publicly cited Hivello's accessibility focus as the rationale for the investment.

The Pivot

In its end-of-2025 reporting, Hivello disclosed that while the node platform functioned technically, the underlying DePIN token economics had deteriorated sharply — with most integrated DePIN tokens down over 90% during 2025. Reward income became increasingly dependent on third-party token price performance rather than predictable infrastructure unit economics.

Hivello shut down its DePIN node application on January 30, 2026. The dashboard was discontinued by the end of February 2026, with all HVLO holdings — including tokens locked in the platform's 88% APY staking contract — made withdrawable in full. Restaking remained available at staking.hivello.com after the dashboard closure.

The company's stated new direction: fractional Bitcoin mining as real-world assets. Users purchase exposure to a fraction of a physical ASIC miner and receive monthly payouts delivered directly to a non-custodial wallet, tied to actual Bitcoin mining output rather than DePIN token issuance. The product targets the Q2 2026 timeframe. GPU and AI compute RWA products — offering fractional exposure to hashrate infrastructure for AI training and rendering workloads — are scheduled for later in 2026.

Management framed the pivot as a move from subsidy-driven DePIN economics toward "ROI-first, real-world asset based infrastructure," citing Bitcoin mining's mature demand profile and transparent yield mechanics as better suited for the passive income use case Hivello was originally built to serve.

Solana Ecosystem Fit

HVLO is issued on Solana and listed on Raydium, Solana's native AMM. The in-app wallet integration deployed in March 2025 was built on Solana infrastructure, enabling Hivello to onboard tens of thousands of users into Solana-native wallet custody without any prior blockchain experience required. The project's pivot toward real-world asset tokenization — Bitcoin mining and GPU compute — positions it alongside a growing segment of Solana-based RWA protocols, though the specific on-chain architecture for the new products had not been publicly detailed as of mid-2026.

The HVLO token's continued exchange listings and staking infrastructure signal that the project intends to carry its existing token community into the new product direction rather than relaunching from scratch.