Bridgetower is now part of Solstice Staking

Node Operators
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Dear Lido Community,

We are thrilled to announce that Solstice Staking AG, a Swiss public limited company and Deus X Capital Enterprise company, has acquired Bridgetower Capital GmbH’s staking division, including its entire team and resources, without any material changes. All of the existing Bridgetower validators and associated delegated staking operations will remain fully operational through the transition, managed by the same team, and operating on the same on-premise infrastructure in Switzerland. The relationship between Deus X Capital and Bridgetower Capital has been a longstanding and collaborative one, built on a shared vision of fostering innovation and excellence in the digital asset space.

The Bridgetower team has been fully integrated into Solstice Staking with ownership of all day-to-day business matters, highlighting our commitment to ensuring seamless operations and maintaining the highest levels of quality and reliability for our partners and clients. Solstice Staking is further committed to enhancing security standards now with support from broader crypto-resources of Deus X and is actively working toward SOC 2 certification to further strengthen the security and reliability of its infrastructure.

This acquisition directly aligns with Solstice’s vision of driving innovation in blockchain and digital asset services while expanding our capabilities in staking and institutional-grade infrastructure. Together, we aim to continue delivering cutting-edge solutions to developers, institutional clients, and the broader blockchain community.

Solstice Staking will remain committed to the principles of decentralisation and security, striving for greater transparency and compliance across all our offerings. We would be delighted to address any questions you may have as we continue operations and invite you to connect with us directly.

Thank you for your continued trust and support as we embark on this exciting new chapter together.

Warm regards,
The Solstice Staking Team

For the official Press Release, visit: https://www.businesswire.com/news/home/20241210947007/en

About Solstice Labs
Solstice Labs is a Swiss-Based Deus X Enterprise company, offering institutional-grade DeFi products and services to the market. Solstice Labs is committed to connecting institutional liquidity and DeFi markets through a broad range of democratized solutions. For more information, visit https://solsticelabs.io/

About Deus X Capital
Deus X Capital is a specialist investment and operating company focused on private equity, venture capital and venture build opportunities in the capital markets, fintech and digital assets sectors. Deus X has more than $1bn in assets under management and its unique expertise, extensive network, and diverse capabilities to foster lasting value within the financial technology sector. For more information, visit https://deusx.capital/

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Grüezi @Marcus_Maute, welcome to the forum and you and the BridgeTower team congratulations on the acquisition.

Thanks for familiarizing with the process for such business situations, and for informing the Lido community in advance of their assessment on the continuation of the BridgeTower operation in the Curated Module (CM) about the relationship between Deus X Capital and Bridgetower Capital, as well as your vision and plans with Solstice Staking.

As contributors to the Node Operator Mechanisms (NOM) workstream dig into the details and ask the Lido Node Operator Sub-governance Group (LNOSG) to provide a similar recommendation, could you please let the community know whether it would be required for you to change your Node Operator (NO) registry address? In the same thread, please also let people know, if the name of your NO as it is registered in the CM registry should change.

Due to the similarity of the acquisition to recent cases (NO CryptoManufaktur is now part of Galaxy, Attestant Joins Bitwise) and as per the rough rubric developed previously for assessing such transitions, personally I do not see any reason to pause the BridgeTower NO or for the community to request any validators for exit and it can make sense to proceed optimistically, but if anyone in the community disagrees, it would be prudent to have a discussion ASAP.

With regard to further steps, due to the upcoming holidays, it must be noted that a vote on the continuation of operations can be expected in the second half of January 2025 at the earliest.

Congratulations again on this exciting finale to the year!

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Grüzi Jan (@sssngth), thank you so much! Regarding your two questions:

  1. No, the registry address does NOT need to be changed.
  2. Yes, changing the name would be good if possible.

Thank you, and I’m very much looking forward to continuing to work closely with you!

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Good evening and thanks for your reply.

I suggest that you post a request for the desired name change in the aforementioned “Node Operator Registry - Name & Reward address change” thread, so that the DAO Ops workstream is also informed and can already prepare a proposal in parallel to the work of NOM and the LNOSG.

Too looking forward to the collaboration and wishing you and the team happy holidays :santa:

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Hi Marcus, could you please confirm the specific name change you are requesting?

Please use the dedicated thread: Node Operator Registry - Name & Reward address change - #40 by nikita.p

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Submitted by the NOM contributor workstream on behalf of the Lido Node Operator Sub-Governance Group (LNOSG):

The Lido Node Operator Sub-Governance Group (LNOSG) has reviewed recent business changes affecting the Node Operator (NO) Bridgetower. This proposal outlines the results of the LNOSG discussion and asks voters to consider the matter.

Background and Context

Bridgetower was recently acquired by Solstice. According to Bridgetower, with respect to their data in the Curated Module operator registry, the registry address of their Operator (#17) is to remain unchanged, and a name change has been requested to “Solstice”.

The following proposal outlines the LNOSG’s thoughts after considering the information provided by Bridgetower on the forum.

Conclusion

The LNOSG has reviewed the provided information related to the transition and found no reason to propose ceasing the operator’s participation in Lido on Ethereum Curated set.

Proposal

Allow Solstice to continue Node Operations in Lido on Ethereum as-is.

Next Steps
This proposal is now open for community feedback for a week. If no major objections are raised within this timeframe, the LNOSG suggests moving forward with a vote to ratify.

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@Sven & @sssngth Thank you for this helpful information!! It is super important for delegate representatives to come to informed decisions.

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Snapshot vote started

We’re starting the Should Solstice continue in the Curated set following the acquisition of Bridgetower? Snapshot, active till Thu, 30 Jan 2025 16:00:00 GMT. Please don’t forget to cast your vote!

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The Should Solstice continue in the Curated set following the acquisition of Bridgetower? Snapshot has reached a quorum and completed!
The results are:
For: 51.8M LDO
Against: 86.74 LDO