Node Operator Admission: HashKey Cloud as stVault Professional Operator

Node Operators stVaults Identification
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Introduction

We are HashKey Cloud, the global Web3 infrastructure arm of HashKey Group — a licensed, compliant, and institutional-grade digital asset financial services group headquartered in Asia.
Website: https://www.hashkey.cloud/
Group: https://group.hashkey.com/

As a long-standing professional node operator supporting Ethereum since its early phases, we hereby request:

  • Identification under the stVaults program, and
  • Evaluation for the Professional category within the Lido V3 stVaults framework.

Our goal is to contribute high-quality staking operations, institutional-grade infrastructure, and long-term ecosystem alignment to Lido V3 and the Ethereum staking landscape.

Business Case

ETH Sourcing Potential

HashKey Cloud leverages:

  • The broader HashKey Group ecosystem, including fully licensed digital asset businesses in Hong Kong and Singapore.
  • Institutional and ETF-related staking demand from regulated custodians, fund managers, wealth platforms, and corporates.
  • Our new product line ETF Staking Pro, designed specifically for ETH ETF issuers, which is expected to bring sustained inflows in 2025 and beyond.

We expect consistent ETH sourcing from institutional clients with predictable allocation cycles, and we are prepared to scale responsibly according to Lido Committee guidance.

User Segments & Channels

  • Licensed exchanges & brokers
  • ETF issuers and asset managers
  • High-net-worth custody clients
  • Large Web3 treasury managers
  • Enterprise infrastructure clients
  • L2 ecosystem partners

Channels include regulated custody infrastructure, ETF issuer integrations, institutional onboarding pipelines, and global staking product distribution.

Timelines

We can onboard under the stVaults framework immediately upon approval, with a conservative ramp-up aligned to Lido’s Validator Set Management and Reserve Ratio guidelines.

Fee Policy

We follow:

  • Transparent, market-aligned institutional fee models
  • No hidden MEV extraction
  • Compliance with Lido’s MEV guidelines (PBS adoption, non-censoring policies)
  • Clear separation of client fees vs. protocol fees

We remain flexible to adjust fee structures based on Committee recommendations.

Operations & Decentralization Overview

Client & Software Diversity

HashKey Cloud runs a multi-client, multi-version strategy including:

  • Prysm
  • Lighthouse
  • Teku

Execution clients include:

  • Geth
  • Nethermind
  • Besu

We maintain strict client diversity, emergency fallback procedures, and rolling upgrade policies.

Infrastructure Footprint

  • Globally distributed data centers (Asia, EU, North America)
  • Multi-region cloud + bare-metal hybrid architecture
  • Dedicated validator clusters with hardware security modules (HSMs)
  • ISO-certified operational security management
  • Fully redundant networking and power infrastructure
  • Internal monitoring stack with 24/7 NOC and automated incident response

Jurisdictional Diversity

HashKey Group entities operate under multiple compliant jurisdictions, including:

  • Hong Kong (SFC-licensed)
  • Singapore (MAS engagement)
  • Japan partnership networks
  • Europe infrastructure deployments

This ensures regulatory resilience and reduces correlated jurisdictional exposure.

MEV Posture

  • Full adoption of PBS / MEV-Boost with reputable relays
  • Non-censoring policy (OFAC-neutral) compliant with Ethereum values
  • Strict monitoring for reorg risks and proposer-slashing avoidance
  • Internal MEV policy framework aligned with Lido’s Operator Requirements

Supporting Links

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Thanks for applying, it’s great to see you moving forward with onboarding as a stVaults Node Operator.

The stVaults Committee has started the assessment process, and we’ll keep you updated as things progress.

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As a delegate of the stVaults Committee, I am posting to confirm that the relevant ET motions establishing HashKey Cloud’s status as an stVaults Identified Node Operator have now been enacted.

Following the committee’s assessment of HashKey Cloud’s application, HashKey Cloud’s has been assigned to the Basic Identified Operator Category under the stVaults framework, in line with the scope of its application.

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Thank you for the confirmation and for the committee’s assessment.
We appreciate the stVaults Committee’s review and oversight, and look forward to contributing responsibly within the stVaults framework.

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