Bitwise Consolidates Legacy Validators Under Lido's CMv2 Rollout
Bitwise has made history by carrying out the first validator consolidation on Lido Core as part of its new Curated Module v2 (CMv2) rollout. This milestone marks a significant upgrade to Ethereum's staking layer since the Merge.
The consolidation aims to restructure approximately 8.4 million staked ETH, worth around $16.5B at the time of announcement, from legacy validators into a more efficient architecture.
Under CMv2, Lido is taking advantage of Ethereum's Pectra hard fork, which introduced a new validator type (0x02) that can handle up to 2,048 ETH in effective balance, 64 times the previous limit per validator. This allows for a significant reduction in validator count and attestation messages.
Bitwise facilitated the first consolidation under CMv2 and now operates as one of the module's node operators. The new module covers 34 curated operators, all of which face ETH bonding requirements for the first time.