that is a devinci Split pivot or a way to make a concentric suspension. ( i have one and have even pulled it a part to change the bearings) the BB goes through it and mounts on the frame itself, that's one part i never want to have to replaced... also that is for the 26'' wheeled bike from 2011- present. makes for a low slung bike at speeds and lowers brake jack etc. kudos to jugi and blackmamba for spotting it.