Ketju memos
Not approved
Each memo gives the reason Ketju does not approve the protocol, the review date, and the facts that would change the verdict. The advisor still chooses each client’s position and amount. Every current verdict is in the Ketju Register.
A Not approved verdict weighs the evidence on what the holder owns, who can change or freeze it, how holders could lose money, and whether a position can be sold. It is not a safety rating for every investor or a trade instruction. Not investment, legal, tax, or compliance advice.
By protocol
| Protocol | Type | Verdict | Reviewed |
|---|---|---|---|
| Aave v4 | Dollar lending | Not approved | |
| SparkLend | Dollar lending | Not approved | |
| Maple Finance | Dollar lending | Not approved | |
| ether.fi (weETH liquid restaking) | ETH staking | Not approved | |
| Binance Staked ETH (WBETH) | ETH staking | Not approved | |
| Kelp DAO (rsETH) | ETH staking | Not approved | |
| Renzo (ezETH liquid restaking) | ETH staking | Not approved | |
| Compound v3 (Comet) | Dollar lending | Not approved | |
| Kamino (Solana) | Dollar lending | Not approved | |
| Centrifuge (JAAA) | Tokenized real-world assets | Not approved | |
| Venus Protocol | Dollar lending | Not approved | |
| Fluid (Instadapp) | Dollar lending | Not approved | |
| Jito (jitoSOL) | Staking | Not approved | |
| Spark Savings (sUSDS) | Dollar lending | Not approved | |
| Usual (USD0 / USD0++) | Dollar lending | Not approved | |
| Lombard (LBTC) | Staking | Not approved | |
| Liquid Collective (LsETH) | ETH staking | Not approved | |
| Convex Finance | Liquidity pool | Not approved | |
| Dolomite | Dollar lending | Not approved | |
| USD.AI (sUSDai) | Trading-strategy yield | Not approved | |
| Concrete (Blueprint Finance) | Dollar lending | Not approved | |
| Jupiter Lend (Solana) | Dollar lending | Not approved | |
| mETH Protocol (Mantle) | ETH staking | Not approved | |
| Liquity v1 (LUSD) | Dollar lending | Not approved | |
| Euler v2 | Dollar lending | Not approved | |
| Marinade (mSOL) | Staking | Not approved | |
| Sanctum Infinity | Staking | Not approved | |
| Frax (frxUSD / sfrxUSD) | Dollar lending | Not approved | |
| Lista Lending | Dollar lending | Not approved | |
| Securitize Tokenised AAA CLO Fund | Tokenized real-world assets | Not approved | |
| Ethena (USDe) | Trading-strategy yield | Not approved | |
| Pendle (yield tokenisation) | Liquidity pool | Not approved | |
| StakeWise V3 | ETH staking | Not approved | |
| Benqi Staked AVAX (sAVAX) | Staking | Not approved | |
| Wrapped Bitcoin (WBTC) | Other | Not approved | |
| LayerZero V2 | Other | Not approved | |
| Hyperliquid Bridge | Other | Not approved | |
| Binance-Peg BTCB | Other | Not approved | |
| USDT0 | Other | Not approved | |
| JustCryptos | Other | Not approved | |
| Portal Bridge (Wormhole) | Other | Not approved | |
| Hyper Unit | Other | Not approved | |
| Function FBTC | Other | Not approved | |
| SolvBTC | Other | Not approved | |
| Lorenzo enzoBTC | Other | Not approved | |
| Lighter Bridge (zkLighter) | Other | Not approved | |
| Aster Bridge | Other | Not approved | |
| World Chain Bridge | Other | Not approved | |
| Robinhood Chain Bridge | Other | Not approved | |
| Linea Bridge | Other | Not approved | |
| xDAI Stake Bridge (Gnosis Chain) | Other | Not approved | |
| UniRouter | Other | Not approved | |
| Merlin's Seal (Merlin Chain) | Other | Not approved | |
| StarkGate (Starknet Bridge) | Other | Not approved | |
| zkSync Era Bridge | Other | Not approved | |
| Mantle Bridge | Other | Not approved | |
| Avalanche Bridge | Other | Not approved | |
| NexusBTC (NBTC) | Other | Not approved | |
| B² Buzz | Other | Not approved | |
| exSat Staking BTC | Other | Not approved | |
| Stacks sBTC | Other | Not approved | |
| FAssets (Flare Network) | Other | Not approved | |
| Ondo Global Markets (Ondo Stocks) | Tokenized real-world assets | Not approved | |
| xStocks (Backed Finance) | Tokenized real-world assets | Not approved | |
| M0 ($M / Wrapped M) | Other | Not approved | |
| OpenTrade | Tokenized real-world assets | Not approved | |
| Aave Horizon | Other | Not approved | |
| Figure Markets Democratized Prime | Other | Not approved | |
| DigiFT | Tokenized real-world assets | Not approved | |
| RealT Tokens | Other | Not approved | |
| R25 | Other | Not approved | |
| Mantle Index Four Fund (MI4) | Other | Not approved | |
| RAAC | Other | Not approved | |
| Frax USD (frxUSD) | Tokenized real-world assets | Not approved | |
| Valos | Other | Not approved | |
| Lofty | Other | Not approved | |
| SSV Network | Other | Not approved | |
| EigenCloud (EigenLayer) | ETH staking | Not approved | |
| Babylon Protocol | Staking | Not approved | |
| Sanctum Validator LSTs | Staking | Not approved | |
| Obol Network | Other | Not approved | |
| GTBTC (Gate Wrapped BTC) | Other | Not approved | |
| Marinade Native | Staking | Not approved | |
| Tonstakers (tsTON) | Staking | Not approved | |
| stHYPE (Valantis) | Staking | Not approved | |
| Grove | Other | Not approved | |
| Spark Liquidity Layer | Other | Not approved | |
| K3 Capital | Other | Not approved | |
| Hyperithm | Other | Not approved | |
| RockawayX | Other | Not approved | |
| Clearstar | Other | Not approved | |
| KPK (karpatkey) | Other | Not approved | |
| Aera V3 | Other | Not approved | |
| Telos Consilium | Other | Not approved | |
| Sky Vaults (Skybase International) | Other | Not approved | |
| USDD | Other | Not approved | |
| BounceBit CeDeFi Yield | Other | Not approved | |
| AFI Protocol | Other | Not approved | |
| Cooler Loans | Other | Not approved | |
| Buzz Farming | Other | Not approved | |
| BitFi Basis | Other | Not approved | |
| EtherFi Borrowing Market | Other | Not approved | |
| Yield Basis | Other | Not approved | |
| Exponent Yield Exchange | Other | Not approved | |
| Aster USDF | Other | Not approved | |
| Aster asBNB | Other | Not approved | |
| Homora V2 (Alpha Finance) | Other | Not approved | |
| Suilend | Other | Not approved | |
| Polymarket International | Other | Not approved | |
| Hyperliquid HLP | Other | Not approved | |
| Polygon Bridge | Other | Not approved | |
| Tornado Cash | Other | Not approved | |
| tBTC | Other | Not approved | |
| Bedrock uniBTC | Staking | Not approved | |
| Lightning Network | Other | Not approved | |
| Fraxtal | Other | Not approved | |
| PinkSale | Other | Not approved | |
| Hyperliquid Spot Orderbook | Other | Not approved | |
| Noble | Other | Not approved | |
| UNCX Network V2 | Other | Not approved | |
| Dinari dShares | Tokenized real-world assets | Not approved | |
| Tradable private-credit deal tokens | Tokenized real-world assets | Not approved | |
| Blockchain Capital (BCAP) | Tokenized real-world assets | Not approved | |
| Kinesis gold and silver (KAU, KAG) | Tokenized commodities | Not approved | |
| Streamex GLDY | Tokenized commodities | Not approved | |
| DGLD (Gold Token SA) | Tokenized commodities | Not approved | |
| Spiko Digital Assets Cash and Carry Fund (SPKCC, eurSPKCC) | Tokenized real-world assets | Not approved | |
| rTokens (Reality, Bitget group) | Tokenized real-world assets | Not approved | |
| Republic pre-IPO notes (Bitget IPO Prime) | Tokenized real-world assets | Not approved | |
| PreStocks (pre-IPO tokens on Solana) | Tokenized real-world assets | Not approved | |
| Matrixdock gold and silver (XAUm, XAGm) | Tokenized commodities | Not approved | |
| Tether Gold (XAUT) | Tokenized commodities | Not approved | |
| Paxos Gold (PAXG) | Tokenized commodities | Not approved | |
| Pleasing Gold (PGOLD) | Tokenized commodities | Not approved | |
| Spiko SICAV (USTBL, EUTBL, UKTBL, SAFO) | Tokenized real-world assets | Not approved | |
| Apollo Diversified Credit Securitize Fund (ACRED) | Tokenized real-world assets | Not approved | |
| bStocks (BTech Holdings, Binance group) | Tokenized real-world assets | Not approved | |
| Robinhood Stock Tokens | Tokenized real-world assets | Not approved | |
| bTokens (Backed Finance, winding down) | Tokenized real-world assets | Not approved | |
| Coinbase Tokenized Stock (Coinbase Onchain SPV, Base) | Tokenized real-world assets | Not approved | |
| Draggable Aktionariat AG Shares (DAKS) | Tokenized real-world assets | Not approved | |
| Backpack Securities stock tokens (Trek Nexus Markets, Solana) | Tokenized real-world assets | Not approved | |
| OnRe Tokenized Reinsurance (ONyc) | Tokenized real-world assets | Not approved | |
| Theo Short Duration US Treasury Fund (thBILL) | Tokenized real-world assets | Not approved | |
| Anemoy Tokenized Apollo Diversified Credit Fund (ACRDX) | Tokenized real-world assets | Not approved | |
| deJAAA (Open Market Factory notes linked to JAAA) | Tokenized real-world assets | Not approved | |
| Neuberger Securitize High Income Tokenized Fund (HINC) | Tokenized real-world assets | Not approved | |
| Obligate Trade Finance Yield (oTFY) | Tokenized real-world assets | Not approved | |
| xU3O8 uranium token (uranium.io) | Tokenized commodities | Not approved | |
| GoldZip gold token (XGZ) | Tokenized commodities | Not approved | |
| Dominion Silver (SILV) | Tokenized commodities | Not approved | |
| ST0x tokenized stocks (S01 Issuer GmbH) | Tokenized real-world assets | Not approved | |
| Anchored aStocks (Anchored Capital Ltd, BVI) | Tokenized real-world assets | Not approved | |
| Etherfuse Stablebonds (CETES, USTRY, TESOURO, KTB, GILTS, EUROB) | Tokenized real-world assets | Not approved | |
| Tessera T-Tokens (T-SpaceX, T-Kalshi, T-OpenAI) | Tokenized real-world assets | Not approved | |
| USDM1 (Republic of the Marshall Islands) | Tokenized real-world assets | Not approved | |
| Switzerlend AG C1 Shares SHA (LENDS) | Tokenized real-world assets | Not approved | |
| wemakeit AG shares (WMKT) | Tokenized real-world assets | Not approved | |
| RealUnit Shares (REALU) | Tokenized real-world assets | Not approved | |
| VNX Gold (VNXAU) | Tokenized commodities | Not approved | |
| Tenbin Gold (tGLD) | Tokenized commodities | Not approved | |
| SilverTimes Token (STT) | Tokenized commodities | Not approved | |
| Herculis Gold Coin (XAUH) | Tokenized commodities | Not approved | |
| Finest fGLD | Tokenized commodities | Not approved | |
| Token Teknoloji Gram Gold and Gram Silver (GRAMG, GRAMS) | Tokenized commodities | Not approved | |
| STRATO Gold and Silver (GOLDST, SILVST) | Tokenized commodities | Not approved | |
| Delta Wellington Ultra Short Treasury On-Chain Fund (ULTRA) | Tokenized real-world assets | Not approved | |
| Franklin OnChain Institutional Liquidity Fund (iBENJI) | Tokenized real-world assets | Not approved | |
| Hamilton Lane Securitize feeder funds (HLSCOPE, HLSF6, HLEOVUS) | Tokenized real-world assets | Not approved | |
| State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP) | Tokenized real-world assets | Not approved | |
| Coinbase USD Stablecoin Yield Fund (CUSHY) | Tokenized real-world assets | Not approved | |
| Ethena USDtb | Tokenized real-world assets | Not approved | |
| Bitwise Crypto Carry Fund (USCC) | Trading-strategy yield | Not approved | |
| Hamco Tokenized Pan-Asia Private Equity Fund | Tokenized real-world assets | Not approved | |
| WisdomTree 500 Digital ETF | Tokenized real-world assets | Not approved | |
| Nomyx Revenue Participation Bonds, Series 2026 (Bond Tokens) | Tokenized real-world assets | Not approved | |
| DeedFlow Royalty Revenue Bonds, Series 2026 | Tokenized real-world assets | Not approved | |
| ARK Venture Fund (ARKVX), tokenized by Securitize | Other | Not approved | |
| StackingDAO | Staking | Not approved | |
| Elara Finance | Liquidity pool | Not approved | |
| Motoswap Farm | Liquidity pool | Not approved | |
| Reflect Tranches | Trading-strategy yield | Not approved |
Unlinked rows have memos too short to publish as a page here. Every protocol’s current verdict is in the Ketju Register.