# Why Ketju rejected PinkSale

- URL: https://riadefi.com/rejections/pinksale/
- Exposure: other
- Memo version: v1
- Reviewed: 2026-08-19
- Next review: 2026-11-19

## The memo

REJECTED. PinkSale is a permissionless token launchpad and locker, not a diversified investment or yield protocol. A client entering a sale underwrites the issuer, token code, allocation, listing, market making, liquidity-lock terms, and possible KYC/audit provider—none of which PinkSale standardizes into a security judgment. Reported launchpad TVL is capital temporarily committed across unrelated issuers, so it cannot support a venue-level allocation.

## What would reopen the file

- A specific PinkSale-issued asset enters the research perimeter and receives its own issuer, eligibility, control, and liquidity file
- The exact campaign publishes verified legal entity, offering terms, beneficial owners, audited code, treasury controls, allocation, and enforceable redemption rights
- A proposed-size secondary exit is demonstrated after all issuer and team unlocks are modeled

---

Published by Ketju Research (https://ketjuresearch.com). Educational analysis only; not legal, tax, compliance, or investment advice.
Machine-readable index: https://riadefi.com/llms.txt · Content API: https://riadefi.com/content.json