RIADeFi
Not approved · Other

Ketju memo: Polygon Bridge

Not approvedPublished by Ketju Research

This memo sets out what the holder owns, who controls it, how holders could lose money, and whether a position can be sold. The advisor decides any client action and amount. Not investment, legal, tax, or compliance advice.

Summary

Ketju does not approve Polygon Bridge: every bridged token depends on Polygon validator checkpoints and on bridge contracts that a Security Council can upgrade at once in an emergency. Ketju separately does not approve the Polygon chain, because that emergency upgrade gives users no enforceable window to withdraw before it takes effect. The bridge is core infrastructure and pays no portfolio yield. Its $2.57B accounting balance does not change who controls it.

Review triggers

  • Every regular and emergency bridge upgrade becomes subject to an enforceable on-chain delay of at least 7 days
  • A permissionless withdrawal proof stays usable during a validator or checkpoint failure and completes a test at the proposed size
  • Ketju changes its Polygon chain verdict to Approved or Approved with limits with no open review trigger on bridge control

Facts

Verdict
Not approved
Type
Other
Chains examined
Ethereum, Polygon
Reviewed
Last confirmed

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