RIADeFi
Refusal file · other

Why Ketju rejected UNCX Network V2

Memo v1Published by Ketju Research

A registry memo, published verbatim and versioned. Superseded versions are recorded, never edited away. A rejection is a judgment for Ketju's client base and thesis, not a universal safety claim. Not investment, legal, tax, or compliance advice.

The memo

REJECTED. UNCX V2 is a token and LP-locking service whose reported $110.2M belongs to many unrelated project owners and unlock schedules. A lock can prevent one specific LP token or token balance from moving before a date; it does not give an advisor a pro-rata claim, guarantee the underlying token, prevent minting or taxes, ensure 100% of liquidity is locked, or preserve a market after unlock. The service is useful evidence about an issuer, not an investable venue.

What would reopen the file

  • A specific locked asset enters the research perimeter and receives its own issuer, token-control, legal, and liquidity review
  • The client is the named beneficiary of a lock whose contract, amount, unlock, collection rights, and migration powers are independently verified
  • Any locker exploit, unauthorized migration, premature withdrawal, or permanent lock failure opens an immediate review

Facts on file

Verdict
Rejected
Exposure
other
Chains examined
Ethereum, BSC, Base, Polygon, Arbitrum, Avalanche, Gnosis, OP Mainnet
Memo version
v1
Reviewed
Next review

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