The memo
REJECTED ON UNRESOLVED DISCLOSURE GAPS. Despite the name, UniRouter is unrelated to Uniswap: it is a Bitcoin liquid-staking platform built on B² Network, a Bitcoin Layer 2, issuing uBTC/stBTC against BTC staked through Babylon's Bitcoin staking protocol. No audit of any kind was found for UniRouter's contracts, no minting-authority or signer disclosure exists for the MuSig2-aggregated custody wallet, and the protocol's own architecture documentation does not describe unstaking or redemption mechanics at all. Absence of a reported incident is weak evidence given how thin the public documentation is.
What would reopen the file
- UniRouter publishes an independent, named third-party security audit covering the staking-vault and minting contracts
- MuSig2 signer or validator set composition and threshold are publicly disclosed and independently verifiable
- Redemption and unstaking mechanics, including timing and any Babylon-unbonding-period pass-through, are documented and demonstrated at proposed size
- Twelve consecutive months with no depeg, slashing-related loss, or custody incident following the above disclosures
Facts on file
- Verdict
- Rejected
- Exposure
- other
- Chains examined
- Ethereum
- Memo version
- v1
- Reviewed
- Next review