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tl;dr: chainline fucked, ok to change BB to fix it?
I'm fixing a BMX, the chainline is way off and the chain keeps dropping. Just eyeballing it the chainring is much further out than the rear cog. I took out the BB and measured it to 123mm. I was thinking that I'd get a 113mm Shimano UN26 to bring it closer.
Does this sound like a reasonable fix or should I do something else instead?