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  • Not according to sheldon:

    [

    Factory Lube
    New chains come pre-lubricated with a grease-type lubricant which has been installed at the factory. This is an excellent lubricant, and has been made to permeate all of the internal interstices in the chain.
    This factory lube is superior to any lube that you can apply after the fact.

    Some people make the bad mistake of deliberately removing this superior lubricant. Don't do this!
    ](http://sheldonbrown.com/chains.html#factory)

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