Hey everyone, I got a question.

I just purchased a 2005 Sportsman 700 EFI, and I am changing all the fluids on it.
Well I drained the transmission oil, and noticed that the drain plug is all shiny as if something’s been rubbing it. So I looked up the hole and then poked my finger up, and there is a chain that is very loose and is obviously the cause of my shiny drain plug.
What is this chain for?
Is it supposed to be loose?

I’d love to hear from anyone who has some thoughts!

Carson