Interesting topic...Considering my recent antler questions...Do you use a keychain kit or retrofit something. Crafts Supplies or PSI?? Interesting debatable Question, HUH?
I make Antler Key Chains both from the tips and pieces too short for pen barrels. I try to leave as much bark on as practical. Then I buff them and coat with ren wax. These are a great sell at craft shows.
I did one and put a CA finish on it. I've been carring it for 8 or 9 months and the CA is chipping off and it looks pretty bad. They take a beating with the keys banging around. Next one I would just micro mesh and buff.