It looks like you spaced the sprocket out with floating bolts. Are they bent at all? It's better to use spacers of some sort that can take the torsional forces. Those bolts alone can't handle much side load with that gap. Pretty sure
@bike4life can give us the maths on deflection for that grade bolt with that distance unsupported.
You need something called a tophat adapter. Make sure you get the right width. Lets you install a disk brake too.
LOL @CrazyDan . Thanks for the shoutout... when math (duty) calls, I will answer...
The man needs spacers.
Right off the bat we know he is doing m5, and because the max strength / clamping load of a bolt is proportinal to area, as psi = force / area. I am gonna convert m5 to inches, = 0.2. A 0.25in bolt is 0.25, so I need to take the grade 2, I am assuming its your bolt being grade 2 i wouldnt know, so 0.25^2 = 0.625. 0.2^2 = 0.4 and 0.4 / 0.625 is roughly 2/3 so I take 2/3 * the proof load and we do 0.66 x 1750 = 1155 pounds. So each of your bolts has a maximum clamp load of 1155 pounds basically in pure clamping force before the threads get stripped out and/or the bolt splits in half and then there is 0 clamping force... The bolt splitting in half would be 2350 pounds * 2/3 = 1500 pounds as you would take the tensile stress number. So basically your bolts will be fine as long as you more or less use spacers. currently, the
limiting factor here is NOT the tensile / clamping force of a bolt which is very very very high and is fine, as thats what bolts are designed for... ITS the fact that since there is no spacer, you are running a deflection load on the bolts, and not a tension / clamping force load... When you add the spacers, it will turn that deflection load into a clamping load which is what bolts are good at, as the sprocket will be clamped against your hub thing against the spacers.
I cant really model the deflection for a whole gear assembly with 8 bolts, but I can model a simpilar thing with only 1 bolt... A deflection load on one boat to illustrate a point, and perhaps it is also useful.
The moment of inertia of a 0.2" bolt diameter is 0.0000785398
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plugging into the structural calcualtor
I can't really do the math with 8 bolts in a gear. the modeling is too much, but here is a case of deflection with one bolt... I put in a M5 bolt that is extended out by 29mm or 1.14" inch. I got the 29mm from what you said, a 29mm bolt. Then I put a 300lb load at the end of the bolt as seen. The deflection is 0.06" or 1/16" on your 29mm bolt which is quite a bit... I mean, you are running 8 bolts and all, but think about the tight tolerances involved, and 1/16" is more than enough to cause some serious harm... I would add on spacers and see what happens. If that doesnt work, you can drill out your hub adapter holes and put in a thicker diameter bolt with spacers, but i think the spacers should be an improvement.
ya folks better like this post cause it takes some time to write out all this crap . For reference, the deflection span is L/17 which means your bolt 1.14in long, you take 0.06/1.14 = 1/17... Whichmeans the deflection is 1/17 the length of your bolt... The building codes for houses, buildings is L/360 which means it can only be 1/360 the length, meaning a 360 foot long floor joist can only deflect 1ft in the center.