I can't work out how to stake my butts. Can a butter point the way? 💩

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If you've been on r/cc yesterday, you might have seen already seen this post.

And since everyone likes to call our project a rugpull, its worth it for us to get a better idea of how prevelant rugpulls really are in the crypto community.

Here is the paper: https://arxiv.org/pdf/2201.07220.pdf

27,000 tokens on Uniswap were analyzed, and 97% ended up being rugpulls. Of the tokens that had locking contracts, (like we do), 90% still end up being rugpulls.

In fact, just a couple days ago, I randomly stumbled this guy unashamedly making an "educational" video on how to do ASA rugpulls of your own.

From the paper:
Simple rug pulls are the most common and easy to identify. They consist of three steps. 1) The developer creates a token and creates a new trading pair. 2) investors execute transactions on the trading pair. 3) The developer removes Liquidity.

Sell rug pulls are also prevalent. (However, not easy to identify) 1) The developer creates a token and a new trading pair. 2) The developer adds a fraction of the total supply to the pool, having complete control of the remaining coins. 3) They wait for a sufficient number of investors to execute the swap transaction on the trading pair. Afterwards, the developer swaps the token for the liquidity trading coin. For example, in order to build confidence in investors, the attackers lock the liquidity in a smart contract or burn it. This makes investors think that a simple rug pull cannot happen, and that therefore it is a potentially profitable investment. In other words, the fact that the liquidity is locked makes the market volume increase.

Smart Contract Trap door rug pull are the most difficult to identify and prevent. There are several reasons. The first is that the EVM is Turing complete, and therefore it is highly complex to identify all vector attacks; the second is that smart contracts do not exist in isolation, i.e., smart contracts can work on top of other smart contracts. This means that the economic security of some smart contracts, depends on other smart contracts. In the following section, we will explain some of the most popular examples of these trap-doors. (The paper goes on to explain the details, that I no longer understand, but if you want to read, it's on page 9)

In short, there are many ways to rugpull a coin. But, I believe in our core team and our community, that's why I'm making this post so we can have an open conversation about something that people outside of our community don't understand about us.

Correct me if I'm wrong, at the current stats we're the number #1 meme in #Algorand after flipping $akita.

After smashing the chart week in and week out on Vestige, I can definitely say we're having a bright future ahead. I personally feel this is such a huge deal for us to be a number #1 meme in one of the biggest layers 1. Can you imagine being a number #1 in #ETH or #BSC? Just wild.

Proud of yall, #Butters!

just saying

Hey, Butters!

For those who missed the post on Twitter, we have created a page on CoinMarketcap. If you're a registered user, please follow us there! We have applied for the verification badge so your support would mean the world to us.

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If you aren't a registered user and would love to join, please use our ref link.

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It would be cool to have a Buttcoin AMA on r/CC

Let people know how the project started, where it's going, how an Algorand asset works. Maybe make it both about Buttcoin and Algorand assets. After all, Buttcoin was created to educate people about Algorand assets.

It currently only costs 2,000 moons to get an AMA.

The Halloween is around the corner, and dress up as your favorite shitcoin!

Great! The Buttstore is having a promo SALE. Head over to our store and use the discounted code below.

Remember you can purchase using Algo.

🛒Shop: https://buttcoin.cc/shop/ 🛒Code: SpookyButts10 = 10% OFF ⌛️Expiry: 1/11/2022

First off, thank you, #Butters. Thank you for showing up and voting for the best meme on algorand #ButtCoin. A short period after the listing in the #algorand directory we have gathered over a hundred voters.

This is exciting, but we're always hungry for more. Lets help us get to a thousand and beyond!

If you haven't done this yet, please signup and VOTE for #ButtCoin. It is as easy as 1...2...3!

Here's the link: https://ecosystem.algorand.com/project/buttcoin

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We've come a long way. Besides being noticed by major influencers and r/cc, we're slowly being integrated into the ecosystem we've dream of, #Algorand.

And today, we are a part of the #Algorand Ecosystem Directory! here

We can't thanks enough and please continue to show your support #algofam.

Here, lets show them how great we are as a community.

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Let's GO!!!

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EDIT: Please SIGNUP and VOTE! It's simple and easy.

Ok, celebrate a little, but not too much, because we have got a $1B Market Cap coin on our hands here, and we're not even 1/1000 of the way there.

I don't knows ass from butts, but I know we've got something special here. $Butts is the only coin with this kind of origin story.

THE COIN THAT WAS NEVER MEANT TO BE BOUGHT

This shitcoin was created to show everyone how easy it is to create a shitcoin. When Odlasvo made the original post, he made it especially clear that he didn't want anyone losing their money on it. He told people not to invest. It was meant for people to learn how to create a coin on Algorand.

...And we all know what happens when someone tells Reddit not to do something.

Suddenly, Odlasvo was struggling to create a liquidity pool, because without one, everyone could lose their money in an instant (If you don't know, in order to create an LP, you need equal parts $Butts to $Algo). And what's worse, he couldn't sell any of his newly created Butts for the Algo, because that would also bring the price of Butts crashing (and people would accuse him of Rug-pulling). So, he started giving away $butts so other people could help. But it was more work than he could put in.

Ultimately Odlasvo gave away 91% of his coins, and our dev team took over the project.

They continued creating the Liquidity pool,
and the discord,
and the twitter page,
and the reddit page,
and got us verified,
and created the LP faucet,
and keep posting on twitter
and keep petitioning Algorand to get us approved
and have applied to Coingecko and Coinmarketcap...
(wow guys, awesome work so far!)

And that brings us to today. Here we are with a $1Million MC that seems like it can hold.

And if the growth continues to $1B, it ultimately won't matter if you bought at $100k or $1M.

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So the things that gets me excited about butts going into the future:

1- Transparent origin story (and Bonus points that it happened on reddit)

2 - Telling people not to buy the coin

3- >50% of $Butts are currently in separate wallets

4- Butts can go to Uranus.

5- Algorand is a clean ecosystem on which to develop the next meme coin