 # $RUGRACE - A Live Case Study *A Meme Coin Experiment & Case Study by Survival Is Near* --- ## **Part One:** ### Background On the 16th of April 2024 in one of the Memecoin Telegram groups there was a conversation that spawned an idea. What would happen if we created an intentional Rug? What if everyone knew ahead of time, but didn't know when? Inspired by the recent [$HORNY](https://dexscreener.com/near/refv1-4994) drop, with its token supply of 1, and the use of the Token Name field to include additional details or requests, as demonstrated by $WOJAK, Rug Race was born and thrust into the degenerate world of memecoins on Near. We knew that the [INTEAR](https://t.me/IntearBot?start=5974833388) Bot's “New Token” notification would have snipers at the ready and a discussion would ensue in the [$STOP](https://t.me/stopbuyingrugs) chat group, so quickly we added a small about of liquidity to 50% (0.5) of the [$RUGRACE](https://nearblocks.io/token/rugrace.tkn.near) token supply so that anyone, at their own risk, could ape in and the experiment could finally begin. We couldn't do this without adding our own twist of course, so we made a race out of it! When will the rug come? Who knows, and that's all a part of the fun! ### Day 1 Almost immediately after the LP was created there were a number of people (or Bots?) buying $RUGRACE. And as the word began to circulate in the $STOP telegram a few more jeeters arrived, jumping in and out, testing the waters unsure how soon the rug would be pulled. There was a mixed response. In the chat people seemed intrigued but apprehensive and on our post in our Telegram channel we noticed a few 👎 emojis. Not knowing how the community would react to such an experiment was definitely a result of spontaneously launching Rug Race. **Here are some early stats according [Dexscreener](https://dexscreener.com/near/refv1-4998):** - [Liquidity Pool](https://app.ref.finance/pool/4998) - Transfers - 77 - Holders - 5 - Number of unique buyers/sellers - 8 - Price of tokens at time of writing - $266.32  --- ## So What's Next? Before going to sleep I had a few new ideas to add into the mix, so with that I'll share the next step in the quick evolution of $RUGRACE. ### Token Burn Event At some point in the *next 24hrs* (from the time of this post) there will be a token burn event. We can't announce the exact details around it, like when and how many tokens, but it is our assumption that by burning $RUGRACE tokens the price will increase and offer holders (at the time of the burn) an opportunity to potentially sell with a profit should they so choose. But who knows... This is the Rug Race and honestly, anything can happen! That said, you can rest assured that we won't be rugging you in at least 24 hrs. Proceed with caution! Oh, and no, there won't be a Telegram Chat, or a Twitter account created for this. Rug Race is not here to stay lol. But... You we will announce the Token Burn in our [Telegram Channel](https://t.me/survivalisnear) so join if you want to be the first to know! --- *Disclaimer: Rug Race is a social DeFi experiment conducted by Survival Is Near and is designed to push the boundaries of what can be done in the memecoin space on Near. This is a game, not an investment, and we don't promise any returns or profits. By participating you acknowledge the risks associated with playing Rug Race and should not hold Survival Is Near accountable for any losses you might incur. It's a flippin MemeCoin, so be safe and have fun!*