 # $RUGRACE - A Live Case Study *A Meme Coin Experiment & Case Study by Survival Is Near* --- ## Part Two: If you missed our previous post summarizing Day 1 you can find it [here](https://near.org/s/p?a=survivalisnear.near&b=117075105) to get more background on the Rug Race. ### Day 2 There was quite a bit of activity on Day 2 of our social Defi experiment, with the price pumping to just over $1,400 as more buyers came in to test their luck. We made an announcement in our [Telegram Channel](https://t.me/survivalisnear) and dropped a [Tweet](https://twitter.com/survivalisnear/status/1780782245760127056) highlighting Part One to help create a bit of a buzz, without intentionally shilling (because why would we do that?), then we offered some [$PUSSY](https://t.me/pussyonnear) & [$STOP](https://t.me/stopbuyingrugs) tokens to random winners just for the fun of it! The Token Burn event was [announced](https://t.me/survivalisnear/37) in our Telegram Channel letting everyone know that we burned 22% of the token supply and we waited to see what would happen. Here's the [receipt](https://nearblocks.io/txns/Bq7uBWtVWDSSBjVMrN8dCjeViAy53znhPoSbc325pYjg).  What came next wasn't too surprising to be honest, as we saw a number of holders dump their positions. But rather that an upswing on the latest buy, we ended up with a dump. It could be the lack of liquidity in the pool to offset any major price impact, hence the substantial drop in price. Just a friendly reminder that we're not as Degen as we thought! **Here are some stats according [Dexscreener](https://dexscreener.com/near/refv1-4998):** - [Liquidity Pool](https://app.ref.finance/pool/4998) - Transfers - 135 - Holders - 10 - Number of unique buyers/sellers - 7 - Price of tokens at time of writing - $762.85  --- ## What's Next? ### Exit Liquidity Yup, the time has come to finally pull the plug and end the Rug Race. We will begin by selling off 0.279 $RUGRACE before exiting our position in the liquidity pool and then selling off all remaining tokens in our wallet. Honestly, I'm not sure how it will unfold but this is an experiment and we're going through with it! Be sure to check out our Conclusion post tomorrow as we recap everything. ### Top Trader Award We've decided to award the Top Trader (based on Dexscreener) with a commemorative NFT! This award may have future utility (not a promise) as we continue our journey, which might be revealed at a later date. Unfortunately those who participated using DragonBot are not eligible, mainly because we are too lazy to do the math and their trades don't appear on Dexscreener. ### Ruggin' Hood Yes, we are a "Fair Rug". After some deliberation we decided it would only be fair for all the remaining holders (at the end of the Rug Race) to be reimbursed 50% to 80% of their loss. The reimbursement will be based on the $NEAR amount at time of purchase and will take into consideration any sell-offs. A snapshot will be taken and funds will be sent in $NEAR to the eligible wallets listed [here](https://nearblocks.io/token/rugrace.tkn.near?tab=Holders). I mean come on... You knew what you were getting into, didn't you?!? That's it folks! Stay tuned for our wrap up post to see the results of this experiment and look out for The Meme Maze 🐝 coming soon! --- *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! 