💩 What is HoneyPot or Liquidity-Remove?

What is a HoneyPot?

A HoneyPot is a token that can only be bought but not sold. It is also considered a HoneyPot if the tax rate is too high. The usual methods of implementing this are:

1. Directly restricting transfers at the contract code level.

2. Applying other contract codes to restrict transfers.

3. Delayed HoneyPot (becoming a HoneyPot after reaching a certain block).

4. Blacklists, high taxes, and other restrictions that prevent you from selling.

What is Liquidity Remove?

Liquidity Remove refers to the token developer directly removing the token's liquidity from a decentralized exchange (DEX), making it impossible for users who have already bought the token to sell it. Before the Remove, buying and selling were possible.

Why Can Others Sell HoneyPot Tokens?

1. The HoneyPot state is controlled by the contract's code. For example, in the case of delayed HoneyPot, it becomes a HoneyPot later, so earlier trades were possible.

2. Addresses on the whitelist can still sell.

Is There a Way to Completely Avoid Buying HoneyPot Tokens?

The status of a token is constantly changing and is not fixed. A good token now might become a HoneyPot later, and a HoneyPot might turn back into a normal token. Technically, there is no way to completely avoid this. Whether a token becomes a HoneyPot depends on when the developer decides to change its status.

What to Do After Buying a HoneyPot Token?

Even if the liquidity pool is withdrawn or the token is marked as a HoneyPot, some tokens can still be sold. It is advisable for users to frequently check their wallets and try to sell any tokens that seem unsellable multiple times. However, pay attention to gas fees, especially on the Ethereum network. If the value of selling does not cover the gas fees, it is not advisable to sell.