A honeypot token is a token that may allow buying but restrict or prevent selling or transferring.
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Short definition
Honeypot is a honeypot token is a token that may allow buying but restrict or prevent selling or transferring.
Simple explanation
Users may appear able to buy a token, but later discover they cannot sell it normally.
Why it matters
Honeypots are a major token safety risk, especially with unknown or newly launched tokens.
Example context
A token contract may include rules that block most users from selling while allowing selected addresses.