ATC200 - I can see a piston ring through sparkplug hole??????? HELP!!!

[turtlethepyro]

Good Morning,

I have had this paticular Big Red for the past 6 months. When i got it, i had to clean the carb and she was ready to go. Drove beautifully. 3 months later, went to start it and it smoked like crazy the entire time. From the initial startup to riding it around the trails for 30-45 mins. After that, i parked it because i was convinced that it would need new piston rings at the very minimum.
Having some additional time, i have been trying to work on it. I put some seafoam into the cylinder and let it soak for a bit hoping it would just unstick a piston ring and i wouldnt have to tear into it. then i recleaned the carb, and i saw some thick dark paste like oil on the choke butterfly plate. anywho, i cleaned it all up and the bike started. Again it smoked like crazy so i drove it around and the smoking STOPPED! which put a big smile on my face.
Yesterday went to start it, and again it smoked pretty bad. I took the spark plug off the machine and took a Maglite to see down through it, and i think i can see a piston ring kinda just floating in there. At first i thought maybe it was a valve dropped, but it really looks like ring.

IS THIS POSSIBLE? what am i in for before i tear this bike apart? Other than the smoking, she runs awesome btw.

[RodKnockRacing]

Probably gonna have to rebuild the top end and check the oil pump and u shouldn't be seeing a piston ring and u shouldn't have any smoke at start up that indicates rings not sealing or valve seals letting oil threw into the top end also check for oil around where the head meets the cylinder on the 200s there's a o ring on the stud of the oil passage between the cylinder and head

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