Fire up your grill and get it to medium-high heat, around 400-450°F. Clean and oil the grates well. While the grill heats, make your chili butter by mixing the softened butter, chili powder, smoked paprika, garlic powder, cayenne, and half the salt in a bowl until well combined. Set aside at room temperature.

Pat the corn dry and brush each ear lightly with olive oil, then season with the remaining salt. This helps create better char marks and prevents sticking to the grates.

Place corn directly on the hot grates and grill for 15-20 minutes total, rotating every 3-4 minutes to get even charring on all sides. Look for those beautiful dark grill marks and some kernels that are starting to caramelize - that is where the flavor lives.

Remove corn from grill when nicely charred all around. While still hot, immediately brush each ear generously with the chili butter, making sure to get it into all the crevices between kernels.

Finish with a squeeze of fresh lime juice over each ear and a final pinch of salt. Serve immediately while the butter is still melting and the corn is steaming hot.