Trim the pork belly- remove the skin from pork belly, if still attached. Trim the top fat cap to 1/4-1/2" thickness.
Create the dry rub- in a small bowl, stir together the brown sugar, oregano, chili powder, paprika, salt, onion powder, garlic powder and cayenne. Rub the pork belly generously, top and bottom.
Heat the smoker to 225F. Add the pork belly to the smoker, close the lid and cook for approximately 8 hours, until internal temperature reaches 190F.
Increase the temperature to 450. Baste both sides with barbecue sauce and caramelize lightly for 10 minutes, turning once halfway through.
Remove from smoker and rest for 10 minutes. Slice into strips approximately 1/2" thick and serve hot.