Reddit r/CryptoCurrency Moons
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Reddit r/CryptoCurrency Moons (ticker: MOON) are ERC-20 tokens on the Ethereum blockchain.[1] Moons are distributed to subreddit users on a quad-weekly basis for active participation in the community.[2] Moons can be earned, bought, spent, tipped and used for weighted voting on subreddit's governance polls. Moons are currently on Ethereum's Rinkeby test network with plans to eventually move them to Ethereum Mainnet.[3]
Moons are part of Reddit's Community Points project.[4] Moons can be stored in Reddit's Vault, which is available through the Reddit app.[5] Moons establish a reputation system among subreddit users, since Moons kept in Vault display user's ownership in the community.
Moons are referenced on popular exchanges and market analysis portals.[6][7]
History[edit]
Reddit crypto-currencies started as an experiment on r/ethtrader in 2018, and were then transitioned to Ethereum in late 2019.[8][9][10]
Consequently, Moons have been launched as a part of Reddit's Community Points project on May 14, 2020.[2][11]
Reddit then announced a partnership with Ethereum Foundation.[12]
On July 23, 2021, Reddit announced the launch of a scaling network for Moons - a milestone in moving Moons from testnet to mainnet.[13][14]
Design[edit]
Distribution[edit]
Initially, 50 million Moons were distributed among the contributing subreddit users proportionally to their subreddit karma.[2]
Consequently, additional Moons have been distributed once every 4 weeks: 50% to the contributing subreddit users, 20% to subreddit moderators, 20% to the greater community and 10% to the Reddit administrators.[1] The number of additionally distributed Moons started with 5 million Moons for the first round and has been decreasing by 2.5% every successive round, as shown in Moon distribution schedule table. There is a maximum cap of 250 million Moons to ever be distributed.[2]
| Round number | Round start | Snapshot date | Distribution date | Moons distributed | Link |
|---|---|---|---|---|---|
| 1 | May 13, 2020 | June 10, 2020 | June 17, 2020 | 5000000 | Round 1 |
| 2 | June 10, 2020 | July 8, 2020 | July 15, 2020 | 4875000 | Round 2 |
| 3 | July 8, 2020 | August 5, 2020 | August 12, 2020 | 4753125 | Round 3 |
| 4 | August 5, 2020 | September 3, 2020 | September 10, 2020 | 4634297 | Round 4 |
| 5 | September 2, 2020 | October 1, 2020 | October 8, 2020 | 4518439 | Round 5 |
| 6 | September 30, 2020 | October 28, 2020 | November 5, 2020 | 4405478 | Round 6 |
| 7 | October 28, 2020 | November 26, 2020 | December 3, 2020 | 4295342 | Round 7 |
| 8 | November 25, 2020 | December 23, 2020 | December 31, 2020 | 4187958 | Round 8 |
| 9 | December 23, 2020 | January 21, 2021 | January 28, 2021 | 4083259 | Round 9 |
| 10 | January 20, 2021 | February 18, 2021 | February 25, 2021 | 3981178 | Round 10 |
| 11 | February 17, 2021 | March 17, 2021 | March 24, 2021 | 3881648 | Round 11 |
| 12 | March 17, 2021 | April 15, 2021 | April 22, 2021 | 3784607 | Round 12 |
| 13 | April 14, 2021 | May 13, 2021 | May 20, 2021 | 3689992 | Round 13 |
| 14 | May 12, 2021 | June 10, 2021 | June 17, 2021 | 3597742 | Round 14 |
| 15 | June 9, 2021 | July 8, 2021 | July 15, 2021 | 3507798 | Round 15 |
| 16 | July 7, 2021 | August 5, 2021 | August 12, 2021 | 3420103 |
Governance[edit]
Subreddit users can propose and vote on changes to the distribution rules for contributors. These rules govern, how the user earned subreddit karma (historical Reddit's point system) is calculated. For example, users earn double karma from comments as compared to posts.
The available Moons distributed to subreddit contributors for a particular round are then split proportionally to user earned subreddit karma.
References[edit]
- ↑ 1.0 1.1 "moons_wiki - CryptoCurrency". reddit. Retrieved 2021-07-23.
- ↑ 2.0 2.1 2.2 2.3 "r/CryptoCurrency - Introducing r/CryptoCurrency Moons". reddit. Retrieved 2021-07-23.
- ↑ "r/CryptoCurrency - We're launching a scaling network for Moons!". reddit. Retrieved 2021-07-23.
- ↑ "Reddit: Community Points". reddit. Retrieved 2021-07-23. Unknown parameter
|url-status=ignored (help) - ↑ "Previews Terms of Use - Reddit". www.redditinc.com. Retrieved 2021-07-23.
- ↑ "What is Reddit's MOON token? | Kraken". www.kraken.com. Retrieved 2021-07-23.
- ↑ "r/CryptoCurrency Moons price, MOON chart, market cap, and info". CoinGecko. Retrieved 2021-07-23.
- ↑ internetmallcop (2018-10-01). "Introducing Community Points & Polls: An experiment only in r/ethtrader". r/ethtrader. Retrieved 2021-08-04.
- ↑ Basoosh (2020-12-27). "Donuts FAQ". r/ethtrader. Retrieved 2021-07-23.
- ↑ carlslarson (2019-12-06). "Donuts-on-Ethereum: Launched!". r/ethtrader. Retrieved 2021-07-23.
- ↑ "Will Reddit's cryptocurrency be a game changer? Probably not". Fortune. Retrieved 2021-07-23.
- ↑ jarins (2021-01-27). "Reddit announces partnership with the Ethereum Foundation". r/ethereum. Retrieved 2021-07-23.
- ↑ "r/CryptoCurrency - We're launching a scaling network for Moons!". reddit. Retrieved 2021-07-23.
- ↑ "Reddit Rolls With Arbitrum to Scale Its Ethereum-Based Community Points System". finance.yahoo.com. Retrieved 2021-07-23.
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