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/r/Cryptocurrency Introduces Moons! A Reddit Token!

By FarewelltoMinds | Farewell2Minds | 14 May 2020


As a part of Reddit’s new ERC-20 point system, /r/cryptocurrency has introduced it’s own 'token' called Moons. Each community on reddit has its own variant of community points, represented on the Ethereum blockchain. Community Points represent ownership and participation in a subreddit. They can be earned, tipped, won, collected and spent on unique items within each community.

In /r/Cryptocurrency, Moons will be distributed on a monthly basis. They are rewarded to individual contributions, like posts and comments. If you make a meaningful contribution like a great analysis of crypto, you can get some Moons. Already, users are clamoring to the daily chat in order to get tipped their share of Moons.

According to the /r/cryptocurrency post, a total of 250 million Moons will be distributed by 2040.

Users need to first setup their ‘Vault’ (re: Wallet) on the Reddit App to be able to begin earning Moons.

Will Moons be worth anything? Unlikely, beyond cool and fun hats and badges on /r/cryptocurrency. I do not encourage anyone to go bust spending all their Ethereum when the Reddit App + ERC20 goes live during the summer. But what is great about this is the further adoption of cryptocurrency.

As users begin to become more familiar with Ethereum and its token ecosystem, I expect more people will invest in Ethereum, and, by extension, Bitcoin. Bringing Ethereum to millions of users, and doing so in a positive way that is fun (earning cute alien gifs on Reddit for posting about crypto or whatever their subreddit it) is a far better way to increase the social value of Ethereum than the current way.

Remember, most DAPPs on Ethereum are either gambling or bullshit. So in reality, Reddit will be the first million-user website to use a DAPP on Ethereum.

In short, Moons aren’t going to get you rich. But Millions of people learning about crypto and Ethereum and Bitcoin certainly could.

Learn more here!

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