r/cryptocurrency MOONs: All you need to know

By Matthew Trainer | Trainerd | 31 Jan 2021

Let's talk about MOONs. MOONs are the cryptocurrency of the subreddit r/cryptocurrency. They are rewarded to users for posting, and commenting. They are becoming more and more popular every day. Today, I'll tell you what exactly MOONs are, how, and where to buy/ sell them.

What are MOONs, and how do they work

MOONs are essentially community points earned on r/cryptocurrency. You are rewarded for the content you make every month. MOONs are an ERC-20 token, so they work on Ethereum, more precisely the Rinkeby testnet, as to avoid paying insane GAS fees. The incentive of MOONs can, in some way, remind you of Publish0x, where you are rewarded for creating content. Other similar systems that come to mind are Steemit, Tipestry, Torum, or noise.cash. 

But back to MOONs. MOONs are what is called RCPs, Reddit Community Points. While r/cryptocurrency has RCPs called MOONs, r/FortniteBR has RCPs called Bricks.

MOONs have a hard cap on the max amount of MOONs distributed. It is exactly 250 million. Initially, 50 million MOONs were distributed for all the content created before the implementation of MOONs. And from there on, less and less MOONs are being given out each month, to spike the price up, and overall make MOONs more valuable. There are exactly 51,479,703 MOONs in the circulation right now.

You receive MOONs to your reddit vault, which you need to create before being able to get them. Here is a tutorial on how to create one. The owners of MOONs are motivated to get the Reddit Special membership. It costs $4.99/month, or 1000 MOONs /month. Now that 1000 moons are worth like 145 dollars, it definitely is better to just pay for it in money (FIAT). But, if you do choose to pay in MOONs, all MOONs you paid will be burned, thus potentially increasing the price, and helping the whole community.

MOONs also give you vote weight in polls in the subreddit. Think of it as a Proof of Stake system. The more MOONs you have, the bigger the weight of your vote. This is a good incentive to HODL your MOONs, as to be more impactful in the community.

Every Round (every month), there are community proposals to change the way MOONs are distributed, as to make it more fair, and reduce spam, and low effort posts. Now, these proposals, even if they pass the voting, are not guaranteed to be implemented. It all comes up to the reddit moderators implementing it.

As for implementation, exchanges showed interest in MOONs very early on. Here is an article by Kraken, one of the biggest crypto exchanges.

How To Sell / Convert to other crypto

To not repeat what has already been said before, here is an article on how to sell your MOONs for ETH using moon-exchange.herokuapp.com and honeyswap. However, you can do this a lot easier, with a sacrifice of a low fee. 

Visit nano.trade, which lets you sell your MOONs for NANO, or BANANO if you visit banano.trade. To sell, you just select MOONs, click sell MOONs, provide your NANO address, send your MOONs from your reddit vault to the provided address, hit submit, and you're done. You'll receive your NANO /BANANO almost instantly.

From there on, if you want, you can visit any exchange that supports NANO / BANANO, deposit them, and trade them for other cryptocurrencies / sell them for money.



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Matthew Trainer
Matthew Trainer

Crypto Enthusiast, software engineer.


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