Hi everyone ! Since the daily isn’t really the best place for long posts, I’m here to make a recap on MOONs, what it is and why you should be bullish about it. While this is obviously quite a shill, I’m also willing to make it a public service announcement for the newcomers and crypto beginners on this sub.
What are MOONs ?
First of all, it’s a Governance Token for this sub. Formerly created and minted monthly by Reddit included in their RCP (Reddit Community Points) program.
The project has been sunset since then, and the contract has been renounced, making it a truely community owned token. Thanks to the mods and community members, a DAO was formed and all the usecases in place have been revived (banner renting, distributions, tipping, etc.)
Two major things changed with this event :
- No one can mint MOON anymore, the supply is hard capped and deflationnary
- The future of the project is in the hands of its community, no one is « in charge ».
You can earn MOONs…
Governance
Because it’s a governance token, participating in the sub’s activity rewards you some, according to your monthly earned Karma. The tokens will be sent directly to you if you have a registered wallet.
Tips
You can also tip them to other users as a reward for informative or useful contributions, right in the comments using the tipbot command.
Voting
Your holdings will reflect the weight of your votes in the monthly CCIP proposals made to change the rules of this sub and the economy surrounding it.
… or you can buy them !
Buy them, what for ? You may ask. Well, because you can ! This part is more dedicated to gamblers and people that believe in the evergrowing economy of this sub. Remember this is a high risk asset, no one knows what the future is made of and you could lose it all. Never invest more than you’ll be confortable losing.
Where can I buy MOON ?
There are a few ways to buy some, from easy to more advanced.
CEXs : the easy way
The easiest way is to grab some with $ or € is centralized exchanges like Kraken (our official partner) and Crypto .com
DEXs : more advanced users
For the DeFi adventurers, you’ll have to use either Arbitrum One or Arbitrum Nova networks.
MOON is paired with ETH on DEXs :
- Camelot (Arb One)
- SushiSwap (Arb Nova)
What are the usecases of MOON ?
Adertising
MOON is the heart of this sub’s economy. The main usecase is advertising. Companies, brands and projects can rent the banner, book AMAs and giveways, sponsored events.
These events are paid in MOON that are, once bought by the renters, sent to the burn wallet. This creates scarcity, these tokens will disapear forever.
DAO
MOON is also used to vote for the rules and changes made to the sub (eg. discussing rent prices, new partnerships, etc.)
Education
It’s a good way to learn and make baby steps in the DeFi world. Since you’re getting rewarded MOON for your contributions, learning the process of managing and securing a wallet, sending and receiving tokens, bridging them, selling and buying them come along your DeFi journey at litterally no cost. It’s a free tutorial on what crypto is all about :
decentralization and self-custody.
FAQ
This part is a non exhaustive list of questions I see in the daily that may help you catch up.
Are MOONs still a thing ?
Yes ! If you’ve read this far, I hope you get it. You’ll be able to follow the ventures of this project on r/cryptocurrencymeta and r/cryptocurrencymoons
Are Distributions going on again?
Yes ! After the sunset, distribution stopped for a time but has been revived thanks to the community. All you have to do is create a vault or a fresh new wallet and register your address with the bot to start earning monthly.
Are there guides to learn more?
Yes, you’ll find everything you need in this sub Wiki, but also the other dedicated subs mentionned above.
On a sidenote, I’m working on writing simple and explicit guides for setting up a wallet, registering for distributions, learn more about the tokenomics, how to sell and buy. Stay tuned.
Will MOON reach $1?
While no one can predict anything, here are some metrics to put it into perspective :
Right now MOONs are traded at around $0.21 with a Market Cap of roughly $18M. The hard capped supply of 80M tokens (after sunset) is burning at a fast pace, getting smaller everytime the banner is rented, or an AMA is hosted. Reaching $1 is x5 from now, and would make it a Top500 token by Market Cap which is already ridiculously low. A lot of memecoins without any utility go beyond $100M MC within a few days.
What makes you bullish about MOON?
Absolutely everything about it. Not only it has proved to be a great governance tool with great usecases, a well decentralized distribution, its meme potential is insane. This ticker is litterally MOON.
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This post is obviously not exhaustive. Your welcome to ask question and help out each other understand the project in the comments. Feel free to join the other dedicated subs to learn and discuss more about the project.
For all those interested in making some noise about it, raise your hand. I’m working on visual content to help communication on socials and will publish a work in progress status on r/cryptocurrencymoons in the coming days. Stay tuned and take care.
