So a lot of people on this sub seem to still be salty that Reddit left moons and haven’t bothered following moons since then. With MOON on the rise again I thought I would give you guys an update.
Reddit didn’t “rugpull” but burned the contract
I’ve seen a lot of people calling Reddit leaving moons a “rugpull” while it’s actually the opposite. Reddit burned the MOON contract and burned around 40 million MOON with it. This means the supply has shrunk by a significant amount and no more MOON can be minted.
MOON is now decentralised
With Reddit burning the contract, MOON became decentralised and isn’t dependent on Reddit anymore. This is exactly what cryptocurrency stands for and with the “rugpull” out of the way MOON is now governed by the community.
Mods brought back distribution
In june 2024, mods brought back the distribution of MOON on the r/cryptocurrency subreddit with the use of u/communitycurrencybot. Every month a “moonweek” is posted with the result of the distribution for that month and proposals for the governance of MOON which can be voted on with moons.
Moons are now stored off-chain and can be withdrawn with the !withdraw command. If you don’t have a wallet connected yet, you can use !register [walletadress] to connect your wallet. The moons will be withdrawn using the Arbitrum One network. Use !balance in the comments of any post or use the link on the bots profile to send it a balance request. Tipping moons is also still possible by responding with !tip under a post or a comment.
Advertisers can rent banners and host AMA’s by burning MOON
With big companies like Kraken burning 100k MOON to advertise on the sub, MOON doesn’t just have a very low supply but is also deflationary, meaning the MOON supply decreases. This could cause a huge supply shock when the demand goes up.
Take a look at ccmoons.com to find all the information you need about MOON.
submitted by /u/Froezt
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