What is r/CryptoCurrency Moons

Moons are an ERC-20 token launched on Arbitrum Nova by Reddit admins in May 2020 as part of the Community Points project. They serve as a reward system for users' contributions to the r/CryptoCurrency subreddit, providing them with a unit of ownership within the community. Moons are managed by smart contracts and stored in the Vault, an Ethereum wallet within the official Reddit mobile app.

A brief history of r/CryptoCurrency Moons

The introduction of Moons in r/CryptoCurrency was aimed at rewarding users for their contributions to the subreddit. Moons were initially distributed based on the karma earned by users prior to the launch. Since then, monthly distributions have been taking place, with the supply decreasing by a fixed percentage each round. Moons play a vital role in subreddit governance and incentivizing active participation.

How r/CryptoCurrency Moons works

Moons are distributed every 28 days based on the share of total karma earned by users within the subreddit during that period. The distribution is automatic for users with a Vault setup, and Moons can be earned through various activities such as commenting, posting, winning competitions, and participating in subreddit activities. Karma modifiers, set by the subreddit community, influence the conversion of karma into Moons.

What is r/CryptoCurrency Moons used for?

Moons have multiple uses within the r/CryptoCurrency community. They allow users to display their reputation within the subreddit and unlock exclusive features such as badges and GIFs in comments through the Special Membership. Moons can be used to vote in governance polls, tip other users, obtain r/CryptoCurrency Coins, access special perks implemented by the moderation team, and even rent banner space on the subreddit. They can also be redeemed for Reddit coins, but exclusively for use within r/CryptoCurrency. Additionally, Moons serve as a portable proof of reputation and contribution within the r/CryptoCurrency community, and their ERC-20 nature enables potential utility and value beyond Reddit itself.