MOONS reddit new cryptocurrency

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Avatar for Abothe
Written by
4 years ago

Even the social media platform are also decentralising this days. We can see some of the decentralised social media like uptrend, cent which give its users an opportunity to earn cryptos in exchnge of posting quality content. Same is the thing in the reddit community.

What is this so called reddit token?

In  a bit to create a more user centric social media platform reddit has introduce its new community point system build on Ethereum blockchain. Its has been officialy announced that they have introduced two new loot token for subreddit cryptocurrency and subreddit fortnightBR  called Moons and Bricks respectively .On May 13th  reddit has announced that all its redditor will be able to earn reward in the form of this ERC token based on ethereum blockchain in order to engaged a quality content from the redditors.

How will this system work?

According this project 50 million Moons will be distributed based on karma earned in the subreddit.

The amount will start at 5 million and decrease by 2.5% every cycle, so that the total number of Moons distributed will approach a maximum cap of 250 million.

How much and what does the token worth?

Users will have the freedom to either save their community point or utilise them to buy premeum reddit feature such as badges, emoji and GIF in the comment.

Each community point will be visible besides the username in the comment section in order to make it more transparent.Accordingly  reddit community will exercise full control of the comunity point. While reddit karma will provide a basis of users engagement within the community.As point will be based on blockchain and stored in a wallet no one can take the point away.

Starting of the new cryptocurrency distribution.

The community point is in beta phase and is based on Rinkeby and Ethereum testnet. During this time reddit will conduct an experiment with reddit communities. And  will finalised how the reward system will work

After the beta phase reddit will move the community point system to ethereum main net.with over 2 million monthly visit the establishment of Ethereum based point system into reddit could prove to be a major boon in wider adoption of cryptocurrencies.

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Avatar for Abothe
Written by
4 years ago

Comments

nice article and good news for reddit users can earn by doing daily activities on reddit

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User's avatar rmktamilsoft
4 years ago

Yes it such a gift to all million of redditors. For being part of reddit family. And helping reddit reach up to this level

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User's avatar Abothe
4 years ago

well reddit crypto currency MOONS is nice project.My question is can we able exchange that tokens to other cryptos?

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User's avatar G4ceTech
4 years ago

Till now it not very solid on how much the toke n worth about. I dont think it can be exchange till they announced about it

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User's avatar Abothe
4 years ago

This was bound to happen eventually. Reddit is already popular, and it's karma system fits perfectly with a crypto reward model.

Remember that Steem were modeled based on Reddit?

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User's avatar phgnomo
4 years ago

Yes it is just like taking reddit to a new level. Where no other platform have ever reach. It's theire system that make this possible

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User's avatar Abothe
4 years ago

I always love reading about crypto!

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User's avatar Arnavaria
4 years ago

Thnx you can check my other article regarding crytocurrency if you are interested. I have out up some of them

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User's avatar Abothe
4 years ago

Hopefully once released in the market there will be good value in the market later.

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User's avatar Alther
4 years ago

Yepp hope so .but till now are only available to redeem emoji,premeum mebership and all that. So it doent worth much in market value . I think till now

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User's avatar Abothe
4 years ago

This is a plus to reddit. It will encourage the users to work more on the blogging site. It is a good development.

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User's avatar Olad
4 years ago

Yes it is. Hope some day facebook too launch such project. I heard that they are also trying to lauch theire own coin.

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User's avatar Abothe
4 years ago

I think face book launched Libra or so. I'm not following the latest development on it though

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User's avatar Olad
4 years ago

Yeah i have heard of libra project. But havent heard about while. It would be great if they work on it just like here

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User's avatar Abothe
4 years ago

I think there are some restrictions from the US governments on that Libra project. I don't have enough time to read about it.

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User's avatar Olad
4 years ago

Might be there might be some hidden agenda out there regarding facebook. As we can see in daily new.

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User's avatar Abothe
4 years ago

So many cryptos and tokens popping up. Getting hard to discern the value between them. I guess getting in early or timing a pump is of some value.

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User's avatar StarLord
4 years ago

Crypto can be made anytime. That ia what is happening. They are not owned by any centralised organisation. So anything can be done. More new may also come

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User's avatar Abothe
4 years ago

yep heaps of people and projects issuing new crypto tokens. I guess market will decide how valuable each is.

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User's avatar StarLord
4 years ago

If there is less demand then there will be no market value at all. First they should be of high demand in order to compite the market. Otherwise it just a token.

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User's avatar Abothe
4 years ago

Yeah without a good function - currency, service or asset. Then unlikely to be priced up to moon status.

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User's avatar StarLord
4 years ago

Hope this reddit tokenalso worth some market value in later to come. Them it will engage more redditors to join theire community

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User's avatar Abothe
4 years ago

Thanks for letting us know this news. Thanks for thy great article. Well done.

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User's avatar Sdsahu101
4 years ago

Welcome budy. I just found it today so i thaught why shound i share to other. So that they too can aware of it.

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User's avatar Abothe
4 years ago

Do you know who gives these tokens out?

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User's avatar potta
4 years ago

This token-based incentivization scheme is part of the social media networks new project,Community Points and is shared by MagoCrypto. And is said to have managed by a suite of smart contracts that handle balances, transfers, distribution/claiming, and purchasing Special Memberships

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User's avatar Abothe
4 years ago

That was very good article I think in upcoming there will be more than 80% sites like reddit will pay the users in term of crypto

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User's avatar Shinobi1
4 years ago

Hopefully there will be more. Even facebook was heard talikg about theire own coin called libra. But havent herd for a while

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User's avatar Abothe
4 years ago
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