Update regarding Moons contract, community tanks and the future of Moons.

Hey r/CryptoCurrency, we know everyone has been waiting to see what the result of Reddit sunsetting Moons will be in terms of the project’s future.

We appreciate everyone's patience and understanding while we were waiting for confirmation from the admins on the contract status. We received a solid response and we are very excited to get started building the future of Moons together as a community.

⁠Moons contract

The Reddit admins will be renouncing the Moons contract, and it is expected to be complete by the end of this month. This action is permanent and once complete it will be impossible for any further changes to be made to the contract. The implications of this are:

  • No new Moons can be created.
  • All exchange listings remain intact.
  • Moons can continue to be listed and traded by exchanges and wallets as before.
  • The contract will forever remain unchanged, rendering Moons completely decentralized.

Tldr – This means that Reddit will give up control of the contract and send it to a burn address, so that effectively no one will have control of the contract. Not Reddit, not the mod team.

More info about contract renouncement for those interested: https://quickintel.io/blog/what-does-a-verified-or-renounced-contract-mean-in-crypto

Community Tanks

  • Reddit admins will be burning all Moons held in the Community Tank, and this is also expected to be completed by the end of the month. This lowers the total supply from around 125,969,899 to 83,205,951.

Tldr – This means that the number of Moons will be reduced, and Moons will no longer be an inflationary token. If Moons are burned, it will become deflationary.

Future of Moons

  • The mod team will work with the community to develop a plan forward for Moons. This includes a way to distribute the remaining Moons in the community wallet, which may be based on contributions in the community, tipping and contests.
  • The mod team will work out whether Moons from banner rentals and AMAs should be burned or redistributed back to the community.
  • The mod team is working on a flair bot to show moon totals next to usernames and a tip bot for tipping of Moons.
  • The mod team will continue to develop bots and use the available API to improve the utility of Moons.
  • Moons will continue to be listed on exchanges and can still be traded.

There are details that will still need to be discussed and finalized, and we will solicit community feedback in r/CryptoCurrencyMeta to ensure we make the right decisions for Moons going forward.

Thank you all for your patience, and we look forward to working with you to make Moons a success into the future.

50 thoughts on “Update regarding Moons contract, community tanks and the future of Moons.”

  2. Finally, at least now we know.

    Since the community wallet is finite, there won’t be much to distribute in the future.

  4. Honestly this is about as good of a resolution as we could have hoped for! I appreciate the remaining mods working through this process!

  5. Over 40 million moons being burned and nobody owning the contract ever again is the best thing that could have happened. This is fucking awesome. Let’s go!

  13. Holly crap! Moons now belong to the community! To the fucking Mooon bois! Let’s gooooooooooo!

  14. So 1/3 the supply is going to be burned and people that didn’t extract their key from the vault no longer have access? Gonna be some wild action.

    Edit: oh yeah and no more inflation….

  15. Probably the best possible outcome for Moons! Thanks Mods for being super diligent and transparent through this untimely sunset.

    We’re better off without Reddit 🚀🌕

  17. Pour one out for all the homies that said “fuck it they’re worthless” and didn’t bother getting their keys

  24. Thanks Reddit for doing the right thing! It’s a whole new ballgame! Kudos to the MODs for this!

  26. So you’re saying I could still get lambo with moons. Thank god. Me and my 300 moons await the gains.

  28. Moons tipping is going to become so much more substantial with the deflationary aspect

  29. Well done mod team and all involved with keeping Moons going. Really appreciate the great work you’re doing.

  33. Big whales got out, noone in charge of it, we finally have the apex of community owned coins, bullish af

  34. Glad I got a cheap bag at $.06. Such a small market cap and ready for post halving. 🤑

    Let’s see where this community takes this. This explains the giant green dildo.

    LFG!

  36. Congrats to the mods and everyone that didn’t lose faith in the project.

    Thanks to the admins as well for seeing some sense and allowing us to continue with our beloved project, God bless! 🙏❤

  37. Moons are back, stronger then ever

    All fud that some assigned to Moons have now been lifted, now fully decentralized, with 1/3 of supply burned, max capped at 83m Moons minus burned and lost Moons, almost all use cases will stay and we are heading into bullrun

    Strap on, its gonna be a wild ride 🌕

  38. So let me get this straight:

    • Moons are now deflationary.

    • About one third of them will be burned.

    • We still have the biggest crypto community and still advertisers need to buy moons to get the ad space.

    • Moons are still traded to some of the biggest exchanges with no problems.

    • Some of the biggest whales have sold their bags.

    • Finally moons are decentralized.

    Isn’t this current situation 10 times better than what we had before???

  39. Just wanted to say that I appreciate all the mods who busted their asses and have kept speaking with Reddit. Y’all the real MVPs for keeping the project going and it’s somehow more decentralized than before.

  41. We broke $0.10 and are at $0.123409 people are buying back in! 20c here we come!

  42. Congrats to all you guys still holding moons! After reddit rugged us, I figured they would kill moons completely. I’m glad to see it pumping for you guys.

  43. wow. I really didn’t expect this. that’s some news. completely decentralized. let’s go.

    and that burn! whoa…. like 30% by the end of the month! crazy

    moons are back baby

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