Moons moved a few months ago to the Arbitrum Nova mainnet, and there its crypto community learned to work as a team.
Moons, at first paid for its move to Arbitrum as it was very tied to FTX, over time, however, it broke away and thanks to its community has learned to grow on its own.
Summary
Moons (MOON), the crypto that migrates
Reddit‘s Moons is an ERC-20 that pays out rewards to its users and investors in moons.
Moons are distributed using Reddit Karma, a kind of internal regulator that determines the merit of each user.
Moons have multiple functions and are traded quite freely, one of the purposes being precisely the reputation of users.
In addition to indicating one’s merit status in the subreddit they can unlock badges, GIFs, special subscriptions and give more weight in internal voting.
From Reddit’s Community Points, it has emerged that Moons after experiencing a two-year testnet has moved to Arbitrum, the mainnet.
Arbitrum Nova, is an Ethereum side chain and is not subject to fees that are only present for points distribution and subscription purchases.
Moons farming
‘Farming’ refers to all those users who are very present on the network and whose contributions make the Moons seedling grow and for that they are rewarded.
Many users and investors spend their days within the community providing data, answers and highly specific content to which the system recognizes rewards.
This conduct can be real work and is rewarded as such, the work of crypto farming.
One user managed to earn $400 in Moons in a very short time by writing only Moons-related posts on Reddit:
“For me, it’s the stroke of the upvote — the childish part of me that never stopped waiting for the approval of authority figures to tell me I did something right or good or praiseworthy. This is also probably why I closed previous accounts when they reached over 10,000 votes because mission accomplished.”
Another user suggested that:
“Cryptocurrencies can make you really rich or broke overnight. Invest/play within your means. For those looking to pump and dump and get rich in 3 days, what you could potentially lose could be someone’s years of livelihood. So…keep on cultivating.”
Regardless of the effectiveness of moon farming and its remuneration, it is certainly an easy second income to get up and running.
According to user Mr. Bob Ferguson, this is the first successful case of a reward system in the crypto world, there had been the BRICK case in the past for example but Moons seems to be more effective.
“The use cases for moons are slowly building beyond the initial ‘sub governance voting power’ to a new Moonplace.io site, and many are hoping that Reddit provides one more official integration, such as allowing the ‘use of the moons to purchase the popular Reddit Limited Edition Avatars (NFTs) in a future market.”
Market value
MOON’s price is €0.17 down 7% on the day today but comes from two golden months.
Since the beginning of the year, Moons has grown 73% and reached a trading volume of €107,795 per day.
Currently its market capitalization is low in the rankings (#3543) but the token is young and the outlook is bright.
