Social Giant Reddit Launches New Cryptocurrency on Ethereum

Reddit has launched a new cryptocurrency on the Ethereum blockchain, it seems – it’s dubbed “Moon”

Social Giant Reddit Launches New Cryptocurrency on Ethereum

“Moons are ERC-20 tokens issued on the Ethereum blockchain. They can be transferred, tipped and spent in the subreddit through Reddit’s iOS or Android app.

Reddit says Moons are decentralized and not controlled by Reddit or community moderators, so users can have true ownership of their assets.

‘Initially, 50 million Moons will be distributed based on karma earned in the subreddit to date. The amount distributed each following month will start at 5 million and decrease by 2.5% every cycle, so that the total number of Moons distributed over time will approach a maximum cap of 250 million.'”

https://dailyhodl.com/2020/05/14/social-giant-reddit-launches-new-cryptocurrency-on-ethereum/

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