Reddit's r/Cryptocurrency Moons Soar 130% as Moderators Announce Supply Cap and Decentralization Plans
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Moons, the token of Reddit’s r/cryptocurrency community, surged over 130% as moderators announced a “plan forward” to impose a hard cap on supply.
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Moderators said Reddit will renounce the Moons contract by end of month, making Moons decentralized.
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Remaining Moons in Community Tank will be burned, reducing total supply to 83 million.
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Moderators will work with community to distribute remaining Moons and determine treatment of future earned Moons.
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Moderators will continue developing bots to improve Moons' utility, including showing user balances and enabling tipping.