What Are Reddit Moons? A Guide
I’ve spent a ton of time answering questions with all the new interest, decided to put more info into a full post:
- To earn/store moons you will need to download the reddit mobile app and set up your vault (click on your icon at the top left of the home page). Then you can login to your vault on web once it’s set up.
- You earn moons with karma in the community, once a month Reddit submits a list of contributors to the subreddit in order of karma to see who gets what percentage of the issuance. The issuance is scheduled to be 5,000,000 per month dropping 2.5% each month until a max supply of 250,000,000 is hit (including burned moons). Reddit keeps 20%, the mods get 10%, and 20% is reserved for the broader reddit community with the remaining 50% being distributed to contributors.
- The main purpose for moons is to own a share of the community (vote on governance/distribution proposals) as well as redeem them for the premium membership, which allows you to change the color of your username, embed gifs in comments, add custom flair, etc. That costs $5 per month/1,000 moons per month in our sub or 500 bricks per month in r/FortNiteBR. They also want us to trade them within the community and eventually on uniswap or idex once they transition to mainnet.
- People can also tip you moons directly if they like your comment/post. To tip a user just hit the moon icon next to their username and put the amount of moons you want to send (this feature was removed on iOS because Apple sucks). Another way to tip moons is to go to your vault and hit the send button at the top right, input the username you want to tip + the amount of moons you want to tip and hit send.
- You can’t buy moons from reddit (there are some exchanges to buy through like HoneySwap and kuyumcu). When you use your moons to buy premium they are burned (half of burned pool is introduced in each issuance period).
If you buy premium with cash Reddit will burn moons on your behalfThis feature may have been axed as it is no longer in the FAQ and there doesn’t seem to be an admin wallet burning moons on users behalf.
- Moons are now redeemable for coins at a rate of 40 moons/100 coins
- Reddit launched the great scaling bake off & proposals are under review. OMG network, the Raiden team and many others submitted scaling solutions to reddit for review.
- The scaling bake off has resulted in Reddit partnering with the Ethereum foundation to accelerate scaling solutions for community points and for other integrations of ETH into reddit. It appears Reddit is still focused on a L2 approach