r/CryptoCurrency • u/jarins • May 13 '20
META Introducing r/CryptoCurrency Moons
UPDATE (6/1): You may notice some changes in the feature with the new iOS app release. We're working closely with Apple and will share updates as available.
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TL;DR: Moons are a new way for people to be rewarded for their contributions to r/CryptoCurrency. Claim your Moons in the new Vault section of the Reddit iOS or Android app! They represent ownership in the subreddit, they are tokens on the Ethereum blockchain controlled entirely by you, and they can be freely transferred, tipped, and spent in r/CryptoCurrency.
Today we’re launching a new feature in limited communities called Community Points. Community Points are a way for users to be rewarded for their contributions with a unit of ownership in their subreddit. Community Points can be earned, tipped, won, collected, and spent on unique items within a community. Each subreddit has its own stylization of Community Points, and the ones in r/CryptoCurrency are called Moons.
How do you get Moons?
Moons are distributed monthly based on individual contributions (comments, posts, etc.) that people make in r/CryptoCurrency. Reddit karma provides a basis for measuring people’s contribution, but the final decision is up to the community.
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.
What can you do with Moons?
Moons can be traded freely and used for any number of purposes within the community. At this time, they can be used to display reputation within the subreddit, unlock exclusive features like badges and GIFs in comments with a Special Membership, and add weight to votes in polls.
On the Blockchain
Moons exist as ERC-20 tokens on the Ethereum blockchain, where they are managed by a suite of smart contracts that handle balances, transfers, distribution/claiming, and purchasing Special Memberships. The smart contracts and mobile apps have been reviewed and audited by Trail of Bits, an independent security firm with blockchain expertise.
As blockchain tokens, Moons are independent of Reddit. Once you’ve earned them, neither Reddit nor moderators can take your Moons away or decide what you do with them. They’re all yours.
Community Points are currently on the Rinkeby testnet (through summer 2020). We plan to migrate Community Points to the Ethereum mainnet, and Points balances will be carried over.
Note: If you send Moons to outside non-Reddit wallets or contracts, you are sending them to testnet addresses. These tokens will not show up in outside software (e.g. wallet apps, Etherscan) unless you switch to Rinkeby and use the testnet Moons contract address (0xDF82c9014F127243CE1305DFE54151647d74B27A).
How to get started with your Reddit Vault
The first Moons will soon be distributed to every active contributor in the subreddit with at least 100 karma. You can get started by claiming your Moons in the new Vault section of the Reddit mobile app, which includes more details on the start-up process and how Moons work.
Please note that you will need to set up your Vault the first time you access it, and you will need to be on the latest version of the Reddit app (2020.17.0 or later). We will be rolling the Vault out over the course of the day, so if you don’t see it now, please check back later.
See the inspiration for Community Points and get started
Thank you r/CryptoCurrency
We are launching Community Points today in a couple of subreddits that have opted into this experiment and with whom we will be working closely. We are very excited to have you join us in this new beginning and we’re looking forward to seeing what ideas you have for Community Points. We’ll be sticking around to answer any questions you have, so please ask away in the comments below. Thank you!
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u/Oxygenjacket May 13 '20 edited May 13 '20
Damn! I wasn't expecting this to be out so quick.
330 million Reddit users getting an ethereum wallet.
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u/DOGECOlN May 14 '20
Ya, major props to reddit on this front. They are delivering even if it has some kinks. I got an ETH error trying to claim moons which seems to be an "insufficient gas" error since vaults don't seem to have any (testnet) ETH to withdraw their moons from the contract. But that's ok. Small kinks, still super excited. I'm glad they're rolling it out. As long as the contracts are audited (which they said they are, security first!) the small front end kinks/issues like gas stuff is just a minor hiccup. Really excited for this.
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u/drwasho May 14 '20
Might be worth adopting an Argent model where gas is paid for by Reddit.
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u/shinsyotta May 14 '20
I’d like to see all ERC20 tokens adopt the permit() function that DAI uses.
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u/slay_the_beast May 14 '20
Here’s two $MOON to get you started! Pass one along to pay it forward? The process is super slick. In the reddit mobile app (on iOS at least) just tap on the moon next to a username.
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u/cblukraine86 May 14 '20
This is exciting to see an already successful application adopting crypto, rather than a crypto trying to become a successful application. The real question is...will my moons moon?
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u/DOGECOlN May 14 '20
100% agreed on all counts. I am already thinking of creating dapps around moon tokens. I'm probably not the only person!
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u/slay_the_beast May 14 '20
Here’s two $MOON to get you started! Pass one along to pay it forward? The process is super slick. In the reddit mobile app (on iOS at least) just tap on the moon next to a username.
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u/dunno-what-name May 14 '20
Yeah it’s pretty sweet tbh! Instant huge exposure.
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u/slay_the_beast May 14 '20
Here’s two $MOON to get you started! Pass one along to pay it forward? The process is super slick. In the reddit mobile app (on iOS at least) just tap on the moon next to a username.
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u/StreetFighter100 May 19 '20
just found out about this from robinhood's snacks newsletter today, joined this sub and now am reading about it.
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u/Damien_Targaryen May 14 '20
SO FUCKING BULLISH. SEND ETH TO THE MOON! 🚀
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u/magicturtle12 May 14 '20
MOON TO THE MOON 🌝
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u/slay_the_beast May 14 '20
Here’s two $MOON to get you started! Pass one along to pay it forward? The process is super slick. In the reddit mobile app (on iOS at least) just tap on the moon next to a username.
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u/magicturtle12 May 15 '20
Unfortunately when I tap the moon icon next to Username on android it just pops up the user profile window, and I don't see a tip button... I might be missing something
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u/abhi_crow May 14 '20
Good old days where ETH was gaining no matter what because it was a mother of all chains
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u/thelionshire May 14 '20
Yeah, this is definitely cool and a great way to bring crypto to mainstream users! Interested to see how it turns out - hopefully it can grow to other topics and platforms when proven successful!
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u/slay_the_beast May 14 '20
Here’s two $MOON to get you started! Pass one along to pay it forward? The process is super slick. In the reddit mobile app (on iOS at least) just tap on the moon next to a username.
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u/CryptoCrackLord May 14 '20
First time I’ve even heard about it. This is seriously good for crypto adoption. Having a wallet in so many peoples hands is amazing
This must be the most mainstream usage of a blockchain yet.
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May 14 '20
Not really, only cryptocurrency sub will create a vault, but still great stuff
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u/dumplingcompromise May 14 '20
I was under the impressions this sub was anti-eth?
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u/slay_the_beast May 14 '20
Hard to be anti-ETH when you’re getting paid on Ethereum.
Here’s two $MOON to get you started! Pass one along to pay it forward? The process is super slick. In the reddit mobile app (on iOS at least) just tap on the moon next to a username.
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u/Xexr May 14 '20
This is super cool and directly injects crypto currency principles and language into the reddit user base.
An ethereum wallet for all without everyone necessarily understanding they have one is the kind of abstraction I always thought would be part of the mass adoption journey.
Launching on test net first seems sensible but I do wonder how this will work at scale on main net, especially as it seems every transaction is on chain from what I can see. Are rollups feasible?
Finally, I’d love to know what the long term plan for gas payments is. Surely Reddit can’t support that cost forever? Maybe they’ll auto covert a portion of the 20% of each subs token each month to eth to fund a gas pool. Requires some of the sub tokens to ascribe real value to work though.
Loved the UX experience, beautiful art, easy to understand. Great FAQ too.
So many questions but such a cool experiment. Congrats to all involved.
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u/adotjdott May 14 '20
More like 1 million since it’s only this sub. But yes exciting developments nonetheless!
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u/slay_the_beast May 14 '20
Here’s two $MOON to get you started! Pass one along to pay it forward? The process is super slick. In the reddit mobile app (on iOS at least) just tap on the moon next to a username.
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u/AdamSC1 May 13 '20 edited May 13 '20
TL;DR - What are community points?
Reddit Community Points is a new point system launching in select subreddits.
Users earn these points based on their contributions to Reddit, and can redeem them for various rewards.
Each community has their own points. Today r/Cryptocurrency is launching "Moons" and r/FortniteBR is launching "Bricks"
These points exist as blockchain tokens on the Ethereum blockchain (although the are on a test network for now).
If you need an additional support you can check out the unofficial support community r/CommunityPointsHelp
FAQS
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[FAQ - French] Sujet FAQ sur les points communautaires - Français
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[FAQ - Spanish] Preguntas frecuentes sobre los puntos de la comunidad - español
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[FAQ - Portuguese] Perguntas freqüentes sobre pontos da comunidade - Português
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[FAQ - German] Häufig gestellte Fragen zu Community-Punkten - Deutsch
Detailed Threads:
What Are Community Points?
What is a blockchain/cryptocurrency?
How to I Create My Reddit Vault?
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[French] Comment créer mon portefeuille Reddit /coffre-fort Reddit?
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[German] Wie erstelle ich meine Reddit Wallet / Reddit Vault?
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[Russian] Как мне создать свой Reddit Wallet / Reddit Vault?
How do I connect my Reddit Community Points Vault to Brave Browser?
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[English] How do I connect my Reddit Community Points Vault to Brave Browser?
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[French] Comment connecter mon coffre-fort de points de communauté Reddit à Brave Browser?
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[Spanish] ¿Cómo conecto mi Reddit Community Points Vault a Brave Browser?
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[Portuguese] Como conecto meu cofre de pontos da comunidade do Reddit ao navegador Brave?
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[German] Wie verbinde ich meinen Reddit Community Points Vault mit Brave Browser?
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[Russian] Как подключить мое хранилище очков сообщества Reddit к Brave Browser?
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[Korean] Reddit Community Points Vault를 Brave Browser에 어떻게 연결합니까?
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[Japanese] Reddit Community Points VaultをBrave Browserに接続するにはどうすればよいですか？
How can I Transfer My Reddit Community Points to MetaMask?
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[English] How can I Transfer My Reddit Community Points to MetaMask?
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[Other languages coming soon]
How can I use an existing Ethereum Wallet for my Reddit Vault?
Where can I get more support?
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Check out r/CommunityPointsHelp for an unofficial community points support community.
Where can I trade community points?
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Since Community Points are on Ethereum's test network, you won't be able to trade them on exchanges to start.
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u/zert_y5332 May 14 '20
Holy sweet baby Jesus! This just gave me wowsers in my trousers! Can't wait for the live version, I'm in 100%
Great Job!
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u/BitJunky7 May 14 '20
How do I go about providing Hindi translations for the above articles?
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u/AdamSC1 May 14 '20
Translate them in a Google doc and PM me the links - I'll check them with other native Hindi speakers for validity and then post them.
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u/kaibakker May 13 '20
This is good for ethereum. Does anyone think the $bricks will take off?
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u/AdamSC1 May 14 '20
Bricks have more than 10x the engagement of moons so far despite the same amount of users
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u/ethrevolution May 14 '20
Hot damn that's a crazy spread.
GenZ will be the ones that carry us to world domination!→ More replies (2)1
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u/SwagtimusPrime May 13 '20
Little kids gonna eat this up for sure. Gotta have the new shiny thing
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u/CanWeTalkEth May 14 '20
And the good thing is that when their parents get pissed, they can actually utilize the In App Purchases their shit spawns have made.
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u/Rhamni May 14 '20
I don't remember ever commenting on the Fortenite sub, and I certainly never played the game, but I somehow got 40 Bricks, so I feel confident saying yes definitely moon lambo Fortnite dance when?
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u/PierrickGT5 May 14 '20
You must have cause I haven’t been commenting either in both of those subs and I didn’t get any tokens yet.
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u/jwinterm May 14 '20
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u/CryptoMaximalist May 14 '20
lol the end of that video is great. Well worth the wait
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u/AiryAndreGrande May 14 '20
How do you add gifs?
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u/jwinterm May 14 '20
You have to buy membership for 1000 moons then you can use gifs and animated emojis
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u/IAmNocturneAMA May 13 '20
Awesome I got 3.8k moons! pls dont hack me for my moons
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u/PocketSandThroatKick May 14 '20
Just tried to figure out how to tip you another 1 but couldnt. Back to the FAQ for me.
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u/IAmNocturneAMA May 14 '20
There is a send button in the vault on the reddit app where you can enter a username or eth address
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u/I_pro May 14 '20
I think I will. Do you please wish to send me your vault recovery key playes? plz. please my kids need to eat, and they are only eating rocks. They can't hold on without your moons. You have 24 hours.
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u/Maxfunky May 14 '20
Hey I can help you protect those moons. What's your phone number? We should talk this through. By the way, if your phone loses service suddenly, it's because the solar storm. Just go to sleep and it'll fix itself overnight. It's fine.
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u/aSchizophrenicCat May 13 '20
Woahhh, this is too cool! I was sad when you took away btc payments for reddit gold, but you all have been doing some real interesting work with integrating erc20 token into this site. Love it!
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u/jpreddit200 May 14 '20
If we can all just stand back for a second and look at this objectively. This is adoption, this is what it looks like, it's slow, it's underappreciated and it's doubted and clunky.
If someone had told me in 2017 that 3 years from now everyone on the subreddit r/Cryptocurrency would have an ETH address, an ERC20 utility token called 'Moons' with visible transaction hashes and tips on how to integrate with Brave Browser which uses basic attention token (BAT) I honestly wouldn't have believed you.
I'm not a moon boy, but this is downright bullish developments IMO.
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May 14 '20
The vision 10 years ago was to incorporate everything finance and many things non-financial. We are still right on track, and there is no stopping this train.
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u/Gossipmang May 14 '20
Alternatively I'm surprised it took years for these minor crypto uses to be developed. Companies were getting millions of funding in 2018 and just squandered it.
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May 14 '20
I've been on the ETH wagon more than BTC. I really want this technology to grow and change a fundamental way we own digital property.
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u/nanolucas May 15 '20
Fully agree, any and all mass adoption is exactly what is needed to take crypto into the mainstream and ETH as a base layer is something I've always been very interested in.
Even if Moons are just a silly novelty, it still contributes to the space in a meaningful way!
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u/nokettle May 14 '20
What. R/ethtrader had donuts a couple of years ago. And yet somehow you find it unbelievable?
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u/jpreddit200 May 14 '20
Random ETH sub vs entire r/cryptocurrency sub with full official backing from reddit + mods + vault function is a completely different ball game.
It means reddit have actively decided that in this instance the cryptocurrency ETH and their ERC20 token standard is the best tool for the job, it proves that cryotocurrencies can not only be used in real life, thus creating genuine utility, but they also were the best choice for the job.
You hear these 'partnerships this and partnerships that' how many of them can actually be verified? Most are just pumped out in news to time it with a TA MA crossover or something for someone to make a quick buck.
This is real use case, real users, real platform. It's exciting and encouraging.
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u/Jake123194 May 14 '20
Pretty sure the ethtrader donuts had the backing from reddit mods aswell, it was likely a trial run for reddit for this. In fact if you go to the how to access via metamask link up top it shows them in a picture example.
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u/jpreddit200 May 14 '20
Ok I concede, none of this is bullish, productive or positive. It has all been done before with donuts and crypto is never going to be adopted and none of this is worth celebrating.
Are we satisfied now?
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u/_o__0_ May 14 '20
For sure.
I could not be less interested personally, or, more bullish on what it signifies.1
May 17 '20
Dude ETH bringing REAL VALUE! History in the making! Not just speculation but bringing real demand for crypto not just to make money. If this token is successful it can be integrated in many other platforms easily and it can become THE internet money! Reddit is huge and can really bring crypto ti the masses!
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u/Sunny_Yellowstone May 13 '20
The 2020’s are going to be wild. We’re just getting started.
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u/Chyeadeed May 13 '20
Thats a lot to read. Will it be withdrawable? Maybe traded on uniswap?
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u/AdamSC1 May 13 '20
In the beta it's on Rinkeby test network so not currently.
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u/Archiver_test4 May 14 '20
What would happen to the ones earned by people in beta on testnet? Would they be given 1:1 or what? How would reddit value a single "token"/moon or whatever at launch? I had made a a bunch of comments back when this was all a rumor, things are looking as they probably should be. My question still remains, how would, once out of beta, reddit decide the tokens are worth something. ? I was unable to find if we could buy them when out of beta, second, would they be tradeable on an exchange?
Finally, is it an opt in for a community or reddit decides which subs get the feature for now?
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u/uniswap May 14 '20
Happy to set up an interface for swapping between Rinkeby ETH, MOONS, and BRICKS for people to play around with :)
Need some MOONS first though!
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u/BurlsteinBurl May 14 '20
Hello Crypto community, I am a moderator of r/FortniteBR, the other subreddit to receive this launch today.
The few people I have interacted with from this subreddit have already left a positive impression on me! As non-experts, us mods there can only provide basic information on how this stuff works.
So if you have visited, or plan to visit our subreddit, thank you! We have a very active user base, and it will be fun to see the future of this project.
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u/redredditor May 14 '20
Just mooned you! (twice) See if you can moon someone else.
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u/BurlsteinBurl May 14 '20
Thanks! I was able to! I also sent you some bricks for r/FortniteBR
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u/Confucius_said May 14 '20
This is amazing! Long time subscriber to r/Ethereum and r/ethfinance. Happy to see this being rolled out.
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u/R4ID May 14 '20
whats up with your first "vault" link taking me to a 7 year old post on IWTL?
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u/Spacesider May 14 '20
You're probably using old Reddit
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u/_o__0_ May 15 '20
Wow, how crazy was that redesign that a root link now will lead to a particular random old post? That is more fucked up than I knew websites could get.
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May 14 '20
Welcome to the Ethereum ecosystem everyone! Find out more about how Moons work as an ERC-20 token over at r/ethfinance as most of us had experience with tokenised karma before.
Doesn't hurt to be Ethereum's most active subreddit as well. We're a pretty open-minded bunch so feel free to hop on!
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u/aminok May 15 '20
Or head to the largest Ethereum investment/trading forum, r/EthTrader, which actually has tokenized community points, called donuts, which are the first tokenized community points implementation, and which were developed by the subreddit's top mod.
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u/Tristan49 May 14 '20
This is an awesome way to get individuals onboarded to Ethereum - most will probably not even realize they are using blockchain. Looks like gas fees will be paid for by Reddit for the time being, great move as paying these fees would complicate the end-user process.
Well done everyone!
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u/slay_the_beast May 14 '20
Here’s two $MOON to get you started! Pass one along to pay it forward? The process is super slick. In the reddit mobile app (on iOS at least) just tap on the moon next to a username.
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u/HumbleAbility May 14 '20
Not really super familiar with ethereum but I heard crypto kitties bogged down ethereum back in the day. It sounds to me like this could create a ton of network usage. Is ethereum ready to handle this in prime time?
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u/HumbleAbility May 14 '20
Not really super familiar with ethereum but I heard crypto kitties bogged down ethereum back in the day. It sounds to me like this could create a ton of network usage. Is ethereum ready to handle this in prime time?
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u/munkybone May 15 '20
Honestly, this is finally pushing me to look into it. I have read about it for years and never took the leap.
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u/leongaban May 14 '20
This is so awesome! Thanks Reddit! Btw the kids on fortnite are all swagged out lol, and we got 1 guy with a gif username here... just proving a thesis that it will be gen z pushing the early mass adoption.
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u/randomnomber May 14 '20
I'm getting r/ethtrader donuts flashbacks.
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u/AdamSC1 May 14 '20
As someone who was an r/ethtrader mod during that rollout I assure you we’ve ironed out the issues
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u/SamsungGalaxyPlayer May 14 '20
We've worked closely with (and continue to work with) the Reddit admins to overcome many of those initial hurdles.
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u/Xenc May 14 '20
What we see here is an entirely different beast, and the culmination of multiple experiments by Reddit.
This is the winning combination.
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u/BankOfShitcoin May 14 '20
Just set up my Vault and got 385 free Moons, woohoo (rocket emoji)
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May 14 '20
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u/BankOfShitcoin May 15 '20
Did you set up your Vault through the Reddit mobile app?
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May 14 '20
Oh, my, God! I knew this was coming but I didn't expect reddit to be so damn quick! Amazing!
Now then, are we all going to become rich thanks to reddit?
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u/siddartha1492 May 14 '20
Ah, why vault is not on website. But a good way to increase app installs.
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u/brianddk May 15 '20 edited May 15 '20
Quick howto for those who want to know. To see your tokens... do the following
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When setting up the Vault choose "Backup manually"
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Record the 12 word seed
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Load it into a spare Trezor or KeepKey or whatever
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Go to
MyEtherWallet -
Choose "Access my wallet"
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Select "Hardware", "Trezor", "Continue", "Allow" "Export"
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In the "Network and Address" dialog click "(1) Network" (at the top)
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Choose
myetherwallet.comunder RIN -
Click "(2) Address"
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Select the first entry under "HD Derivation (m/44'/60'/0'/0)"
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Note your derivation as
m/44'/60'/0'/0/0for your records -
Choose "Accept Terms" and "Allow Access"
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Choose "+ Custom Tokens" on the right
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In the "Add Custom Tokens" interface fill in the desired data
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Fill in
0xDF82c9014F127243CE1305DFE54151647d74B27Aas token address -
Fill in
MOONas token symbol -
Fill in
18as decimal places
Congratulations... you can now view MOONs. If you want to fling them around you will need to get some RIN (Eth-Test) in your wallet. If you search for Rinkey faucets you find a bunch of hits (and a bunch of spam). Since Rinkey is testnet, most of the faucets do pay out, but please don't pay real money for any.
As a Rinkey token the MOONs are (by design) of no redeemable value. But this is a great addition and the fact that they used standardized ERC20 contracts and standard derivations are really friggin awesome!
I'll add MOONs to my list of accepted tips in my reddit profile tipjar.
Way to go guys!
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u/tigeer May 13 '20
I'm very skeptical about this.
Anyone who's been on Reddit for long enough knows that those who gain the most karma are just serial reposters and do little for the quality of the content here.
I fear if this is rolled out to more subreddits it will incentivise karma whores even further.
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u/LargeSnorlax May 14 '20
There aren't many reposters on r/cryptocurrency, so this seems like a pretty good place for it.
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u/jarins May 13 '20 edited May 14 '20
We're still in the process of getting it all rolled out, so some links in the post may not work right now. I will edit this comment when everything is live!
EDIT: Everything is rolled out now!