MOON Token Surges 150% Amid Increased Project Decentralization
The value of the MOON token (Moons) has dramatically soared by over 150% following an announcement by the moderators of the r/cryptocurrency community on Reddit. They revealed a plan for complete decentralization and a major overhaul of the project’s strategy, moving away from the inflationary model.
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The value of the MOON token (Moons) has dramatically soared by over 150%
following an announcement by the moderators of the r/cryptocurrency
community on Reddit. They revealed a plan for complete decentralization
and a major overhaul of the project's strategy, moving away from the
inflationary model.
Developers
plan to cap the token supply at 83 million by burning a portion of the
coins and discontinuing the smart contract. This means no one will be
able to increase the token's issuance or make any alterations to its
settings. However, MOON's trading on cryptocurrency exchanges and other
functionalities will remain intact.
“Effectively no one will have control of the contract. Not Reddit, not the mod team,” the moderators clarified.
In
addition, they promised to engage more actively with the community and
enhance MOON's utility on the platform, including integration with bots.
These changes follow Reddit's termination of its crypto reward program
in October 2023, which led to a sharp 75% drop in the token's price.
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