Ever since Reddit Sunset the Community Point Program – it seems like Moons have been in stasis with the CC community waiting to find out what will happen to our favorite community token.

Despite that stasis the Crypto Market keeps moving forward and Moons are down ~84% against Bitcoin since they were listed on Kraken.

https://preview.redd.it/ni5ln4w5ii7c1.png?width=941&format=png&auto=webp&s=8780a71f5573945588c80bd6a83ae7920b23793c

Of course that's understandable as Moons lost their brand backing when Reddit began to back out of Web 3.

However it's important to know that Moons were not successful just because of Reddits Brand Backing, instead Moons have a functioning Ecosystem with 2M, ~$250K (at current price) worth of Moons burned so far this year – and 1M, ~$125K being a direct result of Ecosystem utility (Banners/AMAs/etc..).

https://preview.redd.it/z1ron3ucki7c1.png?width=1837&format=png&auto=webp&s=9f1f4b2537e278c5851c95a772bdb3ab187ec24c

——————————-

Recap since Sunset

To Recap the last two months since Reddit sunset the Moons Program here is what has happened:

• Circulating Supply of Moons drops from 126M to 82.3M a 35% decrease as Reddit destroyed their biggest Moon Wallets.
• Reddit Burned the token contract making Moons a truly Decentralized Crypto, since no one controls the contract.
• CCMods announced that Governance is continuing through Snapshot.org with a number of future Governance Polls to be announced in the near future.
• Talks are ongoing about Distributions returning and what that would look like.

Per /u/jwinterm mods are taking their time to make sure they have everything set up to independently and legally continue implementing Moon distributions back into the CC sub.

https://preview.redd.it/wguztckqqi7c1.png?width=1418&format=png&auto=webp&s=c2dec2e5989754133a770cef35ed4a448b7eac98

——————————-

Pros/Cons of the State of Moons

Pros:

• Moons are Hard Capped at ~82.3M Moons with ~2M of those in a Dead wallet.
  • No new Moons can ever be minted, but we can continue to burn Moons.
• Since the supply is capped any Moons Burned for Ecosystem Utility (Banners/AMAs) make the token deflationary.
• Moons are still a governance token for the most popular Crypto Hub on the Internet.
• Distributions returning will bring a lot of attention back to the sub, as people love to participate and earn Crypto even if the ability to earn Moons is at a very reduced level.
• Moons developed a Functioning Ecosystem before sunset that can be continued moving forward, and that will really heat up in the next Bull Run.

Cons:

• Although Moons are independent and decentralized the ecosystem itself relies on CC moderators to continue.
  • Mods have repeatedly said they plan on continuing development of the Moon Ecosystem
• Although we're now Decentralized, no longer having Reddits brand backing may make some people hesitant to look at Moons.

—————-

Although we are still waiting on CC Moderators to continue rolling out and announcing updates regarding the future of Moons, I believe the future of our beloved token looks bright.

Fun Fact: Moons weren't a unique idea by Reddit – The concept of Social Fi was actually proposed by Vitalik Buterin /u/vbuterin back in 2012.

https://np.reddit.com/r/Bitcoin/comments/14w2wo/come_get_some_free_bitcoins/c7gztw3/?context=1