Reddit Token Moon Rockets 10% As Reddit Renounces Token Contract

Crypto subreddit r/CryptoCurrency’s token MOON surged more than 10% after the mod team renounced token contract.
Reddit Token Moon Rockets 10% As Reddit Renounces Token Contract

Since the Reddit admin abandoned the new token contract, MOON, the native token of the r/CryptoCurrency community, has increased by double digits over the last day. The team burnt down their 98,000 MOON by renunciation, bringing the total token supply down to 83 million.

Changes made as part of the contract upgrade include the removal of the option to mint additional MOON tokens and the creation of an immutable new contract that cannot be altered. Exchanges will still be able to list and trade MOON as normal.

Moons update: Reddit has officially renounced the Moons contract
byu/CryptoMods inCryptoCurrency

In the post, MODs stated, “The mod team will continue to work on bringing back and improving features like memberships, governance, and tipping.” “We’re also considering restarting distribution, though it’s unclear exactly how that will operate.”

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