Reddit’s MOON cryptocurrency surges 200% after platform’s terms of service tweak

2023-7-18 15:02

Reddit’s MOON, the community token for the r/cryptocurrency subreddit, rose by 62% in the last 24 hours after the social media platform changed its term of service to allow the points to be traded.

According to Coingecko data, the digital asset’s value jumped by nearly 200% during the past week, rising from around $0.09 to $0.278 at the time of writing.

MOON is an Ethereum (ETH)-based token built on the layer2 network, Arbitrum (ARB) Nova. The digital asset can be used to purchase premium features on the subreddit and tip individual contributions to the community.

Reddit’s changed ToS?

Reddit has changed its terms of service (ToS) to allow its users to “earn, claim, purchase, sell, or give certain virtual avatars, goods, currencies, or items that can be cryptographically verified.” The unofficial account for r/Cryptocurrency MOONs on Twitter first spotted the changed ToS.

CoinGecko co-founder Bobby Ong pointed out that the changed terms of services make a clear distinction between Virtual Goods such as Coins and Awards and Verified Virtual Goods like Avatar and Community Points.

Reddit is now allowing users to trade web3 tokens like community points. While Reddit’s community points have always been tradable, it has been difficult for users to trade the tokens within the Reddit app.

Ong noted that those who want to trade Reddit Digital Collectibles previously went through a process of exporting the private key for their Reddit wallet to another crypto wallet and trading the community points on Arbitrum Nova DEX.

The recent change to the ToS has increased speculations that Reddit might be fully embracing web3 tokens. Considering that it is sunsetting one of its sources of revenue in Reddit Coins, many expect it will have to find another source to make money. Reddit Coins, non-blockchain digital tokens used on the platform for rewarding other users, are set to be discontinued by September as a part of this change.

Ong speculated that Reddit might “embrace Web3 and incorporate DEX natively,” the social media platform might even decide to “roll out community points to more subreddits.”

The post Reddit’s MOON cryptocurrency surges 200% after platform’s terms of service tweak appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Speed Mining Service (SMS) на Currencies.ru

$ 1.9622 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $1.9622 - H: $1.9622
Капитализация $205.406k Rank 99999
Доступно / Всего 104.68k SMS

service reddit platform cryptocurrency moon hours social

Источник: cryptoslate.com

service reddit → Результатов: 33


Фото:

Crypto Service Providers Accused Of Locking User Funds and Poor Customer Support 

Voyager Digital Ltd, a publicly traded holding firm with subsidiaries that operate a licensed crypto trading platform, has been accused by some of offering poor customer support. Users in An Uproar One Reddit user accused the crypto service provider of delaying his withdrawal request for nearly three weeks. He added that his plea for helpRead More

2021-4-21 13:01


Torus Rolls Out 1-Click Logins To Decentralized Apps With Gmail, Facebook, and Reddit

The key-management startup that offers one-click logins to decentralized apps (dapps) Torus has announced it has new partners for its Web 3.0 product. Joining Torus, those that will run nodes to support the decentralized login system are going to be Binance, Etherscan, Ethereum Name Service (ENS), Ontology, Ziliqa, Skale, Matic Network and Tendermint Core. Web […]

2020-2-13 21:17


In-person meatspace protocol to prove unconditional possession of a private key

Recommended pre-reading: https://ethresear. ch/t/minimal-anti-collusion-infrastructure/5413 Alice slowly walks down the old, dusty stairs of the building into the basement. She thinks wistfully of the old days, when quadratic-voting in the World Collective Market was a much simpler process of linking her public key to a twitter account and opening up metamask to start firing off votes.

2019-10-2 04:03


On Collusion

Special thanks to Glen Weyl, Phil Daian and Jinglan Wang for review Over the last few years there has been an increasing interest in using deliberately engineered economic incentives and mechanism design to align behavior of participants in various contexts.

2019-4-5 04:03


Фото:

AMA With Origin Team Reveals Plans for Decentralized Sharing Economy

Matt Liu, Josh Fraser and former PayPal head Yu Pan want to bring the blockchain to the sharing economy. The trio is devising a platform with an emphasis on inclusive, peer-to-peer service hubs designed to decentralize the same consumer cost-friendly business models that have made companies like Airbnb, Uber and Lyft so popular in recent years.

2018-8-16 23:25


Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Reddit Cashes Out: SEC Filing Reveals Major Bitcoin Sell-Off Last Month

According to filings with the Securities and Exchange Commission (SEC), Reddit, the popular discussion forum and online community, has sold most of its crypto holdings. In its SEC FORM 10-Q filing, the company disclosed the sale of three digital assets, including Bitcoin and Ether.