Ethereum

Reddit

Metamask

Moon

<p>The native token of the popular online community <a href="https://captainaltcoin.com/reddit-moons/" target="_blank" rel="noopener noreferrer nofollow">Reddit, known as MOONs</a>, has seen a sharp surge in its value over the past 24 hours, with the price more than doubling from $0.09 to $0.20 before consolidating. This price movement follows an update to Reddit’s Terms of Service (ToS) that allows for the free trading of MOONs and other digital assets issued on the platform.</p> 
<p>MOONs, originally conceived as an experimental method of rewarding user engagement in subreddits such as R/Cryptocurrency, live on the blockchain. In this ecosystem, user contributions can earn points in the form of tokens. Thanks to Reddit’s recent decision to utilize Arbitrum’s Nova network, users can now independently trade MOONs on decentralized exchanges (DEXes) like SushiSwap.</p> 
<p>Reddit’s previous ToS, which prohibited the trading of asset rewards received by users, presented a roadblock for exchanges interested in listing MOONs. Violating these terms would have resulted in possible legal action from Reddit. Hence, users interested in trading MOONs had to traverse a complex process involving setting up a Web3 wallet, copying seedphrases, and connecting to Nova, among other steps.</p> 
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<p>The new policy adjustment, however, allows users to trade MOONs more freely. It also potentially paves the way for crypto exchanges to list MOONs for trading. According to Michael, such a listing would likely attract exchanges looking to boost their volumes.</p> 
<p>Moreover, the potential user base for this native token is quite substantial. Reddit’s R/Cryptocurrency community, for instance, currently boasts over 6.6 million users. A listing of the token would potentially enable these users to trade MOONs directly on crypto exchanges.</p> 
<p>Adding to the speculation of a possible listing is a recent hint from a Kraken customer support agent, who suggested that the team would be updated on these latest developments.</p> 
<p>However, it’s crucial to note that these are speculative assertions. As Michael pointed out, the volatile and rapidly-evolving nature of the crypto space means situations can change quickly.</p> 
<p>The listing of MOONs on top-tier exchanges, while currently unconfirmed, presents an exciting possibility for the future of Reddit’s native token. With this development, Reddit is one step closer to further integrating blockchain technology into its platform, which could redefine the way users interact with the website and each other.</p> 
<h2 class="wp-block-heading" id="how-do-you-earn-moons">How Do You Earn MOONs:</h2> 
<p>Moons are distributed monthly according to each user’s contributions within the r/Cryptocurrency community(posts,comments,etc..). Users will earn moons based on the karma points they accumulated during each month, but the final decision is up to the community.</p> 
<p>In order to check the current price of the Moon token, visit <a href="https://www.coingecko.com/en/coins/moon" target="_blank" rel="noopener noreferrer nofollow">https://www.coingecko.com/en/coins/moon</a></p> 
<h2 class="wp-block-heading" id="buy-and-sell-moons-converting-moon-into-dai-and-usd">Buy and Sell Moons – Converting MOON into DAI (and USD) </h2> 
<p>Transfer your Moons from the Reddit Vault to your Metamask wallet:<img decoding="async" loading="lazy" width="398" height="858.1681528662419" src="https://lh5.googleusercontent.com/agJuoNRrEG-qgP6pQz6nYUFFG6dael4VHIcBJJPRIb54ed5DEqFo-9hwN4m6MBk-K8efkVUcNDKW2qRrOT1Ib9GnW2K6jN_H1tW-pAzENvv11ArIYhjxHI1ztuNrePtkVuMp5AUt=s0"></p> 
<p>In order to transfer your Moons to metamask, you need to get the recovery phrase provided in your vault. You can access your vault in your Reddit mobile app.</p> 
<p>Now proceed to make your vault by pressing on your profile picture and pressing “vault” on the menu.</p> 
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 <img decoding="async" src="https://lh4.googleusercontent.com/Kjea5DrSi04Ppl7h2OF8_xTg4UiHPyo5A7R1DVrJyRTrTXL24lOKU9Uvz6Q_DdV0M3Fi4T9JC5f4mv2FeXTALopxjaNLhafW3oRvjri1vdEZ_vz4AxElgHZwliPxuWIdh7DHMWqj=s0" alt=""> 
</figure> 
<p>Follow the steps provided by reddit to set up your Reddit vault.</p> 
<p>Reddit will ask you whether you would like to make a reddit backup of your vault or a manual backup. Feel free to choose any of those options.</p> 
<p>In case you choose the “manual backup” option, make sure to save the 12-word recovery key that will be displayed.</p> 
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 <img decoding="async" src="https://lh6.googleusercontent.com/NfwoJBKmQKWtReGloSCeyDISEL0FRFIefJQjzDet6RNsd_D66jByiIpEKYzaKX63x1eZ7RXetgG8cwWuzsvgyUp53vULhcasxP7AUQLfrpqmgGQSAItF94w9jir5V81otq04R5yS=s0" alt=""> 
</figure> 
<p>Once you have your recovery phrase copied, goto <a href="https://captainaltcoin.com/use-metamask-guide/" target="_blank" rel="noopener noreferrer nofollow">your Metamask wallet</a> and select the “Import account” option.</p> 
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<p>You will now be prompted to enter in your 12-word Reddit vault recovery key you saved earlier.&nbsp;</p> 
<p>Once you have entered it, switch networks on Metamask from the “Ethereum network” to “ Rinkeby testnet”.</p> 
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 <img decoding="async" src="https://lh6.googleusercontent.com/l99TQVWRq3pcrFtry1khhu3n94weXLs_Fhy5urTrtsNA8o2z2Wl2IAl4BIS-QtoIiwWeNxa4MeCux_5IbyCTRtuBskGkoK3SPHagOHGtqPFsrqfFIXkD4W2ELbIzepmYyi5DbZ92=s0" alt=""> 
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<p>Please note that your moons won’t be immediately visible, you still need to add the Moon token as a custom token on Metamask.</p> 
<h3 class="wp-block-heading" id="seeing-your-moons-in-your-metamask-wallet">Seeing your Moons in your Metamask wallet:</h3> 
<p>In order to see and track your Moon balances, click the “add token option in the bottom left corner of your wallet.&nbsp;</p> 
<figure class="wp-block-image size-large is-resized"> 
 <img decoding="async" loading="lazy" src="https://captainaltcoin.com/wp-content/uploads/2022/05/image-24-1024x754.png" alt="" class="wp-image-142573" width="282" height="207" srcset="https://captainaltcoin.com/wp-content/uploads/2022/05/image-24-1024x754.png 1024w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-24-300x221.png 300w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-24-767x565.png 767w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-24-1536x1132.png 1536w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-24-2048x1509.png 2048w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-24-204x150.png 204w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-24-100x74.png 100w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-24-475x350.png 475w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-24-788x580.png 788w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-24.png 357w" sizes="(max-width: 282px) 100vw, 282px"> 
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<p>Proceed with adding the Moon token by specifying its contract address, symbol and decimals of precision:</p> 
<p>Token contract address: <a href="https://rinkeby.etherscan.io/token/0xDF82c9014F127243CE1305DFE54151647d74B27A" target="_blank" rel="noopener noreferrer nofollow">0xDF82c9014F127243CE1305DFE54151647d74B27A</a></p> 
<p>Token symbol: MOONS</p> 
<p>Decimals of precision: 18<br><img decoding="async" loading="lazy" src="https://lh4.googleusercontent.com/ZTb9iC9divu3TwJTo4VbrFlNdAkvD3Hwq5FNQ70Z-2BsnNa8ReXdbnSm1fkEzorwdJOiwETbNnCumWaADItrjroHmHdY01rKjrWmetjeM2Jgbe2-V_VoRo758vr8GQy_GoFMOKRa=s0" width="356" height="601"></p> 
<p>Once you have added the token, you will be able to see your Moon balance appear.</p> 
<h3 class="wp-block-heading" id="set-up-the-xdai-network-in-your-metamask-wallet">Set up the xDai network in your Metamask wallet:</h3> 
<p>To start using the xDai network on Metamask, click on the network menu and select “Custom RPC” then enter these details:</p> 
<ul> 
 <li>Network Name: xDAI</li> 
 <li>New RPC URL: <a href="https://rpc.xdaichain.com/" target="_blank" rel="noopener noreferrer nofollow">https://rpc.xdaichain.com/</a></li> 
 <li>ChainID : 100</li> 
 <li>Currency Symbol: xDai&nbsp;</li> 
 <li>Block explorer URL: https://blockscout.com/poa/xdai</li> 
</ul> 
<figure class="wp-block-image size-large is-resized"> 
 <img decoding="async" loading="lazy" src="https://captainaltcoin.com/wp-content/uploads/2022/05/image-23-613x1024.png" alt="" class="wp-image-142565" width="373" height="623" srcset="https://captainaltcoin.com/wp-content/uploads/2022/05/image-23-613x1024.png 613w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-23-180x300.png 180w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-23-767x1282.png 767w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-23-920x1536.png 920w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-23-1226x2048.png 1226w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-23-90x150.png 90w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-23-100x167.png 100w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-23-210x350.png 210w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-23-788x1316.png 788w, https://captainaltcoin.com/wp-content/uploads/2022/05/image-23.png 358w" sizes="(max-width: 373px) 100vw, 373px"> 
</figure> 
<p>Finally, click on the “Save” button.</p> 
<h3 class="wp-block-heading" id="convert-dai-to-xdai">Convert Dai to xDai:</h3> 
<p>In order to pay the fees on the xDai network, you will need some xDai. You can use a Dai to xDai bridge to get some:</p> 
<ul> 
 <li>Visit <a href="https://dai-bridge.poa.network/" target="_blank" rel="noopener noreferrer nofollow">https://dai-bridge.poa.network/</a></li> 
 <li>You will now be prompted to connect your Metamask wallet, click ”connect”.</li> 
 <li>Now you need to switch to the Ethereum mainnet network.</li> 
 <li>Put in how much DAI you want to convert to the xDai network.</li> 
 <li>You will now be prompted to confirm the transfer, click “confirm”.</li> 
</ul> 
<ul> 
 <li>Convert MOON to xMOON:</li> 
</ul> 
<p>Since you will be selling your xMOON for xDai, you’ll first have to convert your MOON into xMOON:</p> 
<ul> 
 <li>Visit <a href="https://xmoon.exchange/" target="_blank" rel="noopener noreferrer nofollow">https://xmoon.exchange/</a></li> 
 <li>Connect your Metamask wallet to the exchange by clicking the “connect” button in the top-right.</li> 
</ul> 
<figure class="wp-block-image size-large is-resized"> 
 <img decoding="async" loading="lazy" src="https://captainaltcoin.com/wp-content/uploads/2022/05/MOON-to-xMOON-1024x319.png" alt="" class="wp-image-142581" width="680" height="211" srcset="https://captainaltcoin.com/wp-content/uploads/2022/05/MOON-to-xMOON-1024x319.png 1024w, https://captainaltcoin.com/wp-content/uploads/2022/05/MOON-to-xMOON-300x94.png 300w, https://captainaltcoin.com/wp-content/uploads/2022/05/MOON-to-xMOON-767x239.png 767w, https://captainaltcoin.com/wp-content/uploads/2022/05/MOON-to-xMOON-1536x479.png 1536w, https://captainaltcoin.com/wp-content/uploads/2022/05/MOON-to-xMOON-2048x639.png 2048w, https://captainaltcoin.com/wp-content/uploads/2022/05/MOON-to-xMOON-481x150.png 481w, https://captainaltcoin.com/wp-content/uploads/2022/05/MOON-to-xMOON-100x31.png 100w, https://captainaltcoin.com/wp-content/uploads/2022/05/MOON-to-xMOON-1123x350.png 1123w, https://captainaltcoin.com/wp-content/uploads/2022/05/MOON-to-xMOON-788x245.png 788w, https://captainaltcoin.com/wp-content/uploads/2022/05/MOON-to-xMOON.png 1347w" sizes="(max-width: 680px) 100vw, 680px"> 
</figure> 
<ul> 
 <li>Now switch to the Rinkeby test network in Metamask</li> 
 <li>In order to make this transfer, you will need some Rinkeby Ethereum to cover the Rinkeby network fees. You can get Rinkeby Ether by entering your Rinkeby network address on Metamask in those two faucets and claiming : <a href="https://faucet.rinkeby.io/" target="_blank" rel="noopener noreferrer nofollow">https://faucet.rinkeby.io/</a> or <a href="https://rinkeby.faucet.epirus.io" target="_blank" rel="noopener noreferrer nofollow">https://rinkeby.faucet.epirus.io</a> .</li> 
</ul> 
<p>The first faucet requires you to make either a Facebook or Twitter post in order to get free Rinkeby Eth.</p> 
<ul> 
 <li>Click on “MOON to xMOON” button</li> 
 <li>You’ll be prompted to confirm the transfer, click “confirm”</li> 
 <li>Wait until the transaction is confirmed, your xMOON balance&nbsp; will then show up on the left-hand side.&nbsp;</li> 
</ul> 
<ul> 
 <li>Convert xMOON to xDai:</li> 
</ul> 
<ul> 
 <li>Proceed with the previous website in order to swap your xMOON to xDAI</li> 
 <li>Switch to the xDai network on Metamask</li> 
 <li>Click on the “xMOON to xDai” button</li> 
 <li>Confirm the transfer within the Metamask pop-up</li> 
 <li>Wait for your xDai balance to show up</li> 
</ul> 
<h3 class="wp-block-heading" id="convert-xdai-to-dai">Convert xDai to Dai:</h3> 
<p>We’re almost there! Lastly, you need to swap your xDai to Dai using the bridge we used earlier. Please note that it will take some time for your Dai to show up in your Metamask wallet. The transaction&nbsp; usually takes one hour but it may take longer depending on the network condition.</p> 
<ul> 
 <li>Visit <a href="https://dai-bridge.poa.network/" target="_blank" rel="noopener noreferrer nofollow">https://dai-bridge.poa.network/</a></li> 
 <li>Switch to the xDai network on Metamask</li> 
 <li>Transfer your xDai to Dai using the bridge</li> 
 <li>Confirm the transaction on Metamask</li> 
 <li>Your Dai will soon show up on the Ethereum mainnet in Metamask</li> 
</ul> 
<p>Awesome! Now you have successfully swapped your moons into Ethereum mainnet tokens.</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/reddits-moons-will-make-new-millionaires-this-is-how-you-earn-with-reddit/">Reddit’s MOONs Will Make New Millionaires – This Is How You Earn With Reddit</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Reddit’s MOONs Will Make New Millionaires – This Is How You Earn With Reddit

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