TechFlow news: The moderator team of Reddit's r/CryptoCurrency subreddit plans to impose a hard cap on the supply of its native token, MOON. Reddit administrators will soon abandon the MOON token contract, expected by the end of this month. This action will prevent any further creation of new MOON tokens, rendering MOON "fully decentralized" once the contract is burned.
The moderators further clarified: "In practice, no one will control the contract—including neither Reddit nor the mod team." All MOON tokens held in community treasuries will be burned, reducing the total supply to just over 83 million. As a result, the token will cease to be inflationary and will become deflationary if additional MOON tokens are burned in the future.
The mod team stated they will collaborate with the community to shape MOON's future, including decisions on distributing the remaining MOON in community wallets, and whether to burn or distribute MOON generated from advertising banner rentals and AMAs conducted by the community. Additionally, the mod team will continue developing bots and leveraging available APIs to enhance MOON's utility.
