The rCryptoCurrency Moon Week 54 Moon Burn Update and a 2024 Milestone!
2 min read
Welcome to the Moon Burn Update for Moon Week 54. In this post we’ll take a look at all Moon Burns between October 14th and November 11th:
For the uninitiated Moons are a community and governance token for rCryptoCurrency. They serve many unique purposes such as:
Earning Moons for participation on the sub. (Yes distributions are back) Voting on Community governance for the sub. Burning Moons for a special membership. Approved entities can burn Moons to engage on the sub in the form of events/amas/others. Off-chain earned Moons can be tipped to other Redditors on as an appreciation for their help or contributions on Reddit.
One of the best ways to keep an eye out for updates about Moons on the sub is to look for Moon Week posts which happen once every 28 days, with Moon Week 55 happening right now!
Let’s talk Moon Burns!
Now that Moons are on both Arbitrum Nova and Arbitrum One, Moons are burned on both chains.
Between October 14th and November 11th:
10,527 Moons were burned on Arbitrum Nova in four unique burn events: 32,335 Moons were burned on Arbitrum One in fourteen unique burn events: The total number of Moons burned between both chains over the 28 day period is: 42,862 Moons.
Moon Burn Ranking Update:
Despite being new to Arbitrum One – Moons are the 12th most valuable asset in the dead address on Arbitrum One. With almost 80K Moons currently worth over $11,635 having been burned on Arbitrum One so far. Unlike almost every other asset in the Arbitrum One burn address – No Moons were ever minted for the purpose of being sent to the Dead wallet.
https://arbiscan.io/address/0x000000000000000000000000000000000000dead
On Arbitrum Nova – Moons remain the number 1 asset is the Dead address with 2.718M Moons having been burned (Currently worth $392K)
This means between both networks ~2.8M Moons have been burned to date!
2024 Moon Burn Milestone!
In this update Moons have hit a special Milestone for 2024 that I’m excited to share with the community.
At the start of the year 80,293,585 Moons were in circulation (excluding the Burn address). With todays update a total of 812,771 Moons have been sent to the burn address so far this year making our current circulating supply of Moons 79,480,814.
That means the circulating supply of Moons has dropped by 1% so far in 2024!
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Important note: if you purchase a special membership and are not able to activate it, send a message to mod mail. So we can troubleshoot any issues and make sure you get to use it.
submitted by /u/GabeSter
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