TechFlow reported that the mod team of Reddit's r/CryptoCurrency sub-forum plans to impose a hard limit on the supply of its native token, MOON. Reddit administrators will abandon the MOON token contract, which is expected to be completed by the end of this month. This will make it impossible to create new MOONs, making MOON "completely decentralized" after the contract is destroyed.
The moderator further clarified: “In reality, no one controls the contract, including Reddit or the mod team." All MOONs stored by the community will be destroyed, reducing the total supply of MOONs to over 83 million. Therefore, the token will no longer be inflationary, and if MOONs are destroyed in the future, it will become deflationary.
The mod team said it will work with the community to jointly develop future plans for MOON, including distributing the remaining MOON in the community wallet and deciding whether to burn or distribute MOON from advertising banner rentals and community-conducted AMAs. In addition, the mod team will continue to develop bots and utilize available APIs to increase the utility of MOON.
