Hi,
I've been thinking about this for some time now. Reddit burned the contract, now nobody has control over Moons and we aren't able to mint and distribute new tokens anymore. The token is now deflationary, but it will be hard to onboard new users. I think the possibility of earning moons was a real driver of adoption for Moons.
So... why didn't we do that? We could've made a snapshot and distribute a new Token with a new smart contract.
Thanks in advance!
I've never been a fan of infinite token minting. What would that solve? Everyone would just be collecting millions and millions of them and banner rentals and burns would mean nothing. Having the token hard-capped and deflationary makes it much more appealing. With all the banner/AMA rentals and burns, plus the upcoming DAO, Moons in their current state are in excellent shape. And they are 100% community driven.
Because any new token would be given 1:1 for old moons, and be inflationary.
Thats where we are right now, with worse tokenomics
Exactly with the addition that we would lose all our history and milestones we built up through the years in addition to the Kraken listing, Teller etc..
The current system is fantastic for long-term Moons holders and the ones who put their trust in the project.
Why do we need a new token?
because at that time deflationary was a better option as you can see after reddit renounced the contract we jumped from 5c to 30c in no time maybe it took half a day also uncertainty if kraken will list moons if we migrate to the new contract.
also i think many people got burned in the process and many people left who were constantly shilling moons during reddit sunset also many people still hating on it even though moons are being distributed+pol
That was awesome after selling for 0.40 I jumped in at 0.04 because I thought "let's do the opposite of the sentiment" and sold for 0.26 again. The only time where I (kinda) timed the market right.
It's a good question. I think until recently the deciding factor was that we didn't have any organization or party willing to do it - it carries legal and other risks associated with it. We still don't quite technically have our dao setup, but it's getting there, but up until now it's really just been a logistical block, now at least it's something more realistically possibly...
Why would we do that and lose the Kraken listing along with the Teller integration, the Celer bridge and the history we have made so far.
Not to mention that the Moons tokenomics are better than ever now and actually reward holders with their strong buybacks & deflation.
Give it time and let them Moon DAO build up the treasury and liquidity, good things are ahead of us!
A new Kraken listing would've been possible, no?
!gas matic
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!gas nova
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