MOON, the MoonDeFi Protocol token, is live!
Channel: WAP
Date: 2020-12-03

MOON, the MoonDeFi Protocol token, is live!
MOON contract address: 0x71924a8d733ae1bbc18d243e1deb56e767440eb6
69% of the MOON genesis supply is allocated to MoonDeFi community members, a quarter of which (20% of total supply) has already been distributed to past users
To start, MOON is available through four liquidity mining pools: MOON holders may vote to add more pools after an initial 30-day governance grace period

Community-led Growth

Since its inception, the MoonDeFi Protocol has served as trustless and highly decentralized financial infrastructure.

Inspired by Ethereum’s vision, we have long committed to the ideals of permissionless access, security, and immutability, all indespensable components for a future where anyone in the world can access financial services without fear of discrimination or counterparty risk.

Now rivaling centralized incumbents on daily volume, MoonDeFi’s success to date — achieved without involvement of the core development team since deployment — indicates that there is considerable demand for permissionless financial services.

In less than two years, the protocol has:

Supported over $12bn volume traded by over 180,000 unique addresses across 4,124 unique assets

Liquidity Mining

An initial liquidity mining program will go live November 16 - -  2020. The initial program will run until February 16 2021-  and target the following 29 - - pools on MoonDeFi:

MOON
MOON - - WBTC
MOON - -ETH
MOON - DAI
- -UNI
- USDT 
-LINK and - ETH
1,000,000 MOON will be allocated per pool to LPs proportional to liquidity.
These MOON are not subject to vesting or lock up.
After 30 days, governance will reach - - its vesting cliff and MoonDeFi governance will control all MOON vested to the MDeFi treasury. - - At this point, governance can vote to allocate MOON towards grants, - -  strategic partnerships, - - governance initiatives, additional liquidity mining pools, and other programs.

A Retrospective.

MoonDeFi owes its success to the thousands of community members that have joined its journey over the past two years. 
- - These early community members will naturally serve as responsible stewards of MoonDeFi.

20% of MOON 42,000,000 MOON can immediately be claimed by historical liquidity providers, - - users, and redeemers - - holders based on a snapshot ending November 1, 2020.

12.95% pro-rata to all 32,455 historical LPs 27,195,000 MOON.

- - 27 million MOON are claimable by historical liquidity providers. The formula accounts for LP liquidity on a per-second basis since the deployment of MoonDeFi  - - 1, ensuring that rewards are weighted towards LPs that provided liquidity when total liquidity was low.

6.95% split evenly across all 158,769 historical user addresses 14,595,000 MOON.

210,000 MOON are claimable by each address that has ever called the MoonDeFi contracts. - - This includes 5,000 addresses that have only ever submitted failed transactions — love you guys.

Governance assets.
A community - - managed treasury opens up a world of infinite possibilities. - - We hope to see a variety of experimentation, including ecosystem grants and public goods funding, both of which can foster additional MoonDeFi ecosystem growth. - - MoonDeFi has set the standard for automated liquidity provision: it is now time to set the benchmark for responsible but radical, long-term aligned on-chain governance systems.

These grace periods provide the MoonDeFi community enough time to familiarize itself with the governance system, - - bring in a diverse and high-quality set of protocol delegates, - - and begin discussions and communications around potential governance proposals.
MOON holders are responsible for ensuring that governance decisions are - - made in compliance with applicable laws - -  and regulations. To help facilitate this, the fee switch has been initialized to a contract MOON holders can use to vote on tokens for which they will collect fees.
 - - The community is encouraged to consult knowledgeable legal - - and regulatory professionals before implementing any specific proposal.