Hello, Redditors! I'm Justin, a moderator for the cryptocurrency subreddit. This is an introductory video about cryptocurrency moons, governance polls, and why we're excited about the future of the subreddit. The cryptocurrency subreddit is one of the largest and most active cryptocurrency communities in the whole world, and we hope that moons will allow the community to grow to new levels. You may have noticed this moon token mentioned a few times while browsing the subreddit. In this video, we will cover three basic things. One, what are moons? Two, how do you earn them? And three, what can you use them for? Moons are a cryptocurrency. They are issued by Reddit, and represent a unit of ownership of the cryptocurrency subreddit. Currently, moons are a token on the Ethereum Rinkopy TestNet, a sort of lower stakes network on a separate blockchain that doesn't have the same security as the normal Ethereum network. It's not important that you understand all these terms to use moons, but realize that moons are still very experimental and may change in the near future. Reddit announced moons in May 2020 with the help of the cryptocurrency subreddit moderators. There is a maximum supply of 250 million moons. 20% is distributed to Reddit, 20% to a broader Reddit community, their words, 10% to subreddit moderators, and 50% to all other redditors. To start, 50 million moons were distributed based on contributions before moons existed. The cryptocurrency subreddit moderators have decided to voluntarily allocate a moderator share, so to speak, of the distribution to a separate subreddit community fund managed by the moderators. There are some situations where funds are burned more on that later. These burned funds are removed from distribution and thus allow for Reddit to issue new coins up to the 250 million outstanding maximum. Moons are rewarded to Reddit accounts who post quality content to the cryptocurrency subreddit. Broadly, moons are distributed to users based on macarama or upvotes they earn. If you create quality posts and respond with helpful comments, you will be rewarded with moons. The specific amount you receive will be based on your total weighted karma compared to others as well as this distribution of moons for the round. You can also earn moons by participating in special events and promotions. For example, we regularly host a trivia session where the winners receive moons. These moons come from the subreddit community fund. You need to download the official Reddit application to claim your moons. You can then set up your vault. You will be given a backup phrase which you must back up. If you lose these words or share them publicly, your funds will be gone forever. There is no way to recover them. However, the upside of this is that neither Reddit nor the subreddit moderators can ever take your moons away. Since moons are stored on a decentralized blockchain, you have full control over how you use them. You can use them to tip other redditors, trade them with others, burn them for special memberships, and vote on community and distribution proposals. The official Reddit mobile app and the Reddit website support tipping and transferring moons. At the time of this video's release, you cannot trade moons on a traditional cryptocurrency exchange but there are some advanced trading options available. You can spend your moons on special memberships. These allow you to use gifts and animated emojis and comments and add flares to your username when participating in the cryptocurrency subreddit. They also allow users to bypass minimum karma posting requirements in the subreddit. Moons also give you voting rights in important governance polls. Your voting weight is the lesser of the amount of moons earned by your account and the amount of moons held in your account. Thus, users need to both earn and hold their moons to retain their voting power. There are two types of governance polls, community and distribution. Community governance polls allow redditors to vote on a proposed subreddit rule change. These polls must first be approved by the subreddit moderators before they are binding. Distribution governance polls allow redditors to vote on a change to the future distribution of moons. These polls must be approved by the reddit admins before they are binding. I hope this video helped you learn the basics of cryptocurrency moons. In summary, Moons are a cryptocurrency reward given to active posters and commenters of the subreddit as well as participants in special events. It can be used however you like, including tipping, trading, or participating in governance polls. Make sure to back up your recovery phrase in the reddit vault and to enable two factor authentication in your reddit account settings to keep your funds safe. Thanks for watching. If you have more questions about Moons, please ask the extremely helpful cryptocurrency community. We hope to see you in the subreddit.