Welcome to the Moon Burn Update for Moon Week 62. Let’s take a look at all Moon Burns between March 30th and May 28th. In addition at the end of the post we’ll be discussing a pause in third party banner customizations.

What are Moons:

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. Off-chain earned Moons can be tipped to other Redditors as an appreciation for their help or contributions on Reddit. Moons can be tipped to others on both the rcryptocurrency Telegram and Discord.

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. You can find the Moon Week 62 post here.

Let’s talk Moon Week 61 and 62 Moon Burns:

Between March 30th and May 28th

92,722 Moons were burned on Arbitrum Nova in twenty-four unique burn events: 64,787 Moons were burned on Arbitrum One in sixteen unique burn events: The total number of Moons burned between both chains over the 59 day period is: 157,509 Moons.

Moon Burn Ranking Update:

Moons are the 8th most valuable asset in the burn address on Arbitrum One, with ~487k Moons having been burned so far on Arbitrum One

Unlike most assets in the burn address on One, no Moons were ever minted for the purpose of being burned. Nearly all the Moons in the dead address on One were purchased off the open market and burned by web three entities looking to engage with rCC users.

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Moons remain the most valuable asset in the burn address on Arbitrum Nova with ~3.043M Moons having been burned to date and accounting for over 99.9% of the value of all tokens in the burn address on Arbitrum Nova.

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Announcing a Change to Third Party Banner Customizations

Nearly two and a half years ago the r/cryptocurrency community approved CCIP-048 which gave the opportunity for third parties to burn Moons and customize the rCC Banner. After Reddit sunset their involvement in Moons they gave us permission to continue this format.

We have had a recent discussion with Reddit admins around banner customizations, and need to change how banners work moving forward. We can still customize banners to bring awareness to community events like giveaways and subreddit AMAs but we can no longer use banners as a way for third parties to engage independently with our users.

The mod team has been discussing potential ways to continue our partnership program and we will submit a CCIP to implement new type of partnerships, such as pinned image posts and side menu images.