As part of a larger campaign from Reddits’ higher-ups, the r/Cryptocurrency and r/FortNiteBR subreddits unveiled their token launches last night. Branded all too aptly (and perhaps a bit unfortunately), the tokens, MOON and BRICK, respectively, will be used as “community points” for either subreddit and are the flagship campaigns for Reddit’s push to provide tokens as in-community currency for its thousands of subreddits.
These tokens will be stored in the Reddit Vault, a wallet component that’s baked in to Reddit’s Android and iOS apps. Like other Ethereum-native tokens, users will be able to transfer these tokens off their Vault to any other ERC-20 compatible wallet.
Reddit Is Launching Ethereum Tokens For Its Subreddits
Two subreddits with a combined 2.4 million members are launching their own cryptocurrencies. As part of a larger…
As the MOON and BRICK tokens get distributed across the community it time to create more use-cases for these tokens that further support the growth and utility of the token. PrinterDAO is looking to launch a collectible poster campaign with Yield Farming that supports upcoming Digital Artist using the two subreddits with a combined 2.4 million members and growing.
We are creating a hierarchy system that incentives you to acquire more tokens to buy in on the poster campaigns which will feature art from various artist.
This is an example of this when look at the bitcoin food chain.
There will be liquidity pool on HoneySwap for those who participate where you will provide $PRINT and Reddit’s xMOON or $HNY tokens to take part in receiving collectible NFT posters in the drop. These drops will be different levels of printed NFTs based on how much liquidity you provided in the pool that determine the rarability of each poster. It won’t officially start until liquidity is established at around $50,000 for over 1 month before we are able to start printing these NFT posters. In order to participate you will need to be in top 100 LP to receive posters but could expand to other prints as the pool grows giving us more flexibility.
We will look to collaborate with different communities and artists with there own tokens to help them get printed inventory. Those communities that are interested will need to create PRINT LP on HoneySwap. Since we will sell $PRINT from the pool over period to cover the fixed cost of the print run which may result in temporary fluctuation in PRINT price.