Moons Vs Donuts-Which Reddit Coin Is Best?

As blockchain technology is reshaping the world, many companies are turning to it for many reasons. Some are tapping into its resources to enhance their relations with their clients either socially or economically.

Some of the most recent companies to confirm the support of blockchain technology include Twitter and Reddit. Reddit, an active community that openly has discussions about digital currencies, has developed two tokens for their customers, namely Moons and Donuts tokens.

Per the company, these digital assets can help their fans purchase special badges that will count as passes to cast their polls. Customers can also sell these tokens or tip each other. Read on to know which token is better between Reddit’s Moons and Donuts.

History of the Moon and Donut Reddit Coins

Reddit made a stir in 2020 by saying that it was making a crypto reward scheme for Redditors. Their developers then made smart contracts which now govern their RPC project. The RPCs are ETH tokens, Moons, and Donuts, which are currently in use all over the world. Their first project was the Moons token which now stands at a value of $0.1763. Reddit gave 50 million Moons tokens to all active Redditors in May 2020.

In Q3 of 2020, Reddit also said that it would sponsor another crypto project. That is when the Donut token, which was operational since 2018, came into play on Reddit. Many gave mixed reactions to the overall idea of crypto tokens helping in the governance of Reddit. However, it is still not known how much influence Reddit has on the token. By now, the Donut token sells at $0.007915.

Comparison between Moons’ and Donuts’ Tokenomics

Per Reddit, only a maximum of 5 million Moons can be distributed per month. However, this amount shrinks by 2.5% on each cycle. This giveaway started in 2020 after the distribution of 50 million tokens in the first launch. This coin will only have a total of 250 million tokens.

For the Donut token, a holder can use them to purchase banner spaces in Reddit, vote on Reddit proposals, and trade them. The utility of this coin in Reddit ensures that its demand is always high due to the readily available stream of willing advertisers. As a result, the Donut token now stands as a real-use token and not a meme coin. Its total supply also has a more definite issuance than Moons:

  • 85% To users according to their Karma contributions
  • 10% for community fund
  • 5% for Moderators

Price Charts and Active Addresses Comparisons

The Moons and Donuts tokens may not feel like regular cryptocurrencies, but their design is still quite as good as other cryptos. Per the current data on CoinMarketCap, Moon’s token is currently having a market cap of $13,357,196.36. However, its volume and circulating coins statistics are not available. It also has 188 holders with 1901 complete transactions.

On the other hand, the Donut token has a market cap of $952,535.12, and every coin is in circulation already. It has a total of 120,355,919 tokens. Donut is currently trading at $0.007929.

The token also has a total of 5,018 holders and 34,569 complete transactions. Even though the Donut token had an earlier launch than the Moons token, its transaction statistics show consistency. Many people are using it as compared to the Moons since its utility is also better.

How to trade Moons and Donuts Tokens

Anyone can buy these tokens through leading crypto exchanges like OKEx or earn them freely. The process of buying and selling these coins through exchanges is the same as any other cryptocurrency. You first deposit fiat to exchange with either of the coins, then make an order and wait to confirm it.

However, the process to gain these tokens for free is different. To get free Donuts and Moons, you should register an ETH address with Reddit and start posting and commenting in the Ethereum trader Reddit. Then the team converts the Karma earned into Donuts or Moons even if it is not on a 1:1 ratio.

It is also possible to swap Moon tokens to Stablecoins through Uniswap. After converting into DAI Stablecoins, one can now make a typical sale through major exchanges.

The Roadmap of Moons and Donuts Tokens

The Reddit Moons are still controversial since the team behind them is yet to provide the white paper. They do not have a well-defined road map, and their utility seems to be outdone by Donut tokens which they adopted after Moons. Therefore, it remains to be seen whether the development team will do new projects for Moons, or it may meet its end.

According to Reddit, the Donut token also is in the development stages of its interoperability with the social media platform. However, the teams seem to be more willing to try new utilities and Donut features than Moons token. However, it is good to research before deciding which token has a better future between Donuts and Moons.

Which Coin Is More Likely to Attract More Users?

Currently, the Donut token is serving more transactions per day than the Moon token. It has this advantage since it has a real-life utility, and it’s not a meme coin anymore. The coin also has more holders, and the team behind it is not withholding any of its statistics. As a result, many are using it more frequently than the native Reddit coin Moons.

The above statistics show that Donuts is more likely to keep attracting new users than Moons. It seems somewhat round and has an excellent real-life application. However, it is good to DYOR before investing in any crypto project.

Final Word

It is good to note that tokens with real-life usage are starting to take over the crypto space. Even though some coins like Dogecoin have relatively admirable ranks without real-life applications, it is best to be cautious when dealing with them. Other currencies that have the support of corporations and companies like Reddit are also shaking the crypto world.

Donuts and Moons are now helping in the governance and running of Reddit. These two tokens are raising debates on which of them is better than the other. To start with, Reddit made Moons but later chose to endorse Donuts too. They are now using both coins in their operations, but why would it be necessary to supplement an existing Moons token. The team also helps develop more Donut features than their Moons but what might happen to these two tokens is unknown. However, it is best to learn how to DYOR when dealing with cryptocurrencies.

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