MultiversX Tracker is Live!

I researched all of Reddit's RCPs and non-RCP subreddit tokens so you don't have to

All Cryptocurrencies

by COINS NEWS 78 Views

I researched all of Reddit's RCPs and non-RCP subreddit tokens so you don't have to

Hey folks, let's discuss Reddit Community Points (RCPs) and other Reddit-related coins/tokens. I'm pulling data together so you don't have to! For the purpose of this post I'll refer to all of them as "coins" though perhaps tokens is more applicable in some cases. Also note that prices, market caps etc. are only accurate up to what I found today and obviously can change very quickly.

There are, to my knowledge, 11 Reddit-related coins that do exist, did exist, or almost existed:

  1. BitCone
  2. Bricks
  3. Cannacoin
  4. Donuts
  5. Moons
  6. MoonsDust
  7. Photons
  8. Plungers
  9. Tacos
  10. r/mountainbiking's RCP
  11. r/hiphopheads's RCP

Some background and current status of each coin

Table 1. List of Reddit-related coins, their chain, their affiliated subreddit, if they're an RCP or not, and their current status

OK, so as you can see, of the 11 coins, a few are dead/defunct (including official RCPs), a few are associated with subreddits but are not officially RCPs, and one ( r/hiphopheads ) never released despite being announced. I'll walk you through the status of each.

BitCone

Non-RCP airdropped to folks that had a Conehead avatar; subreddit is r/ConeHeads.

Bricks

Official RCP for r/fortniteBR, similar to Moons.

Cannacoin

Non-RCP coin for r/StellarCannaCoin; it's a cannabis coin that, due to the nature of the coin, is having a hard time getting approval on CoinGecko or CoinMarketCap.

Donuts

An outlier here; I believe they were setup by Reddit initially as an RCP (pre-Moons/Bricks) but at some point were spunoff to the mods of r/EthTrader and now Reddit has zero involvement in their distribution and Reddit receives no Donuts each month. I would not consider Donuts to be an official RCP anymore given this... they're more like a decentralized, former RCP.

Moons

RCP for r/CryptoCurrency, similar to Bricks.

MoonsDust

Made by u/mellon98 as a way for holders to collect "dust" amounts of all RCPs via fees collected from Mellon's RCPSwap exchange. Liquidity for MoonsDust was pulled over two months ago and has yet to be restored, but apparently will be restored in the coming months and the coin will be swapped from Binance Smart Chain (BSC) to Arb-Nova when that occurs. Currently, holders cannot sell and buyers cannot buy due to the liquidity being pulled.

Photons

These were an RCP for r/Stellar that were discontinued. You can no longer buy or sell them. I'm not entirely clear why they were discontinued but I believe it is because Reddit wanted to shift RCPs to the Eth network and Photons were on Stellar (XLM).

Plungers

Non-RCP that was airdropped to folks that had a Rabbit Reddit avatar; subreddit is r/PlungerPlanet.

Tacos

Non-RCP for r/TacoToken; not related to any avatars to my knowledge.

r/MountainBiking coin

This was an official RCP, but I literally cannot find the official coin name. I'm not entirely clear on why it was discontinued but I was told the community voted to get rid of them. I believe this was on an Eth testnet like Rinkeby.

r/HipHopHeads coin

This was announced by the mods of r/HHH to be releasing around October/November 2021, but for reasons unclear to me, never launched. I'm unsure if the coin ever had an official name.

Since #6, 7, 10, and 11 above are not currently tradable (and in some cases never will be), we won't discuss those further. For the remaining seven, here is some basic info:

Table 2. A list of Reddit-related coins, their price, number of holders, market cap, and supplies.

Please note, I had some issues finding max supply of some of these. Donuts are minted each month and unless a community vote changes things, a few million are minted each month for eternity. Moons and Bricks are like this too, technically, but the rate of distribution drops each month, so for all intents and purposes I still feel the 250,000,000 max supply is a reasonable estimate, for now. I also had an issue finding the number of holders for Tacos.

With some objective information out of the way, I'd like to add some subjective opinions. First, full disclosure, I hold bags of Bricks, Moons, Donuts, and BitCone. I do not hold the other coins and don't plan to buy them. My opinion is that Moons are likely to increase in value quite a bit if another bull run occurs, and as they do, the lesser-known Bricks will be FOMO'd into by folks looking to catch "the next big RCP" after they feel they "missed" Moons. I think we've already seen this to some extent even in the bear market.

Donuts, I feel, are #3 in line after Bricks and will have the same FOMO upswing. There is also, imo, a very real possibility that Donuts will start to get listed on smaller exchanges like MEXC after what I believe have been successful listings of Moons and Bricks on various exchanges.

BitCone is more of a long-term gamble for me. I'm not sure if I expect them to ever get to a CEX, but I could be wrong.

The other coins, imo, are even bigger gambles. CannaCoin has been around for years and I think the nature of being a "cannabis coin" is gonna really limit its exposure/outreach. Tacos feel very disorganized; I had a hard time finding even basic info on their subreddit and had to go to an Algo-specific price aggregator to find anything on them. Plungers, to me, feel very similar to BitCone but aren't as far along, so a lot of upside could exist, but it's very risky imo. MoonsDust, if liquidity is restored and the transition to Arb-Nova is successful, could have a big upside potential but at the same time, I think a huge amount of trust is lost in the dev due to unilaterally deciding to pull liquidity for months now, effectively holding hostage every holder's funds; I anticipate a large dump when liquidity is restored as folks pull their investments into something safer.

So, there you go folks, some basic info on all (to my knowledge) Reddit-related coins. I am not advising you do or do not invest or gamble into any of these, and frankly, based on tokenonics/distribution, I'd argue most or all of these (Moons and Bricks included) are shitcoins. Again, as disclosure, I hold bags of Moons, Bricks, BitCone, and Donuts, so although I tried to be unbiased, please keep that in mind.

If you have any questions about any of these coins please comment below and I'll do my best to get you an accurate answer.

submitted by /u/SoupaSoka
[link] [comments]

Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments