The bitMoony Reward Token Launches
The bitMoony reward token, designed for a new reward ecosystem was recently launched. bitMoony is a token that digital publishers may utilize to reward the audience for sharing some of their spare CPU power when they utilize the services. bitMoony tokens will materialize the user’s efforts, which may be redeemed for digital content, games, and more. Users will contribute via the CPU power to various online projects. Since they get something in return, it will make the entire process more efficient.
bitMoony is essentially a stable coin. Rather than being backed by fiat, its value is backed by user CPUs who mine ETN and XMR inside the network. The issuance of bitMoony is due to the underlying PoW consensus mechanism of Monero. Every cent that is mined on XMR is equal to a 100 bitMoony. The initial version is not built of the blockchain. The reason is:
- They need to ensure the bitMoony is easy to transfer with no transaction fees
- Thus far, they have not found any blockchain that has 0 fees
Why bitMoony Matters
Moonify created the bitMoony tokens for various reasons. Firstly, it is a demonstration of how innovative it can be to earn something using a CPU. Secondly, they wanted to show that something could be created when users agree to share their CPU. Thirdly, some of their competitors have been using malware to cryptojack CPU power. Moonify believes this is wrong and they want to change it. They want to bring ethics to the crypto sharing world.
For users, the signup can be accessed from the sign-in section at the bottom of the Moonify site. The process is simple, and users can get started in just a few minutes. As soon as they have signed up, they may begin to earn the bitMoony tokens.
To help with the development of the ecosystem, they will start by distributing all the earning to users. For them to achieve this, they will give 70% of the tokens to website owners as XRM. They can then decide which portion of the tokens they will offer users. The other 30% will be given to site owners as bitMoony tokens.
How To Use bitMoony Tokens
bitMoony tokens can be redeemed for games. One such site where the tokens can be redeemed is http://loot.game/. On the site, you can earn games just by taking part by sharing using the CPU power. Once there are enough bitMoony collected, they can be redeemed for games. The more users who visit the site, the quicker games will be unlocked. There is a referral program that will be announced soon.
The Sharing Model
The model where 100% of the tokens are given away might seem strange. However, this economic model is not based on the mining profits. Instead, it is based on the transaction fees and the user acquisition for the publishers. This will make bitMoony a widely accepted method of payment. This is the first step in a process that wants to ensure that when users and content interact it creates value.