Bitcoin bull and crypto trader Tyler Swope is shining a light on a little-known way to capitalize on two new crypto assets.
The crypto influencer says he’s uncovered a virtually zero-cost process through which investors are getting their hands on and selling the Reddit-based community tokens Moons and Bricks.
“By being a Reddit karma farmer, you can now accumulate these subreddit tokens and get paid by doing what people already do: shatposting, memelording, or just providing solid content.”
Moons are Ethereum-based tokens that are distributed to community members of the r/cryptocurrency subreddit. The number of tokens that members receive is based on the amount of Reddit karma they earn, which is a measure of a user’s contribution to the community.
The community token Bricks also follow the same rewards mechanism. The big difference is that Bricks are earned by getting karma on the subreddit r/FortNiteBR.
Although there is a perception that the tokens can’t yet be sold, Swope says there are ways to trade the tokens on the open market. He says the first and the most liquid place for trading moons is HoneySwap, which is a clone of the Uniswap protocol.
“Now as we can see, over the past week, trading volume for Moons on HoneySwap has been pretty stable, about $30,000 per day. The liquidity for this is nearly $70,000.
So what I’m trying to get across right here is once trading volume goes nuts for Moons again, the few people in the liquidity pools are going to make bank on trading fees and it will happen again, yes again. As volume has already gone pretty nuts on HoneySwap during the launch hype wave, over $400,000 daily volume.
And then with Bricks, the opportunity is even more ripe as the liquidity pool is much smaller, seven times, under 10 grand.”
As for whether the two assets will be listed on centralized exchanges, there are rumors that Moons may come to Kraken, but so far nothing is confirmed.
I
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Mark Schwettmann
