Draft:MoonStar (cryptocurrency)

MoonStar ($MOONSTAR) is a BEP20 digital currency based on Binance Smart Chain (BSC) launched on April 3rd, 2021, as a Third Generation Cryptocurrency that automatically rewards for holding tokens. Its tagline is Aim for the Moon, Shoot for the Stars. The contract for MoonStar is locked with a maximum supply of 1,000 trillion tokens, which permanently decreases with transactions to a burn address. There was an initial burn of 4 trillion (0.4%) tokens. By April 26, 2021, a total of 10 trillion coins were burnt, equaling 1% of the Total Supply. In March 2024 the burn address surpassed 18 trillion (1.8%) tokens. The MoonStar contract tokenomics creates liquidity and rewards holders with a 10% tax on every transaction, where 5% of the total goes to a locked liquidity pool while the other 5% is distributed proportionally amongst MoonStar holder’s wallets. The BSC blockchain facilitates static farming of MoonStar tokens in Ethereum based wallets, such as MetaMask or Trust Wallet.

Uses
MoonStar originated with other BSC tokens as a new approach to token farming and deflationary currency. The coin began as a supply vs. demand experiment and transformed into a full utility token. The coin burn was noted as a strategic anti-inflationary measure to help the value of the token not become drowned out by its supply. The MoonStar transactions and holder statistics are found in the BscScan Explorer. Pancake Swap V1 is the larger liquidity pool for MoonStar and has less price fluctuation with transactions. Pancake Swap V2 is a smaller liquidity pool and has more price volatility with MoonStar transactions. One key use of MoonStar is generating revenue by holding since every buy or sell transaction of MoonStar gives 5% distributed proportionally amongst all holders. The other 5% of transactions are put into the liquidity pool to stabilize price volatility.



MoonStar is now a community-driven development (CDD) token with the leadership evolving as the community changes. The leadership groups have used social media channels such as Telegram, Discord, Reddit, and Twitter to keep the larger community informed of marketing initiatives, project efforts, and asking for community input.

History
MoonStar launched following other cryptocurrencies such as Dogecoin, Shib Inu, and SafeMoon. The stealth launch was completed using the Pancake Swap exchange and listing on CoinMarketCap resulting in the coin having a significant price increase in the first three days of its existence. The initial exposure garnered roughly 10,000 followers on Twitter and more than 8,000 active Telegram members. The MoonStar team reported product development on multiple NFT series and an app to bring NFTs to the dApp platform. MoonStar reached an all-time high (ATH) of USD $0.00000005 with a market cap of USD $50 million on May 11, 2021, and two weeks later MoonStar was promoted in Times Square, New York City.



The first project and use case was MoonStar Swap which was launched June 2021. MoonStar Swap was functional until it was taken down in 2022.

The MoonStar NFT Store was launched October 2021, but unresolved code issues caused it to be removed shortly after.

Project X was released in December 2021 as a decentralized collaborative community with a charter to develop more products and services for MoonStar.

The MoonStar App was launched April 3rd, 2022, for the one-year anniversary of MoonStar as the first project completed under Project X. It acted as a consolidated tool for anything to do with MoonStar and was kept active until June 2023.

Airdrops of MoonStar using DappRadar have been discussed in the media in April 2024.

A MoonStar NFT Game has been in development since 2021. It has been disclosed in Telegram as a free-to-play web-based game with NFT items that can be sold and bought, where a small percentage of MoonStar tokens are burned with each transaction adding another deflationary mechanism to the MoonStar tokenomics.