In today's post I want to talk about Moons, the cryptocurrency of the r/cryptocurrency subreddit. To be more precise I want to show you how toll sell Moons for ETH or other cryptocurrencies. At the time of writing one MOON is trading for 0.112 USD.
Sell r/cryptocurrency MOONs - Requirements
For this whole process to work you need to have a couple of requirements fullfilled:
- Access to your moons from a METAMASK wallet. (Watch this video if you haven't access)
- 1 DAI
- Some ETH to pay for transaction fees
- Some Rinkeby ETH to pay for transaction fees (get some from the faucet)
- Your Metamask set up for the xDAI network (See this article to learn how to do it)
If you have met all of these requirements you can begin with the actual process.
Exchanging your MOONs
First of all make sure that your ETH, the DAI and the MOONs are all in one address. Your moons will be on the Rinkeby testnet, but need to be under the same address as your DAI, that's why I recommend to transfer your moons to another wallet that also contains your ETH and DAI. Once you have done this you can proceed to the next step.
1.First of all we are going to use this tool: http://moon-exchange.herokuapp.com/. It allows us to exchange or MOONs to xMOONs, a MOON equivalent on the xDAI network. For this step set your Metamask to Rinkeby network.
Simply go to the website, click on 'exchange' and type in the amount of moons that you want to exchange. If you do this for the first time it will ask you to approve the contract, simply allow the transaction, wait until it is confirmed and then you will receive the prompt for the actual transaction to exchange the moons.
2.You now have transferred MOONs to the xDAI network. The next step is to get some xDAI to be able to make transactions on the network. For this step change your Metamask to the Ethereum mainnet.
Open the same page as before, simply this time set "From:" to DAI and "To:" to xDAI. This time the transaction could cost some cents, but you only have to do it once.
3.Now you have your MOONs on the xDAI network and you have some xDAI to do transactions. Set your Metamask to the xDAI network. The next step is to go to Honeyswap: https://honeyswap.org/#/swap (which is an Uniswap fork) and to to the actual exchange.
Simply choose xMOON as the input currency and xDAI as the output currency. Approve xMOON if you haven't yet and click on swap. Make sure to set a GWEI price of 1. Usually Metamask should do this automatically, but sometimes it doesn't. The transaction should be nearly instant. You may raise the slippage tolerance to make sure that the transaction goes through, but it's not really needed.
4.You are now basically done with the swap. Keep your Metamask on xDAI network. To get ETH or any other Ethereum token from the xDAI you simply go to http://moon-exchange.herokuapp.com/ again and this time swap xDAI for DAI.
5.Now you should have received DAI on the Ethereum mainnet. You can simply use Uniswap or any other exchange of your preference to sell the DAI for ETH or other tokens.
I hope I could have helped you with this article. If I made any errors or if you have any questions feel free to leave a comment and I'll try to help as soon as possible.
