What Is MoonStar (MOONSTAR)?

MoonStar is a community-driven DeFi cryptocurrency designed to reward holders through an effortless yield and liquidity generation protocol. The currency rewards its token holders for holding the tokens and participating in a voting process.

The asset works on three core driving principles—transparency, safety, and evolution. MoonStar aims at unlocking liquidity in smart crypto assets through an end-to-end decentralized ecosystem improving on current tokens. The currency seeks to increase transaction transparency within businesses by offering a real-time and detailed log of all transactions. Apart from this, every time a token holder locks a portion of their position, 5% of its share aims to be distributed among all other wallets, rewarding users with more free shares.

MOONSTAR is the native token of the MoonStar platform that runs on BEP20 of the Binance Smart Chain. BEP20 is a token standard of BSC (Binance Smart Chain) that extends to the ERC-20 network.

There was an initial burn of approximately a trillion (0.4%) MOONSTAR tokens after the release of MoonStar. Cryptocurrency burning is when a fraction of tokens are sent to a wallet with no private key. This means the tokens are lost permanently. Tokens are usually burnt to reduce availability and increase market value. Ten trillion MOONSTAR coins were burned in total.

Also, 10% of each transaction gets redistributed, in which 5% goes to holders and 5% toward liquidity. Besides this, 3% of the share of all transactions goes to the development team of MoonStar.

History of MoonStar (MOONSTAR)

MoonStar was first conceptualized by an anonymous team of developers who forged their way into the cryptoverse (blockchain-based universe). The platform is now driven by the community. The total supply of the currency is 1,000 trillion MOONSTAR coins.