Stakemoon (SMOON) is a decentralized platform that rewards long-term token holders. The platform seeks to solve the problems of cryptocurrency trading space by keeping short-term crypto traders away with a charge of 15% tax. Hence, Stakemoon attracts only long-term or ideal token holders to earn rewards. From the 15% taxation rate, the platform redistributes 10% of the amount to the existing token holders. The liquidity pool receives the remaining 5% of the taxation rate. SMOON also penalizes day traders who make a quick entry and exit into and from the market. Later, the platform distributes the collection of funds as a dividend payment to the users. According to the whitepaper, Stakemoon aims to launch a staking platform that allows genuine token holders to earn rewards.

The platform uses the Stakemoon protocol that redistributes a part of the taxation rate to users, adds another to the liquidity pool, and allocates dividend payments to the token holders. Also, the liquidity pools lock SMOON tokens for a year, and users can view funds publicly as soon as funds arrive in the pool. SMOON holders can earn rewards as long as they have tokens in the Automatic Liquidity Pool.

SMOON is the native token of the Stakemoon platform. The users can use SMOON within the network to make transactions. Moreover, staking SMOON can help users earn a passive income. The platform also plans to burn tokens periodically. Burning refers to the process of sending tokens to a wallet with no private key.

Scott Ryder, the CEO, founded the Stakemoon platform in Q3, 2021. His team also includes James Bason as the CPO, Christa Agius as the Commercial Product lead, and Alkesh Gupta as the Web developer. The total maximum supply of the Stakemoon platform is one billion tokens.