Moderator Elections will be held some time after the Beta launches. Why wait? Members need to earn some reputation first. How can we have elections without knowing a little more about the candidates - beyond what they tell you?
In Narrative, reputation is earned. In the case of moderator elections, the moderators themselves will earn a reputation, but also, the voters. Someone who is Conduct Negative in their reputation, loses their right to vote. As a reminder, the Conduct criteria for reputation is like a tripwire for helping to snag bots and other bad actors. We only want Conduct positive people voting in elections!
Until Moderator elections are held Niche owners are the de facto Moderators.