  MuOn-decay MEdium-baseline NeuTrino beam facility (MOMENT) is a recently
proposed neutrino oscillation experiment that is currently under consideration
in China. Based on a novel accelerator concept, MOMENT is capable of delivering
15 MW neutrino beam produced with the decay of positively and negatively
charged muons. In this study, the physics performance of MOMENT is briefly
reviewed in its baseline setup, involving a 150 km baseline length and large
gadolinium-doped Water Cherenkov detector. The prospects are discussed in the
case of precision measurements on the Dirac CP phase $\delta_{CP}$, which
MOMENT is shown to be able to measure by about 8$^\circ$...18$^\circ$
resolution at 1$\sigma$ CL. It is examined how MOMENT performs as an
independent experiment and also as a complementary facility to the future
superbeam experiments.
