We have studied the feasibility and scientific potential of zenith observing liquid-mirror telescopes having 20Y100 m diameters located on the Moon. They would carry out deep infrared surveys to study the distant universe and follow up discoveries made with the 6 m James Webb Space Telescope (JWST ), with more detailed images and spectroscopic studies. They could detect objects 100 times fainter than JWST, observing the first high-redshift stars in the early universe and their assembly into galaxies. We explored the scientific opportunities, key technologies, and optimum location of such telescopes. We have demonstrated critical technologies. For example, the primary mirror would necessitate a high-reflectivity liquid that does not evaporate in the lunar vacuum and remains liquid at less than 100 K. We have made a crucial demonstration by successfully coating an ionic liquid that has negligible vapor pressure. We also successfully experimented with a liquid mirror spinning on a superconducting bearing, as will be needed for the cryogenic, vacuum environment of the telescope. We have investigated issues related to lunar locations, concluding that locations within a few kilometers of a pole are ideal for deep sky cover and long integration times. We have located ridges and crater rims within 0.5 of the north pole that are illuminated for at least some sun angles during lunar winter, providing power and temperature control. We also have identified potential problems, like lunar dust. Issues raised by our preliminary study demand additional in-depth analyses. These issues must be fully examined as part of a scientific debate that we hope to start with the present article.