Reddit’s popular blockchain-based rewards initiative, Community Points, is set to be discontinued. Tim Rathschmidt, Reddit’s director of consumer and product communications, highlighted the challenges in scaling the program, compounded by evolving regulatory conditions.

The decision underscores businesses’ complexities when integrating cryptocurrency incentives into their platforms.

Reddit to Discontinue Community Points

Launched in 2020, Community Points rewarded proactive participation within chosen subreddits. Essentially Ethereum tokens, these points resided in Reddit’s Vault, acting as a crypto wallet. Once allotted, they were irreversible, as neither Reddit nor its moderators could reclaim them.

Users could spend these tokens on exclusive features such as memberships, which granted animated emojis and distinctive badges. Following their expenditure, the tokens were irrevocably “burned.”

Serving as an emblem of “reputation,” Community Points appeared adjacent to usernames within active subreddits, celebrating the platform’s most significant contributors. Their presence on the blockchain meant Redditors could showcase their “reputation” universally online.

Read more: How to Sell Reddit r/CryptoCurrency Moons in 2023

However, scaling posed significant obstacles. Initially anchored to Ethereum, high transactional fees and restricted bandwidth limited Community Points’ growth.

Reddit’s solution, transitioning to Arbitrum Nova in 2022, aimed to leverage its scaling capabilities while sustaining Ethereum’s foundational benefits. Yet, this also proved in

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Author: Bary Rahma

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