The social network Reddit opened a waitlist to expand its Ethereum-token reward program “Community Points” to the platform’s subreddits and launched a dedicated information resource.
In test mode, the initiative has been operating since May 2020. Members of the subreddits r/Cryptocurrency and r/FortniteBR receive tokens MOONS and BRICKS, respectively, of the ERC-20 standard.
The program is deployed on the Rinkeby testnet, with a view to migrating to the Ethereum mainnet.
Users earn points for creating popular content, moderating, participating in votes and other forms of contribution to community life. The platform published standard rules for token accrual, but subreddits can set their own norms.
The tokens are held in Reddit’s Vault wallet and are fully at the user’s disposal. However, sale or exchange of assets during beta is prohibited by the platform’s rules.
“This kind of behavior is very risky — points can be lost or not transferred to the main Ethereum network,” Reddit said.
Presumably, after the testing period ends, users will be able to trade the tokens.
As reported, for scaling the program Reddit chose the Ethereum layer-2 solution Arbitrum.
Subscribe to ForkLog news on Twitter.