Reddit will expand its loyalty program with ETH tokens

by in Cryptocurrency News

Reddit

The social network Reddit has opened a waiting list for expanding its program of rewarding Ethereum-tokens "Community Points" to subreddits of the platform and launched a special information resource.

The initiative has been operating in test mode since May 2020. Members of the r/Cryptocurrency and r/FortniteBR subreddits receive MOONS and BRICKS tokens of the ERC-20 standard, respectively.

The program is deployed on the Rinkeby testnet with the prospect of moving to the main Ethereum network.

Users earn points for creating popular content, moderating, voting, and other forms of contributing to the community. The platform has published standard rules for the accrual of tokens, but subreddits can define their own rules.

Trending: BNB Chain Gets Back to Normal After a Hack Estimated $100 M

Tokens are stored in the Vault wallet created by Reddit and are at the complete disposal of the user. However, the sale or exchange of assets during the beta testing stage is prohibited by the rules of the platform.

"This behavior is very risky - points can be lost or not transferred to the main Ethereum network," - said in Reddit.

Presumably, after the end of the test period, users will be able to trade tokens.