Reddit starts ‘waitlist’ for its upcoming crypto rewards programme; details

Reddit’s Ethereum-based crypto rewards initiative is called Community Points.

The crypto programme gives Ethereum-based crypto tokens in return of the number of up-votes users have earned on their posts that gets them “karma points”. (Credit: Reuters)

In order to let more people become part of its upcoming crypto rewards programme, Reddit has started a new “Waitlist” feature. The new feature will allow the users to evince their interest in Reddit’s Ethereum-based crypto rewards initiative named “Community Points”. The crypto programme gives Ethereum-based crypto tokens in return of the number of up-votes users have earned on their posts that gets them “karma points”.

The Community Points programme was introduced by the social networking platform in December 2019 under which token rewards named “Donuts” were launched in the r/Ethtrader subreddits. The same programme is now being made accessible as an opt-in feature for subreddits across the platform. Under the new initiative, users will also be able to exercise the option of earning Community Points by contributing to a subreddit with unique and insightful content that could help increase the number of up-votes. Another way to grab Ethereum-based cryptocurrency tokens is through volunteering to moderate the community, various news reports said.

As per the company announcement, both users and moderators can select the ‘Waitlist” feature before the company launches its Community Points programme Waitlist feature and goes live. The Waitlist feature is being tested, at the moment, in beta mode. The company has also urged its beta users to remain cautious as selling, exchanging and trading these crypto tokens for physical currencies as that violates the rules of the website. The company added that once the reward system has been launched for the common users, the Ethereum-based tokens will be eligible to get swapped, held or traded on the crypto trading platforms.

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