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Reddit has released its own Ethereum-based tokens to reward its users



Reddit has announced the launching of the Community Points, ERC20 tokens based on Ethereum that offer users a way to earn money.

The official presentation published on its website begins by stating that, at first, the Internet was a free border, a land of openness, creativity and possibilities, where the first users came together in free and open communities, which were later replaced by platforms loaded with advertising, which spy, manipulate and censor.

According to Reddit, this former free border is now in ruins, and the Internet is dominated by closed platforms that catch and monitor people.

The question Reddit asks is:

"Is this how the Internet ends? Or will people find a way to regain control? ”

The answer to this question is that, with the right tools, people can free themselves from these limits, claim the legitimate ownership of this environment and rebuild stronger and more independent communities, even more than before, where they can freely express themselves, collaborate in decisions and determine your own future.

The dream, therefore, is to bring back the times of the free border, with different, prosperous and independent online communities. In summary, a new dawn for the Internet, which can be free again.

The first step Reddit takes in this direction are these Community Points, tokens created specifically to encourage the creation of quality posts and comments.

How do community points work?

These points can be used to pay for premium features or as a measure of reputation within the community and will be distributed as one reward users in based on your contribution to your favorite channels, in amounts decided by the community itself.

They can also be transferred to the Vaults of other users, or to any Ethereum wallet.

Community points are managed through a set of smart contracts and wallet transactions require payment for gas. Since the majority of users currently do not have ETH, for the moment, Reddit will cover this cost in the internal Vault.

Testing has already started in two specific communities, r / Cryptocurrency and r / FortNiteBR, making it possible to create a Vault, the local non-custodial wallet on Reddit.

The tokens of these two communities have been called moons and bricks, respectively.

At the moment it is not yet possible to see the balances of the tokens held by other users, but Reddit plans to make the process more transparent by adding the total balance shown next to each user's name.


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