Finally social media website Reddit has launched it own cryptocurrency built on the Ethereum Blockchain.
Available Cryptocurrencies are Red MOONS and BRICKS.
What Are Community Points?
community points are points given to redditors by their favourite communities.
The points are used to measure the status of a redditor in the community. It can be spent on reddit premium features.
You can tip other subreddits with your red points.
How Do I Earn Reddit Point For My Work?
Redditors earn red points when they contribute meaningful Information blto the community.
Example: You can earn red point when you post quality and useful contents. Also points are given to you when you give good comments on articles.
In all, it is the community that decides how many points can be given or shared to each user.
What Is Red Vault
The Vault is used to view, spend and receive your accumulated red points. The vault can be found inside the Reddit app and the website as well.
Users can also use Ethereum tools to access their vault if the want
How Do I Claim My Points After Earning Them?
For you to claim or redeem your red point, you need to register your reddit vault (external ethereum wallet).
After that, the vault will send your red point contribution score on your behalf to a smart contract on the Ethereum Blockchain which will verify and issue the points back to your vault.
You only have up to six (6) months to claim your red points after the final data is published by the Reddit Team before it expires. After six months, your red points will expire if not claimed.
How Can I Manage My Red Vault?
You can manage all your accumulated red points from subbreddits right inside the vault by claiming your earned points.
What Can I Spend My Red Points On?
Red points can be used to purchase premium contents on the reddit Platform. In the future you can trade or exchange for other tokens.
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