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Reddit's Community Points, best known as its blockchain-based rewards, is saying goodbye. One of the most famous features of Reddit is its Community Points, but soon, this blockchain-based rewards program will be saying its goodbye to the world as the company deems it so.
While the main attention of the crypto market is currently on the ongoing spot Bitcoin ETF approval saga, most missed out on what is going on with Red
Tokens based on subreddit reputation saw dips over 85% after the announcement.
Citing scaling issues, Reddit is shutting down its blockchain-based Community Points in favor of prioritizing other rewards programs.
"Though we saw some future opportunities for Community Points, the resourcing needed was unfortunately too high to justify," Tim Rathschmidt, Reddit's…