Reddit to Scale its Community Points System Using Arbitrum

  • Arbitrum was chosen as the winner of Reddit’s “Scaling Bake-Off”, and will now be used to upgrade the platform’s two Ethereum-based tokens.
  • The integration will remain on the Rinkeby testnet for a while, after which it will be migrated to the scaling network.
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Reddit’s “Scaling Bake-Off” competition has finally been completed, with the social platform choosing Arbitrum as the one to upgrade its Community Points system, Reddit said in a post shared with The Chain Bulletin on 22 July.

According to the announcement, Arbitrum was selected to scale Reddit’s Ethereum-based Community Points system amongst 21 other entrants in the competitions, amongst which were Solana, StarkWare, and Polygon. Reddit further explained in the post that Arbitrum covered many of its requirements, such as being decentralized, developer-friendly, and having a wide ecosystem support. The post reads:

“After significant research and in-depth reviews of multiple projects, we found Arbitrum’s optimistic rollups to be the most promising scaling technology for Community Points. Today, we are launching our own Layer-2 rollup using Arbitrum technology.”

Reddit first introduced its idea for a Community Points system last year, when it released the $MOONS and $BRICKS tokens to its /r/Cryptocurrency and /r/FortniteBR subreddits on a testnet version of Ethereum. The ERC-20 tokens can be earned by users through quality comments and content, and then be used for things such as exclusive badges, custom emojis, and GIFs. Shortly after, the platform launched its “Scaling Bake-Off” competitions to find a solution to bring its tokens to the Ethereum mainnet.

While Arbitrum’s integration will remain on the Rinkeby testnet initially, the $MOON and $BRICKS tokens will eventually be migrated to the scaling network. Reddit also warned that during the migration — which can take several hours — users will not be able to use their tokens, and that updates will be posted to each community after it has been completed.

Related Coverage
Reddit to Shut Down Community Points Feature
  • Launched in May 2020, the Community Points feature allowed Reddit users to earn points in the form of ERC-20 tokens through positive engagement.
  • After the news broke out, the price of several Reddit-based tokens quickly crashed, with r/CryptoCurrency’s MOON going down by 85%, and r/FortNiteBR’s BRICK by 50%.
October 18, 2023, 2:32 PM
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OpenSea to Launch Support for Arbitrum
  • The NFT marketplace revealed that creators will be able to set the fees for selling NFTs on Arbitrum starting Wednesday.
  • OpenSea recently launched a new “immersive” drop experience, called SeaDrop, which provides NFT creators with customizable drop pages.
Reddit Partners With The Ethereum Foundation
  • Reddit has entered into a formal partnership with the Ethereum Foundation.
  • The two will work on developing the technology needed to launch Community Points and other Reddit projects on Ethereum.