The worth of these tokens has, predictably, fallen off of a cliff, as CoinDesk reports drops of between 60 and 90 %. Some Reddit posters claim hundreds of {dollars} in worth disappeared from their wallets instantly, whereas others are pointing at transactions made simply previous to Tuesday’s announcement that they suppose are suspicious.

Community Points will go away by November eighth. According to the announcement, the admin mentioned that the corporate shutting down Community Points as a result of “there was no path to scale it broadly across the platform.” While the moderators and communities that supported the characteristic “have been incredible partners,” the admin mentioned that “the regulatory environment has added to scalability limitations.” The admin added that Community Points “wouldn’t migrate well” to the up to date reddit.com expertise “without an outsized commitment to resources.”

Instead, the corporate plans to concentrate on “more scalable programs” just like the lately launched Contributor Program, which can allow you to flip Reddit gold into actual cash, the admin says. When Community Points are formally sundown, you gained’t see them in your Vault on the Reddit app.