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Reddit Negotiates With FTX For Use Of Community Points

The world-famous social media platform Reddit announced that they had reached an agreement with FTX Pay for community Points.

Reddit, one of the popular social networks, has released the Community Points feature recently. The Reddit platform used such a way to encourage users to interact more, participate in voting and tip each other, just like in DAOs.

However, considering this update in the long term, the platform wanted to increase scale within the scope of these local tokens.

In this direction, the Reddit platform, which cooperates with Arbitrum, has started updating the Ethereum mainnet. Announcing a new collaboration shortly after Arbitrum scaling came into effect, Reddit announced that it has agreed with FTX Pay for Community Points transactions.

With this new infrastructure integration, users can pay Ethereum transaction fees using stable currencies. Amy Wu, president of FTX Ventures, made the following statements about the collaboration:

“They need Ethereum for transaction fees that allow users to transact with Community Points on the chain, and FTX Pay enables them to do so.”

Community Points can be redeemed on subreddits like r/cryptocurrency and r/fortnite Cryptocurrencies, while integrating into global communities, offer many alternative uses for both users and cooperate companies.