Reddit x FTX

Reddit x FTX 

to enable community points via FTX Pay

Reddit, a global social media platform, announces a partnership with FTX exchange to enable users to manage their community points via FTX Pay.

Billionaire Sam Bankman-Fried’s FTX will help users understand the concept of crypto and ETH gas fee on Reddit.

Reddit introduced Community Points in 2020 to maintain its engagement on the platform for a long time.

The users who had the best engagement and interaction in the Reddit community are rewarded with community points stored on Ethereum in a “Vault,” which is a blockchain-based wallet.

On Reddit, these community points have become a sign of reputation among users since these are displayed beside the username. In fact, they are considered the elite of the Reddit community as they get community memberships, the right to vote on decisions, reward creators, and send tips.

For Reddit’s partnership with FTX. Users will use FTX Pay to fill eth gas fees to convert their points on-chain. Gas fees will be displayed below the points before the transaction.

If a user doesn’t have enough network fees, then they can use FTX Pay to convert their fiat currency into ETH.

According to the FTX team, this will help people who aren’t involved with crypto to learn how it all works.

Both platforms aim to establish a long-term reputation in the market, and this partnership will definitely contribute to the goal.