https://www.reddit.com/r/CommunityPointsHelp/comments/gj7aed/community_points_faq_english/
created by AdamSC1 on 13/05/2020 at 20:41 UTC*
8 upvotes, 5 top-level comments (showing 5)
The beta of the Community Points program is on the Rinkeby network. If you do not know what that means - do not remove your Reddit community points tokens from your Reddit Vault by trying to integrate any other Ethereum wallets, or by sending them to smart contracts.
Community points are a new initiative by Reddit. They are points that represent ownership in a subreddit.
Each community will get their own community points that they get to name and design.
Community Points are a type of "Ethereum" "token" that is stored on a "blockchain" - just like Bitcoin!
This means that once you earn the tokens you own them.
You can store them in your "Reddit Vault" or a traditional Ethereum wallet.
There are a total of 250M of each type of community point.
So the /r/Cryptocurrency subreddit will have a max of 250M "$MOON" tokens, but, another subreddit will have a maximum of 250M of their own token.
No. To start there will be only 50M of each token. These will be awarded to users based on the posts they've previously made in the subreddit.
The other 250M tokens will slowly be awarded on a monthly basis.
No. The amount of tokens awarded will get smaller each month, this will last until the 250M tokens have been created. The estimated date for that is sometime in 2050.
You'll earn the tokens based on your contributions to the subreddit.
When you make a post or a comment that gets upvoted, you'll earn a portion of the tokens that get distributed by the system that week.
Other users can also "tip" you. This means they will give you some of the tokens they've earned.
You can use the tokens to buy "Special Memberships" for each individual subreddit.
These memberships give you special features on the subreddit. These include:
The "Special Membership" for a subreddit will vary in cost between different tokens.
On the /r/Cryptocurrency subreddit the membership costs 1000 MOONS per month.
When you use your tokens for the "Special Membership" those tokens will be "burned" - which is cryptocurrency slang for destroyed.
This means there will always be less than 250M tokens as they will continue to be used overtime.
Yes.
You'll also be able to use the tokens you've earned to vote in weighted polls, or to send a tip to other users.
Finally, because it is an ERC-20 Ethereum token, you can transfer it to other websites and integrate it into other products. This allows you to buy, sell, trade and use the token anywhere you want.
The "Reddit Vault" is a special section of Reddit's mobile app that allows you to connect to an Ethereum powered wallet. In this section you'll be able to claim your tokens, see your token balances, and redeem the tokens.
Your Reddit Vault sometimes may also be called a "wallet" as this is the common terminology in the blockchain industry.
You can create your Reddit Vault in the Reddit app on iOS and Android.
You'll click on your profile and select "Vault" and it will guide you through the steps.
If you need more detailed instructions you can checkout the detailed instructions
No. You do not have to use Reddit Vault as your wallet - but this does allow you the feature of backing up your wallet to Reddit.
If you want to use a different Ethereum wallet such as MetaMask or Brave Browser, you can import your 'seed phrase' from the creation of that wallet.
This is only recommended for experienced cryptocurrency users.
You can find the instructions to import your existing wallet into your Reddit Vault here
Yes.
If you are creating your first cryptocurrency wallet by using Reddit Vault, you may want to import that wallet into a different software such as MetaMask or 'Brave Browser[1]'.
You can follow these instructions:
Make sure you set your MetaMask wallet or Brave Browser Wallet to use the Rinkeby test network.
A seed phrase is a set of 12 random words that wallet software use to help generate our "public key" and "private key" that make up your wallet.
The seed phrase is the only way to recover a cryptocurrency wallet if you lose our private key.
Your seed phrase should be stored in a secure location. Ideally you should not keep the seed phrase in a picture (on your phone) or in a downloaded file or digital notepad.
It's best to write down your seed phrase, or to use a password manager such as LastPass to store it securely.
No.
If you lose your seed phrase and do not have your private key then no one can help you to recover your wallet or your tokens. They are lost forever.
No.
Once you have claimed you have claimed your points the are in your wallet on the Ethereum blockchain. No one can take those points away from you. Not even Reddit staff.
You will not lose points for downvotes on your comments or on your posts. You will only learn a smaller percentage of tokens in the next week's distribution.
Your public key (also sometimes called your "wallet address") is your address on the blockchain. It is similar to a postal address in that it unique identifies you and allows people to send you blockchain transactions, similar to how someone might send mail to your home address.
Just like a home address, the information isn't private, but, it is sensitive. You probably don't want everyone to have the address.
Your public key will be a long sting of numbers and letters but on Ethereum it will always start with "0x"
A private key is like your password. It is private information that must be kept secure.
You cannot ever change your private key. So if it gets compromised even once you will need to make a new wallet.
Never share your private key with anyone. Ever.
No. Never.
There are no exchanges for these tokens as the are currently on the Rinkeby test network.
Comment by fishy5062 at 14/05/2020 at 21:11 UTC
3 upvotes, 1 direct replies
Have all 50M community points been given out or are they still rolling out? Also, can you earn points from commenting too, or just posts?
Comment by Garwald at 14/05/2020 at 13:38 UTC
2 upvotes, 1 direct replies
How do I gift points to someone?
Comment by Red5point1 at 16/05/2020 at 11:29 UTC
2 upvotes, 1 direct replies
If you need more detailed instructions you can checkout the detailed instructions
but no instructions if we only use desktop website.
Comment by ineedanswersplease11 at 17/05/2020 at 04:01 UTC
2 upvotes, 1 direct replies
How do I view my own vault on pc/browser?
How do I view my history or points gifted or recieved?
Comment by didisheep at 26/05/2020 at 07:49 UTC
1 upvotes, 0 direct replies
Why I don't have Reddit Vault in my iOS app? my app ver is 2020.17.0 BTW I'm not in the U.S.