Reddit is ending its coin and reward systems.
Reddit has announced that it will be discontinuing its coins and awards systems, including Community coins for moderators. Users will no longer be able to purchase new coins, but existing awards and coins will remain available until September 12, 2023. The decision to sunset the current system comes as it recognizes the need to rethink and revamp awards and coins. The company stated that rewarding content and contributions will still be a core part of Reddit’s platform.
Reddit Premium, however, will not be going away, although certain features like the monthly coin drip and Premium Awards will be discontinued after September 12. The company plans to introduce a new direction for awarding that will empower users to reward high-quality contributions in more meaningful ways. Some users expressed their concerns about the removal of features without suitable replacements, while others questioned the handling of existing coins and their value.
Reddit aims to provide more updates on the new awarding system in the coming months. In a separate announcement last month, its Director of Product focused on accessibility and improvements to the performance and quality of the platform for web, iOS, and Android users.
