Reddit will shut down its blockchain-based community points program on November 8. Reddit said that while there are some opportunities in the program, the resources required are too much to sustain. In addition, changes in the regulatory environment have exacerbated this dilemma. The team has launched or is actively working on some products that are easier to adopt. Community Points was first launched in 2020 to reward users for constructive activity in certain sub-sections, such as getting a large number of comments or upvotes for posts, with the aim of increasing user engagement, and the points earned by users are ERC-20 tokens stored in Reddit Vault crypto wallets. Affected by this news, the price of Reddit community tokens plummeted, with the Reddit r/CryptoCurrency sub-section native token MOON 24H falling by 86.8%, the r/FortNiteBR sub-section native token BRICK 24H falling by 58.8%, and the r/ethtrader sub-sector native token DONUT 24H falling by 57.2%. （CoinDesk）

PANews reported on October 18 that social media platform Reddit will shut down its blockchain-based community points program on November 8. Reddit said that while there are some opportunities in the program, the resources required are too high. The team has launched or is actively investing in some products that are easier to adopt. In addition, changes in the regulatory environment have exacerbated this dilemma. Affected by this news, the price of Reddit community tokens plummeted. Moons (MOON) fell 85%, Bricks (BRICK) fell 67%, and Donut (DONUT) fell 66%.