Reddit, the popular online platform, has announced that it is phasing out its coins and awards system, much to the dissatisfaction of its users. The company stated that it aims to simplify its platform and address user concerns about the complexity of awarding content.

While Reddit plans to introduce a new rewards system, no specific details or launch date have been provided yet. As of today, 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 rewards system before implementing the new one has caused frustration among users, who feel that Reddit is removing a popular feature without a suitable replacement in place.

Previously, Reddit users could purchase coins and use them to give awards to other members as a way of recognizing their contributions. These awards appeared as icons on posts and included various types such as Reddit Gold, Silver, Platinum, Ternium, and Argentium. Currently, there are over 50 different types of awards on the platform.

Reddit acknowledges that the existing awards and coins system needs to be rethought and improved. The company aims to create a simpler, more user-friendly rewards system that empowers users to acknowledge high-quality contributions. However, Reddit has yet to reveal specific details about the new direction it plans to take.

The decision to discontinue the current rewards system follows recent criticism faced by Reddit for charging developers for API access. This move led to protests from multiple subreddits and moderators. While some users express disappointment in Reddit’s decisions, the company remains steadfast in its choices, and it is uncertain whether there will be any changes to the API pricing structure.

Reddit has assured its users that rewarding content and contributions will continue to be a core part of the platform, and more information about the new rewards system will be shared in the coming months. The company hopes that the revamped system will be simpler, more intuitive, and provide meaningful ways to recognize and reward high-quality contributions on Reddit.

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