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Update social networks page
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public/content/social-networks/index.md

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@@ -74,15 +74,13 @@ Users use the platform's native [ERC-20](/glossary/#erc-20) token $MIND to pay f
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## Web2 social networks on Ethereum {#web2-social-networks-and-ethereum}
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[Web3](/glossary/#web3) native social platforms aren't the only ones trying to incorporate blockchain technology into social media. Many centralized platforms are also planning to integrate Ethereum into their infrastructure:
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[Web3](/glossary/#web3) native social platforms aren't the only ones trying to incorporate blockchain technology into social media. Many centralized platforms are also exploring or have experimented with integrating Ethereum into their infrastructure:
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### Reddit {#reddit}
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Reddit has [touted Community Points](https://cointelegraph.com/news/reddit-to-reportedly-tokenize-karma-points-and-onboard-500m-new-users), which are ERC-20 tokens that users can earn by posting quality content and contributing to online communities (subreddits). You can redeem these tokens within a subreddit to get exclusive privileges and perks. For this project, Reddit is working with Arbitrum, a [layer 2](/glossary/#layer-2) network designed to scale Ethereum transactions.
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The program is already live, with the r/CryptoCurrency subreddit [running its version of Community Points called "Moons"](https://www.reddit.com/r/CryptoCurrency/wiki/moons_wiki). Per the official description, Moons "reward posters, commenters, and moderators for their contributions to the subreddit." Because these tokens are on the blockchain (users receive them in wallets), they are independent of Reddit and cannot be taken away.
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Besides using Community Points to unlock special features, users can also trade them for fiat on exchanges. Also, the amount of Community Points a user owns determines their influence on the decision-making process within the community.
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- Reddit previously experimented with **Community Points**, which were ERC-20 tokens users could earn by posting quality content and contributing to specific online communities (subreddits). Users could redeem these tokens within a subreddit for exclusive perks or trade them. For this project, Reddit utilized Arbitrum Nova, a [layer 2](/glossary/#layer-2) network designed to scale Ethereum transactions.
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- The program was notably active in the r/CryptoCurrency subreddit with its "Moons" and the r/FortNiteBR subreddit with its "Bricks". Because these tokens were on the blockchain, they were independent of Reddit once claimed into a user's [wallet](/glossary/#wallet).
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- However, **Reddit [sunsetted the Community Points program](https://www.reddit.com/r/CryptoCurrency/comments/17a33ql/reddit_is_officially_deprecating_community_points/) in late 2023**, citing scalability and resource challenges. While the tokens still exist on the blockchain, Reddit no longer actively supports or integrates them into its platform features.
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## Further reading {#further-reading}
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### Communities {#communities}
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- [r/CryptoCurrency subreddit](https://www.reddit.com/r/CryptoCurrency/)
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- [r/CryptoCurrency subreddit](https://www.reddit.com/r/CryptoCurrency/)

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