Social Network Reddit to Transfer Tokens to Arbitrum Nova Network

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Social content platform Reddit has teamed up with the Arbitrum platform and FTX to implement the Community Points program in the second layer network.

Reddit will transfer the tokens involved in the program to Arbitrum Nova. The new solution is designed specifically for gaming and social applications.

Arbitrum CEO Steven Goldfeder has said:

“This is an open, public network where anyone can run points, contracts and apps.”

Well-known DeFi projects like Maker and SushiSwap are also exploring the possibility of launching assets based on Nova.

As part of a partnership with FTX, the FTX Pay payment system will be used to pay for gas and transfer social platform tokens.