Reddit has announced its initial plans for how it will share some of its recent funding with users. In September, the site raised another $50 million and promised to give 10 percent back to the community. Then-CEO Yishan Wong said the company was looking into creating its own crypto-currency.
After taking suggestions from users, Reddit is introducing “redditnotes,” which will be given away in a lottery. Users can then use the notes to buy things (presumably on redditgifts), donate and trade.
The company plans to randomly distribute the notes amongst active user accounts in the fall of 2015. Accounts active after Sept. 30 won’t be eligible — that’s when Reddit first announced the project. Some discussion of how the notes will be used is already happening on r/redditnotes: Users hope to tip moderators, buy things on redditgifts and tip other users for useful advice.