Today Reddit has announced the launch of its donor program, which is the latest move in its attempt to bring users back to the platform and grow it following the controversy surrounding its API changes earlier this year. The purpose of the program is to reward users who post quality content to the Reddit community.
The amount of karma a user has directly affects how much can be earned, with accounts that have between 100 and 4,999 karma earning $0.90 per gold, rising to $1 per gold once the account goes over 5,000 karma. Users need to earn 10 gold within a 30 day period to be eligible for payment. Otherwise it rolls over to the next period.
Reddit provided a brief summary of how the program works, and what the account requirements are to be eligible for the contributor program on its website:
How It Works
- Donors contact the program to see if they qualify.
- Redditors give gold to posts, comments or other contributions that they think are actually worth something.
- Eligible contributors who earn enough karma and gold can be paid in cash.
- Top contributors earn top dollar. The more karma and gold donors earn, the more money they can get.
- Earn gold and karma every month
- Be over 18 and live in the US
- Provide authentication information
- Only Safe for Work quality donations
- Account age must be 30+ days
Payments from the program will be made on a monthly basis in US dollars, with all participants required to complete the necessary tax paperwork to be able to receive money from Reddit posts they submit under the new program.
Additionally, Reddit requires users to have a verified account with Stripe to receive payments. This is Reddit’s preferred payment partner which it says is “subject to change at our sole discretion.”