Reddit already has various ways of rewarding good comments and participation, across all its subreddits, but the difference with Donuts is that they are onchain. They are an actual cryptocurrency – tokens that are collectible, tradeable, and fully owned by you.
Donuts are not the first token to grow out of a Reddit community, and they certainly won't be the last. Here is a real world example of being rewarded with crypto for the content you contribute on a social platform, and you can get started now using your Enkrypt wallet.
Join the r/ethtrader subreddit (if you haven't already), and find this banner on the subreddit home page:
After you click 'Start', you'll see a prompt to download MetaMask – but you don't need to, because you already have Enkrypt! 🥳 And Enkrypt supports Gnosis chain, the network that you will need for collecting donuts, natively, unlike MetaMask.
You will also see a 'Create wallet' prompt – again, you don't need to do that if you already created a wallet with Enkrypt. Just click through.
Then you'll get to the part where you connect the wallet. Click 'Connect' – Enkrypt will connect automatically.
Next, you'll need to sign a message verifying wallet ownership. The prompts will say 'Verify in MetaMask' because Reddit doesn't seem to realize that other wallet options exist (but we know better! 😉)
You'll see a pop-up where you will confirm signing the message to prove wallet ownership. This transaction will not require any network fees.
And now you're done! The prompt suggest to track Donuts in MetaMask, but we are going to do that setup directly at the Donut Dashboard here: https://donut-dashboard.com/#/.
When you go to the link, Enkrypt will connect automatically. Donuts exist both on the Ethereum mainnet, and on Gnosis chain. That's because network fees can be high on Ethereum and rewarding community members with Donuts becomes expensive. On Gnosis chain, fees are very low, so most users prefer to manage Donuts on Gnosis. You can hold your donuts on Ethereum and/or on Gnosis, whatever you prefer.
To switch Enkrypt to Gnosis chain, click on 'Add Gnosis Chain to MetaMask'. It won't actually have to be added, because Enkrypt supports Gnosis natively, but this will let the DApp know that the wallet is Gnosis-ready.
Next, click on 'Track Donuts in MetaMask (Gnosis Chain)', and sign a message to confirm adding Donuts as a token in your Enkrypt interface. Once you're done, you'll see the Donut token in your Enkrypt balances on Gnosis.
If you also want to hold Donuts on Ethereum, you can repeat the process and click 'Track Donuts in MetaMask (Ethereum mainnet)'.
Now you'll also see Ethereum-based Donut balances in your Ethereum account.