Reddit is removing its current coins and awards system on September 12th. Users will no longer be able to buy awards like Reddit Gold to give to other users’ posts. Reddit says the current awards system is too cluttered and confusing, so they plan to introduce a new simpler system in the coming months that will allow users to reward each other in a more meaningful way. Many users are unhappy about the removal of the awards system without a replacement ready. Some are also frustrated that Reddit is not providing compensation for the coins users have already purchased. While details of the new system are vague, it appears Reddit may allow users to cash out their gold and karma for real money.
From the funding aspect, that makes sense. From a user perspective, I always found Gold (or especially any of the other rewards) quite distracting. Being human, my eye is drawn to the metals along with the judgment that came with it, like this must be a good quality well-received post before even reading it. Often, it was just a joke though or some popular opinion without too much depth. I really hope Lemmy does not incorporate rewards for this reason.