We've added in a new badge system so it's ready for our competition. You can see the small selection of badges we have here:
Badges show on your profile page (if you have at least one) and lots of them come with reputation bonuses.
I'll be adding lots of new badges, if any of you have any ideas post them here!
All badges should be designed to promote good content and feature discovery on the site (eg, no negative badges!)
Examples of other ones we will be introducing:
A bronze badge for leaving your first comment
A bronze badge for your first comment upvote
A bronze badge for your first forum post
A gold badge when you hit 3,000 posts
Anyway, if you have any ideas let me know!