When you reset a game you will get Karma and Paragon.
Karma: Karma is gained when you reset with more than 35 kittens. Karma gives +10% happiness for having it, and 1% happiness for each
point as well. This does have a diminishing effect to keep it from
becoming too over powering. The exact numbers on the diminishing
effect are currently unknown.
- 40 kittens -> 1.00 Karma
- 50 kittens -> 2.00 Karma
- 62 kittens -> 3.16 karma
- 67 kittens -> 4.13 karma
- 73 kittens -> 5.07 karma
- 80 kittens -> 6.00 karma
- 89 kittens -> 7.02 karma
- 99 kittens -> 8.05 karma
- 110 kittens -> 9.00 karma
- 123 kittens -> 10.03 karma
- 137 kittens ->11.05 karma
- 152 kittens ->12.05 karma
Paragon: Paragon is received for resetting at over 70 kittens.
Every paragon point will give
- 1% global production bonus
- 0.1% storage capacity
Why would you reset?
The reason a person would reset a game is to earn everything faster. Yes you have to start over again, but with all the extra happines, the production bonus and the extra storage capacity everything will go faster.
Also for getting some achievements it is neccesary to reset the game.
Reset or Wipe?
There is a difference between resetting and wiping. When you wipe the game you will destroy all your progress. You won't get any Paragon or Karma points when you do this.
If you reset you do get Paragon points and Karma and you won't lose all your game progress.
NOTE: It'll take some time before you are back at where you are now if you reset the game, don't assume it'll go much more faster.
There is also an achievement
Lotus Eater Machine - Break the cycle of reincarnations - Obtain karma by resetting game
Source
Achievement
Paragon
Karma
As of yesterday, bloodrizer made a change to award 1 paragon point per 1000 in-game years (about 9.26 real-time days). The changelog hasn't been updated; you'd only know about it by checking the latest source code changes.
Some people are reporting on reddit that they're receiving a point too early; that particular bug will probably get fixed soon.
Best Answer
Space Paragon is an attempt to make Hydraulic Fracturers more useful.
Both Hydraulic Fracturers and Oil Wells generate oil. The base oil generation of Hydraulic Fracturers is much higher than that of an Oil Well. The former is also more expensive. This is sensible so far.
However, there are multiple multipliers which can significantly increase oil generation for Oil Well. Before the introduction of Space Paragon in 4.02 or 4.03, these multipliers did not apply to Hydraulic Fracturers. This resulted in Hydraulic Fracturers being almost useless endgame.
Space Paragon fixes this. Most, if not all, of the bonuses to Oil Wells now increase Space Paragon, and thus oil generation from Hydraulic Fracturers.
Some of these bonuses include
I assume the paragon multiplier also helps with space paragon, but I am not sure.