The ACS token from Access Protocol, distributed in the recent airdrop, functions as a means of payment that holders can utilize to gain access to a wide variety of crypto-themed content.
By Bhushan Akolkar
Edited by Julia Sakovich
Updated
3 mins read
In a surprising turn of events, Saga phone owners are receiving an unexpected windfall, with crypto publishing platform Access Protocol distributing ACS tokens worth $250. The platform announced the airdrop, providing all Solana-centric phone owners with 100,000 ACS tokens.
Access 🤝 @solanamobile ecosystem 🪂
The first of many to airdrop Saga users, old and new.
Here is 100,000 ACS, a modest contribution to the Saga Retirement Challenge.
— Access Protocol (@AccessProtocol) December 19, 2023
This follows the recent trend of exclusive airdrops that contributed to the unexpected success of the once-struggling Saga phone, which quickly sold out after traders realized the phone’s value was covered by the accompanying meme coins.
Last week’s rally in BONK prices triggered a buying frenzy, leading to the depletion of Solana Mobile’s entire stock of Saga phones. Although BONK has experienced a subsequent 30% decline, diminishing the value of each phone’s 30 million BONK, other projects within the Solana ecosystem are queuing up for their own airdrops.
Access Protocol’s ACS token, distributed in this latest airdrop, serves as a form of payment that holders can use to access a diverse array of crypto-themed content. Holders have the option to “stake” their ACS with content creators on the Access Protocol website, gaining access to newsletters, AI-generated anime, headline feeds, and more.
Alternatively, owners of ACS tokens have the option to sell them. As of Tuesday, the DeFi markets for ACS witnessed a trading volume of $16 million, with significant selling pressure. The token experienced a 6% decline on its busiest trading day, reflecting Saga owners beginning to liquidate their free tokens.
The ownership of the pivotal Saga genesis NFT, essentially serving as a ticket for airdrops, indicates that less than 3,500 of the 20,000 Saga phones in existence have been fully activated. This implies that numerous Saga owners have yet to set up their wallets, preventing them from receiving or selling any airdrops.
The BONK price has resulted in a strong demand for the Solana Saga, with its price shooting to a premium of $5,000 on eBay earlier this week. The Saga phones come with a total of 30 million BONK tokens, a Solana-based memecoin.
In addition to the token, the Saga phone presents extra benefits, including a complimentary one-month subscription to Helium Mobile and a complimentary toy. Furthermore, the Saga’s decentralized application (dApp) Store features exclusive advantages and rewards specifically designed for Saga holders.
The owners of Solana Saga phones might receive several airdrops over the next 12 months. Earlier this week, the Helium Mobile crypto joined BONK in the crypto market rally. It will be interesting to see whether Access Protocol’s ACS token will see a similar price rally.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
