Access Protocol Airdrops $250 in ACS Token to Saga Phones After BONK Buying Spree

ACS saw its busiest-ever day of trading following the 100,000 token airdrop.

AccessTimeIconDec 19, 2023 at 7:31 p.m. UTC
Updated Mar 8, 2024 at 6:56 p.m. UTC

The free crypto train is continuing to roll for Saga phone owners, who on Tuesday began receiving tokens worth $250 from crypto publishing platform Access Protocol.

Access Protocol tweeted that it was giving all owners of the Solana-centric phone 100,000 ACS tokens, continuing the trend of exclusive airdrops that have helped the once-struggling cellphone turn into an unexpected sellout.

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  • During last week's brisk BONK rally traders realized Saga phones came with enough meme coins to pay for the $600 phone. This triggered a buying spree that depleted Solana Mobile's entire stock of Saga phones.

    While BONK has since slid over 30% – rendering each phone's 30 million BONK worth less than the cost of the unit – more projects in the Solana ecosystem have lined up for airdrops of their own.

    Access Protocol's ACS token is a form of payment that holders can use to gain, well, access to a wide range of crypto-themed content. Holders can "stake" their ACS with the content creators hawking newsletters, AI-generated anime, headline feeds and such on the Access Protocol website.

    Or, they can sell them. At press time on Tuesday the DeFi markets for ACS had seen $16 million in trading volume, with heavy pressure on the sell side. The token fell 6% on its busiest-ever trading day as Saga owners began liquidating their free tokens.

    Ownership of the all-important Saga genesis NFT – the proverbial ticket for receiving these airdrops – suggest that less than 3,500 of the 20,000 Saga phones in existence have come fully online yet. In other words, many Saga owners haven't set up their wallets yet, meaning they can't receive – or sell – any airdrops.

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    Danny Nelson

    Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.