Saga phone users were in for a surprise as they received a generous airdrop from Access Protocol, a crypto publishing platform, in the form of 100,000 ACS tokens, valued at $250. The airdrop added a new twist to the Saga phone narrative, which gained unexpected popularity due to exclusive airdrops, depleting the entire stock after traders realized the meme coins included with the phones were enough to cover the device's cost during the BONK rally.
Despite a subsequent decline in the value of BONK by over 30%, making the 30 million BONK associated with each phone less valuable than the device itself, the Solana ecosystem continues to attract attention. Access Protocol's ACS token, received in the airdrop, serves as a payment method, enabling holders to access various crypto-themed content. Holders can stake their ACS with content creators for newsletters, AI-generated anime, headline feeds, and more on the Access Protocol platform, or they can choose to sell them. The DeFi markets for ACS witnessed a significant trading volume of $16 million on Tuesday, with notable sell-side pressure leading to a 6% dip in the token's value on its busiest trading day.
Interestingly, ownership of the Saga genesis NFT, the key to receiving airdrops, indicates that less than 3,500 out of the 20,000 Saga phones in circulation have been fully activated. This suggests that many Saga owners are yet to set up their wallets, preventing them from participating in or liquidating the free token airdrops. The ongoing saga of Saga phones and the associated airdrops continue to shape the narrative of unexpected success within the Solana ecosystem.
