According to CoinDesk, Saga phone owners started receiving tokens worth $250 from crypto publishing platform Access Protocol on Tuesday. The Solana-centric phone users were given 100,000 ACS tokens, continuing the trend of exclusive airdrops that have helped the once-struggling cellphone become an unexpected sellout. Last week, during the brisk BONK rally, traders realized that Saga phones came with enough meme coins to pay for the $600 phone, triggering a buying spree that depleted Solana Mobile's entire stock of Saga phones.
Although 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 access to a wide range of crypto-themed content. Holders can stake their ACS with content creators offering newsletters, AI-generated anime, headline feeds, and more on the Access Protocol website, or they can sell them. On Tuesday, the DeFi markets for ACS saw $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 Saga genesis NFT, the ticket for receiving these airdrops, suggests that less than 3,500 of the 20,000 Saga phones in existence have come fully online yet. This means many Saga owners haven't set up their wallets yet, preventing them from receiving or selling any airdrops.