Irresistible arbitrage opportunity: Airdrop value exceeds phone cost, boosting Saga phone sales by 10x in 48 hours.
Solana’s previously underperforming Saga smartphone has experienced a sudden and overwhelming surge in sales.
This unexpected development is attributed mainly to the growing fascination with BONK, a meme coin on the Solana blockchain.
Solana’s Saga Phone Sales Skyrocket with BONK Airdrop
This unique situation began with an announcement in June about an airdrop of 30 million BONK tokens offered exclusively to those who download the Bonk app through the Saga phone dApp store.
This offer has become especially lucrative due to the recent BONK market value increase. The value of the airdrop now stands at around $926, exceeding the phone’s selling price of $599 by $327.
This difference has created an irresistible arbitrage opportunity where the value of the airdrop surpasses the cost of the phone itself, which has drawn scores of buyers to the Saga phone, boosting its sales by more than tenfold in just 48 hours.
Raj Gokal, co-founder of Solana, reported this increase in sales on social media, noting that the phone is on track to sell out before the year’s end.
The surge is so substantial that Solana’s other co-founder, Anatoly Yakovenko, has considered raising the phone’s price.
The Saga phone initially had poor sales figures and bleak prospects and has undergone a remarkable turnaround.
The blockchain-enabled smartphone, designed with features for securely storing crypto on its hardware, was once priced at $1,000 but saw a cut to $599 due to its poor performance after its launch in the market.
Airdrop Frenzy Ignites Community Buzz on Discord
BONK, Solana’s dog-themed counterpart to Dogecoin, has played a pivotal role in the resurgence of interest in the Saga phone.
On December 15, an X user @NFTflooooo who recently purchased the Saga phone took to the platform to share their experience with the 30 million Bonk claim.
This trend has been mirrored in the Saga Discord server, where new members have eagerly discussed their recent phone purchases and the anticipated BONK airdrop.
Speaking on the Discord server, someone who claims to be an employee from Solana Mobile clarified the process for claiming the airdrop.
The BONK airdrop is accessible by downloading the BONK app from Saga’s custom app store, a platform tailored for cryptocurrency applications. To qualify for the airdrop, individuals must own a Saga phone and mint a “Genesis token” via the dApp store.
“The bonk drop is NOT forever, at some point that promotion will end,” the employee named Jax further stated. The airdrop claim is currently live, with the end date to be determined by the BONK team.
