Sales of the Solana Saga smartphone are experiencing a remarkable surge, turning around its previous sluggish performance, and the driving force behind this boost is a compelling offer linked to the BONK token. This resurgence is credited to a generous distribution of 30 million tokens for each new owner of the phone, presenting an enticing arbitrage opportunity.
The free distribution of BONK tokens, valued at approximately $700 at current prices, significantly exceeds the phone’s retail cost of $599. This discrepancy has led to a substantial increase in Saga phone sales, multiplying more than tenfold in just 48 hours. Raj Gokal, co-founder of Solana, has confirmed this noteworthy growth in sales, highlighting that the phone may sell out before the year-end.
Wow, what a day 🔥🔥🔥
We've officially SOLD OUT of Saga phones in the US! A huge thanks to everyone who's been part of this journey ♥️
To our frens in Europe, we've still got a few left for you.
Stay tuned for what's next 🫡
— Solana Mobile 🌱 (@solanamobile) December 15, 2023
Anatoly Yakovenko, another Solana co-founder, jokingly suggested the possibility of raising the price of the Saga phone, which Solana had initially reduced from $999 to $599 in August due to lackluster initial sales performance, prompted by the sudden surge in demand.
Solana Benefits from Impressive Growth of Bonk
The recent increase in the value of the BONK meme token, which has witnessed a surge of over 905% in the last 30 days, has significantly contributed to the growing interest in the Solana phone. This rise in BONK’s valuation has turned the Saga phone into a unique arbitrage opportunity, allowing potential buyers to benefit from the free distribution. According to the latest data from CoinMarketCap, BONK is trading at $0.00002823 per unit, and in the last day, it experienced an incredible surge of 91%.
Saga’s Discord server has seen an influx of newcomers eager to acquire the phone and take advantage of the complimentary distribution of BONK tokens. Solana wallets holding the Saga Genesis Token, obtained upon activating the Saga phone, can claim the 30 million BONK tokens through the Bonk DApp, available in Saga’s custom DApp store.
However, it is important to note that the arbitrage opportunity is contingent on the condition that the value of the BONK token remains stable until consumers receive their Saga devices. Given the highly volatile nature of meme tokens, there is a possibility that, by the time new owners claim the free distribution, the token’s value could have changed dramatically.
