In January, we've explored several ways of earning cryptocurrencies without any risk of investing with the story "Here's How To Earn Cryptocurrency In 2023 With No Investment".
One of the methods mentioned was the CoinGecko Candies, a reward anyone can receive by just signing up to Coingecko with an email and claiming candies daily.
Coingecko is occasionally distributing rewards as tokens and NFTs with a meaningful value. This is also the case of Across Protocol ($ACS), the token that Coingecko airdropped to thousands of eligible participants in February.
We staked the ACS received, as the project is one to watch out for with enough potential for the coming years, and here's how staking works.
Staking On The Access Ap
Access Protocol is revolutionizing internet content monetization by enabling avenues for digital creators and their audiences.
New and groundbreaking ideas are not rare in the cryptocurrency field, but materializing these ideas into a user-friendly product is hard work that deserves noticing.
Coingecko users had the option to exchange their candy for different token offerings.
Participants received different rewards depending on the option the CoinGecko users claimed.
The rewards were better than expected (8716 ACS tokens), and the token had already attracted public attention as Coinbase officially announced their support and listed ACS on the exchange:
Staking the tokens is obviously the right choice, as the rewards and potential of ACS suggest.
The best part, we don't pass ownership of your ACS tokens, as Access utilizes a Web3 interface where users connect non-custodial Solana wallets to stake and claim rewards.
Holders of ACS tokens can use them on the Access Protocol App, and stake on available options creators provide.
We can select any creator and stake ACS tokens to receive rewards in ACS.
We don't only receive ACS rewards though, but perks and various bonuses like NFTs the creators provide.
For example, the Crypto News website The Block shares its premium content with ACS stakers. Anyone staking ACS a minimum of 20400 ACS tokens gets exclusive access to premium content by connecting their (Solana) wallet with the website.
We supported four creators with 8545 ACS tokens, and claim 17 ACS tokens daily rewards.
Access App user guide link.
Token Details and Market Cap
Access Protocol explains the tokenomics of ACS in this Medium article.
In summary:
- The initial annual inflation rate of ACS starts at 5% of the total
- A 2% burn rate of staking fees counters the token's inflation
- Within five years the circulation will be approximately 100 Billion tokens
- The new ACS tokens are distributed equally to content creators and stalkers.
Price And Market Cap:
At a $163 million market cap, ACS is ranked #211 on market cap index Coingecko.
In Conclusion
During the bear market, interest in crypto is limited, and just a handful of worthy new projects appear.
Access is an example of how the blockchain can improve the field for digital creators, and boost their popularity and results.
The project proves that promotions like airdrops indeed create better terms for the community and reach out to people in crypto that otherwise wouldn't notice the project.
While sometimes handing out tokens can attract the wrong type of community, as people in the field grow in experience and quality, they recognize that there's sometimes a lot more in the project than a token and a small reward.
Utility matters more than blind speculation, with Access Protocol standing as a shining example.
*Cover on Pixabay: link (modified)
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