Sales of Solana Phone Surge as Traders Chase BONK Arbitrage

The
once-struggling
Solana
phone
is
turning
into
a
sellout.
And
the
memecoin
BONK
is
almost
certainly
the
reason
why.

Arbitrage
traders
appear
to
be
chasing
a
30
million
BONK
token
airdrop
that’s
available
to
every
owner
of
the
Saga
phone.
At
current
prices
that
much
BONK
is
worth
nearly
$700
for
a
phone
that
costs
$599.

“Saga
sales
have
>10x’d
in
the
past
48
hours,
and
are
now
on
track
to
sell
out
before
the
new
year,”
Solana
co-founder
Raj
Gokal

tweeted
midday
Thursday.
The
surge
is
so
pronounced
that
Gokal’s
counterpart,
Anatoly
Yakovenko,

tweeted
they
needed
to
raise
the
price.

The
euphoria
around
BONK
–
Solana’s
dog-themed
equivalent
to
Dogecoin
–
has
led
to
a
turnaround
story
for
Saga,
which
just
one
week
ago
faced

dimming
prospects
amid
forgettable
sales
figures.
Saga
is
a
blockchain-enabled
smartphone
with
special
features
for
storing
one’s
crypto
securely
on
the
phone’s
own
hardware.

The
Saga
Discord
server
exploded
on
Thursday
with
newcomers
declaring
they
just
bought
the
phone
and
wanted
to
get
the
airdrop.

According
to
posts
on
the
Discord
server,
the
BONK
airdrop
is
available
to
those
who
download
the
BONK
app
from
Saga’s
crypto-forward
custom
app
store.

“When
you
physically
have
the
phone
you
will
be
able
to
mint
‘Genesis
token’
through
the
‘dApp
store,
[this
token
is
eligible
to
claim
the
bonk
drop,”
said
a
user
who
identified
themselves
as
an
employee
of
Solana
Mobile
in
the
Discord
server.

“The
bonk
drop
is
NOT
forever,
at
some
point
that
promotion
will
end,”
the
user,
whose
screen
name
was
Jax,
said
in
the
Discord.
“As
of
right
now
the
claim
is
live
and
is
up
to
the
bonk
team
on
when
they’d
want
to
close
it.
No
end
date
yet.”