Coinbase Sparks Low-Cap Altcoin Explosion After Adding Support for New Solana (SOL)-Based Token

2023/02/16 05:00

The largest crypto exchange platform by volume in the US is suddenly adding support for a new Solana-based (SOL) token.

According to Coinbase, Coinbase is adding support for Access Protocol (ACS), a new content monetization crypto project built on top of the smart contract platform Solana.

Coinbase says that customers will be able to start trading the virtual asset on February 15th if proper liquidity conditions are met.

Access Protocol is a Web3 protocol that aims to grant content creators and publishers the ability to create their own customizable paywall, according to its website.

The protocol works by allowing consumers to pool ACS tokens with each other and creators to gain access to their content, which gives everyone involved daily rewards.

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Furthermore, consumers don’t give up ownership of their tokens by subscribing to a creator and are able to move their tokens to new pools as they wish.

“Users subscribe to creator ‘pools’ with the ACS token, unlocking a set of content or services determined by the creator. In addition to receiving content, when you subscribe to a creator pool, both you and the creator split a daily reward… In this system, you can stay in a pool for as long or as little as you’d like, eliminating the need to jump through hoops to cancel your subscription or worry about renewal dates.”

News of the listing sparked a surge in ACS as the token went from $0.00431 to $0.00575 in just a few hours, according to CoinGecko.