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Access Protocol, the digital content monetization platform — adopted by crypto content platforms such as The Block, CoinGecko, CryptoBriefing, and is set to go live on Feb. 15.
Access Protocol goes live
Following a community AMA on Twitter, the project will launch on the Solana blockchain with listings on MEXC, Gate.io, Coinbase, and ByBit at 5 PM UTC on Feb. 15 for the native ACS token.
At launch, the ACS will have its inflation set to 2% and “slowly scaled to 5% over the coming months.” In the future, the community will manage the inflation level, according to the launch Medium article.
“Decision-making will progressively be decentralized with on-chain governance by ACS token holders.”
The platform’s goal is to replace the web2 paid subscription with an ownership model whereby customers receive rewards and have a vested financial interest in the success of the creators they support.
“Creating a multidimensional platform for audience engagement. Layering in value-add strategies like NFT drops, exclusive event access, bonus features and other incentives, further strengthens the relationship between creator and consumer.”
The creator community for Access Protocol is currently permissioned but will evolve “from a whitelisted creator onboarding process to a permissionless one” over time.
The protocol aims to remove ads as the primary revenue stream for digital media outlets — which can lead to “low-quality content” and “misaligned incentives.” Paywalls have become increasingly common among global news outlets as companies shifted from print to digital media. For example, a Bloomberg news subscription costs ?199 per year to access daily news articles.
CryptoSlate x Access Protocol
will be launching a new product for readers in the first quarter of 2023, leveraging the Access Protocol platform. Users can begin staking tokens today and will receive access upon our new product going live.
The desire to reduce the friction created by legacy paywalls is part of the reason for to integrate Access Protocol for Edge members. With Access Protocol, users can lock ACS tokens in a creator pool and share in the revenue generated by the staking mechanic.
The more tokens a user stakes to their chosen creator, the higher the rewards, removing the ‘give-and-take’ nature of traditional subscriptions. Furthermore, can directly reward supporters with airdrops, exclusive token-gated events, and much more.
Access Protocol contract addresses
During the AMA, the Access Protocol team mentioned that they had had issues with bad actors attempting to scam users during the airdrop. The official contract addresses for Access Protocol are as follows:
- Deployment contract: 6HW8dXjtiTGkD4jzXs7igdFmZExPpmwUrRN5195xGup
- ACS token contract: 5MAYDfq5yxtudAhtfyuMBuHZjgAbaS9tbEyEQYAhDS5y
To interact with Access Protocol, users require ACS tokens which can be staked through app.accessprotocol.co. Coin Gecko users who converted CoinGecko Candies into ACS tokens would receive an airdrop on Feb. 15 if they completed the required steps before Jan. 31.
The future of the protocol
In the coming weeks, Access Protocol will receive the following updates:
- Deployment of our independent creator platform, Access > Scribe
- Details on multi-chain rollouts on Starknet and Polygon
- Additional publication and creator features for the Access Application
Access Protocol’s CEO, Mika Honkasalo, was a guest on the SlateCast recently — in which he outlined the vision of the platform and the difference between a traditional subscription and an Access Protocol staking pool.
Liam 'Akiba' Wright
Editor and Producer at CryptoSlate
Also known as Akiba, Liam is a journalist and editor of Blocklight at CryptoSlate. He believes that decentralized LEDGER technology has the potential to make widespread positive change. He predicts the next 10 years will bring in a dawn of a new age of technological innovation.
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