What is Access Protocol? All You Need to Know about ACS

Introduction

With the rise of ad blocking and increasing demand for quality content, creators are struggling to monetize their work effectively. At the same time, consumers are faced with subscription fatigue and are hesitant to commit to long-term contracts. Access Protocol seeks to solve these problems by offering a blockchain-based platform that allows creators to get paid for their work while providing consumers with a flexible and frictionless way to access the content. Access Protocol’s revolutionary platform aims to transform the way users consume and pay for digital content.

This article explores Access Protocol’s unique offering to creators and consumers, the tokenomics and use cases of its native token ACS, and how it is set to disrupt the digital content industry.

What is Access Protocol (ACS)?

Source: Access Protocol

Access Protocol is a Web3 protocol that operates on Solana and Starknet technology. It introduces a unique model for content creators to earn money from their work. Instead of putting content behind a paywall, users would buy its native digital currency called ACS tokens, then use these tokens to gain access to content from multiple creators who participate in the Access Protocol ecosystem

For context, a content creator who creates a series of video tutorials on a particular subject can allow a user who is interested in watching their videos to purchase ACS tokens and lock them into their content pool. This allows the user to watch the videos for a specified period, such as a month.

ACS eliminates the need for users to provide their credit card information every time they want to access the content. Instead, they can use ACS tokens, which are easy to buy and use across multiple creators. This makes it easier for users to access content and helps content creators to earn a more sustainable revenue stream.

In essence, ACS is a more user-friendly and sustainable way for content creators to monetize their content and for users to access high-quality content without the distractions of ads or the burden of recurring subscription fees.

Source: Access Protocol

Brief History of Access Protocol

Access Protocol was founded by Mika Honkasalo, a DeFi investing expert. The project, which was first introduced in 2022 and was officially launched in February 2023, intends to close a huge gap in traffic and reward systems between digital content providers and social media platforms. It was noted that other digital media organizations find it difficult to contend with social media platforms because they have grown to be incredibly profitable and popular. As a result of this, the quality of content has decreased, and some content producers who receive financial support from large corporations now have an unfair competitive edge. Access Protocol aims to help digital media companies attract new customers and establish a reliable monetization model.

How Does Access Protocol (ACS) Work?

Source: Access Protocol

By belonging to the Access Protocol (ACS) community, digital creators can make money when they provide their content to users who are willing to pay for it without having to rely on traditional advertising or subscription models. By locking ACS tokens to a creator’s pool, users gain access to the creator’s content and the creator receives ACS tokens proportional to the number of locked tokens within their pool. This ensures that creators are compensated fairly for their work and incentivized to produce high-quality content that resonates with their audience.

Source: Access Protocol

To make the process even more appealing, creators can choose to distribute ACS tokens or other rewards to users who have locked tokens in their pool. These rewards could include things like exclusive access to events or special bonus features. The system also allows creators to set a minimum threshold of ACS tokens necessary for access to their content, although this is optional and creators can choose to make their content available for free if they wish.

By joining Access Protocol, creators can start earning money from their content right away, without needing to build a large subscriber base or generate significant ad revenue. This could help to grow the digital content market significantly, providing more opportunities for creators and better content for users.

Source: Access Protocol

How Access Protocol Collaborates with Creators

Source: Access Protocol

There are two ways for creators to participate in Access Protocol: either by integrating Access Protocol onto their website or hosting their content on the Access Content Hub.

If a creator integrates Access Protocol onto their website, users can pay to access their content by staking ACS cryptocurrency. This lets the creator offer paywalled content without users having to leave their website. On the other hand, the Access Content Hub is a place where users can find all creators using the platform, regardless of whether they have integrated it into their website.

The Access Content Hub lets users see how much ACS is staked across the platform and find creators based on different attributes. This makes it easy for users to find creators they are interested in. Creators can also offer extra rewards to users who stake more than the minimum amount required. They can manage their content pool and rewards through a creator dashboard.

Source: Access - Medium

Content creators using Access Protocol can enable pool leaderboards, which introduces a social aspect to the platform. The Access Leaderboard allows users to see how much ACS other users are staking in the pool, as well as the length of time they have been staking. This lets users compare different pools and make informed decisions about where to stake their ACS. Creators can also use the Access Leaderboard to offer extra incentives to users who stake more than the minimum required amount, a feature called “Super Staking”. Also, creators can easily manage their staking thresholds and claim rewards with the pool management feature on the creator dashboard.

Source: Access - Medium

What Problems Does Access Protocol (ACS) Solve?

Source: Access Protocol

Access Protocol aims to solve several problems related to the monetization of digital content. It addresses the issue of low revenue generated by ad-supported media companies compared to social media platforms like Facebook. This is because social media platforms have a large user base and can charge higher advertising fees due to their ability to target specific demographics. By using ACS tokens, Access Protocol could potentially increase revenue for content creators and provide an alternative revenue stream compared to relying solely on advertising.

Access Protocol seeks to address the issue of clickbait content and low-quality content that can result from traffic-based ads. This is because ad-supported media companies may prioritize producing content that generates more clicks or impressions to drive revenue, even if the content is of lower quality or not in line with the interests of their audience. By using a token-based system, Access Protocol incentivizes content creators to focus on producing high-quality content that appeals to their audience, rather than just trying to generate more clicks.

Access Protocol addresses the issue of low conversion rates and imprecise value capture associated with subscription-based models. By using ACS tokens, users can purchase access to content on a one-time basis, which reduces friction and may lead to a more significant percentage of users accessing content. Additionally, the creators receive ACS tokens proportional to the amount of locked ACS within their pool, which creates a more precise way for creators to capture the value of their content.

Advantages of Access Protocol

• Stronger relationships between creators and consumers: Access Protocol enables a positive-sum experience for both creators and consumers, creating a mutually beneficial relationship.
• A fairer revenue model for creators: Unlike traditional subscription models, Access Protocol’s token-gated unlock of content allows creators to generate higher revenue from a larger portion of their user base without relying on fixed subscription fees.
• A more engaging user experience: Access Protocol allows creators to gamify their pools, incentivizing users to stake more assets and become “super supporters” while receiving additional rewards.
• An expanding ecosystem: As more creators enter the ecosystem, the utility of the ACS token strengthens, and vice versa, creating a network effect that benefits everyone involved.
• Wider distribution: With Access Protocol, users can generate more revenue for creators without paying out of pocket, which can lead to higher penetration rates and wider distribution of content.

Disadvantages of Access Protocol

• Complexity: The token-gated unlock of content can be seen as an overcomplicated user experience, and some users may prefer traditional payment methods.
• Volatility: As with any cryptocurrency, the value of the ACS token can be volatile, which may discourage some users from staking their assets.
• Adoption: The success of the Access Protocol relies on the adoption of the ACS token by both creators and users. If there is low adoption, the ecosystem may not thrive as intended.
• Security: As with any cryptocurrency, there is a risk of security breaches, hacking, and theft. Users need to take proper precautions to protect their assets.

What is ACS Token?

ACS token is the native cryptocurrency of the Access Protocol. The ACS token is used to incentivize creators to produce valuable content for their audience, while consumers are rewarded for supporting their favorite creators and publications. By locking ACS tokens in a creator pool, consumers can maintain access to paywalled content with just one click, without the need for credit cards or sign-ups. ACS tokens also enable super supporters to pledge well above the minimum lock threshold, which allows creators to identify and provide unique experiences to their most loyal fans.

Tokenomics of ACS

Source: Access Protocol - Tokenomics

The ACS tokenomics consists of a 5% annual inflation rate of the entire supply with the Access community playing a significant role in determining the inflation rate. To combat the inflation rate, the system will impose a 2% staking fee every quarter, which will then be burned.

The estimated token distribution for the next seven years predicts that by the end of the fifth year, around 142 billion ACS tokens will be in circulation. At the time of launch, 2 billion ACS tokens will be airdropped to the community through a partnership with Coingecko.

Out of the total token supply, 58% will be allocated as an incentive to creators and to expand the ecosystem. Additionally, 15% will be dedicated to sponsoring community projects, and the community will have the power to decide how these funds are used.

New ACS tokens will be shared equally between content creators and users. Token holders can use their tokens to participate in any creator pool and receive more tokens in return. By doing this, they can increase the value of their tokens and make the most of their investment.

To earn new ACS tokens, users must actively participate in the ACS token ecosystem by staking their tokens. This means they need to lock up their tokens for a certain period to show their commitment to the platform. Once they have staked their tokens, users can claim token rewards daily. This is a way to incentivize users to hold onto their tokens for longer periods, which helps to increase the value of the ACS token ecosystem as a whole.

Partnership with Coingecko on Token Airdrop

CoinGecko joined the Access Protocol as a launch partner to airdrop its ACS token to the public. Participants claimed ACS tokens via airdrop on Coingecko’s Candy Rewards store between December 2022 and January 2023. The ACS token airdrop was distributed on February 15, 2023, to all who had previously participated in the airdrop claims through Coingecko’s platform. These tokens were also immediately staked in Coingecko’s pool for a year. Users with staked ACS tokens in CoinGecko’s Access pool were also eligible to receive a bi-weekly newsletter called Gecko Ramblings, covering projects, trends, and topics of interest in the crypto space.

It is pertinent to note that Coingecko played a critical role in enabling its users and a broad network of crypto enthusiasts to get familiar with and interact with Access Protocol.

Benefits of Staking ACS Token in the Access Ecosystem

Staking ACS tokens in the Access Protocol ecosystem offers several benefits for both creators and users. Firstly, it provides a more positive-sum experience where both parties benefit. Unlike traditional subscription models where the relationship is purely transactional, Access Protocol incentivizes users to become “super supporters” by staking more tokens, which rewards both the creator and the user equally. This creates a stronger relationship between creators and users, which can lead to increased revenue for creators and more rewards for users.

Source: Access Protocol

Secondly, staking ACS tokens allows users to access paywalled content without having to pay anything out of their pocket. Basically, users can stake the required amount of tokens to access the content and potentially earn rewards for their support. This provides a more flexible and user-friendly experience for accessing content, while also benefiting creators by providing a larger pool of potential supporters. Staking ACS tokens in the Access Protocol ecosystem offers a win-win solution for both creators and users.

Highlights

• Access Scribe

Access Protocol is launching a new platform called Access Scribe, which will allow independent creators to publish their work and monetize it using Access. This platform will be launched in the second quarter of 2023 and will feature a small group of independent creators, with more being added later. Access Scribe will also evolve into a multi-media platform integrating leading web3 projects For content creators interested in being part of the beta launch of Access Scribe, the team put out a form to be filled out or possible consideration.

• ACS Airdrop Details

On April 11, 2023, Access Protocol announced that it will be conducting a second and final public airdrop of ACS. There are two distinct mechanisms through which users may be eligible to receive the airdrop.

To qualify for the airdrop, which will be conducted in collaboration with a third party. For the first mechanism, users must adhere to certain requirements indicated on its Medium page.

The second mechanism is a protocol-wide airdrop, with a distribution of 200,000,000 ACS tokens and a maximum of 10,000 ACS tokens per user.

Is ACS a Good Investment?

ACS poses the prospect of a good investment choice because it offers a unique solution for monetizing online content through its ecosystem. Access Protocol has a strong focus on community building, which can lead to increased adoption of the ACS token. The team behind Access Protocol has been consistent with upgrades to the project, which provides credibility and expertise that can instill confidence in investors.

However, like any investment, investing in ACS carries certain risks, including the volatility of the cryptocurrency market and potential regulatory changes. Investors should always do t own research and assess their risk tolerance before investing in any cryptocurrency. It’s important to remember that investing in ACS, or any other cryptocurrency, does not guarantee a profit and could result in a loss of capital.

How to Own ACS

To own ACS, you can use the services of a centralized crypto exchange. Start by creating a Gate.io account, and get it verified and funded. Then you are ready to go through the steps to buy ACS.

Take Action on ACS

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• ACS/USDT