Investors are scrambling to take a position in the freshest meme coin on the market – Sponge V2 ($SPONGEV2), the next incarnation of the legendary Sponge ($SPONGE) meme coin.
Let’s take a trip down memory lane – Sponge V1 made its debut during the bear market of May 2023, launching as a fair token with an astronomical all-time high market cap of nearly $100 million.
Boasting over 13,000 holders at its peak, Sponge V1 delivered spectacular gains to early investors and secured listings on more than 10 centralized exchanges, including LBank, Toobit, CoinW, BTCEX, Poloniex, MEXC, Gate.io, Bitget, BitKan, and BitMart.
Its social following skyrocketed to almost 30,000 in just a matter of weeks, and a successful airdrop campaign distributed nearly $100,000 worth of tokens.
This is where Sponge V2 comes in.
Sponge V2 is not your typical presale, to acquire this new token, you have two options:
1. Buy and stake Sponge V1 through the Sponge.vip website’s buy widget.
2. Stake held Sponge V1 through the Sponge.vip website.
The more V1 tokens you stake, and the longer you stake them, the more V2 tokens you’ll earn, once the remaining supply of Sponge V1 is exhausted, Sponge V2 will become claimable.
Sponge V2 Staking Mechanics and Important Information
All V1 tokens sent to the V2 staking pool will reserve an equivalent amount of V2 tokens and earn V2 tokens based on the variable annual percentage yield (APY). Simply staking more V1 tokens will result in earning more V2 tokens.
It’s crucial to note that staked V1 tokens will be permanently locked, emphasizing the transition away from supporting V1 tokens post-Sponge V2 launch.
But this time, it’s not just about riding the market waves – Sponge V2 introduces Play-to-Earn (P2E) utility to its ecosystem.
Buy or stake $SPONGE using the widget on Sponge.vip to receive bonus V2 tokens, and then keep your V1 Sponge staked to earn even more Sponge V2.
The Krabby Patty of Community-Driven Memecoins: Upcoming P2E Game
The Sponge V2 team is developing a bespoke Play-to-Earn (P2E) game, bringing an exciting new utility to the token.
Users will have the opportunity to earn $SPONGEV2 tokens by playing the game and ranking on the leader board.
The game will feature both free and paid versions, allowing users to play for fun or use $SPONGEV2 tokens to purchase game credits for additional in-game earnings.
Sponge V1 to V2 Bridge – Stake to Bridge
Sponge V2 marks the relaunch of the legendary Sponge Token, and there’s a unique process to acquire it, lets take a look:
1. Holders: Stake original $SPONGE tokens through the V2 smart contract via the website to secure their share of the V2 token.
2. New Buyers: Purchase $SPONGE via the home page widget to automatically stake tokens in the V2 smart contract.
3. Current Stakers: Withdraw from the V1 staking contract and stake in the V2 smart contract to secure their share of the V2 token.
Exclusive Features of Sponge V2
Exclusive Launch: $SPONGEV2 can only be earned by staking $SPONGE.
Buy & Stake Bonus: Earn a special bonus in $SPONGEV2 by buying and staking $SPONGE.
Permanent V1 Lock: Staked $SPONGE tokens are permanently locked.
Passive V2 Rewards: Keep $SPONGE tokens staked to increase holdings over a 4-year period, starting at a minimum of 40% APY.
SpongeV2 Claim and Project Tokenomics
Once the staking period concludes, users can claim their Sponge V2 tokens via the website, the roadmap includes three stages:
Stage 1:
Announcement and Staking Launch
Buy to Stake Bonus
Sponge Game Research
Stage 2:
$SPONGEV2 Claim and Listing
Sponge Game Development
Target of 10,000 Holders
Stage 3:
Tier 1 CEX Listings
Sponge Game App Launch
Achieving $100M Market Cap
The Bottom Line
As Sponge V2 sets sail, it brings not only a remarkable history from Sponge V1 but also an innovative approach to crypto launches. #
The team’s commitment to utility, staking, and a P2E game makes Sponge V2 a project to watch closely.
Stay tuned for updates on social channels and witness the evolution of Sponge in the crypto seas.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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