The meme coin boom of 2023 saw projects like Sponge offer huge gains, with early buyers getting significant returns.
Many centralized exchanges like Gate.io, MEXC, Bitget, and others listed Sponge (SPONGE) after its successful Uniswap debut.
The upcoming V2 version of the token is set to offer even higher upside potential with more rewards and utility.
Over the past month, nearly 10 million V1 tokens have already been staked and bridged for Sponge V2, with around 189% APY rewards.
The original Sponge token is currently seeing a massive price surge, revisiting its massive gains from May last year. Could SPONGE V2 be the next Pepe?
Sponge V2 Offers A Stake-To-Bridge Mechanism With A 189% Staking APY
Sponge V2 aims to build on the success of its predecessor, Sponge V1, by offering more utility and rewards while maintaining the core elements of a meme token.
The main goal of Sponge V2 is to supersede V1, with investors required to lock their V1 tokens into the V2 smart contract to get V2 tokens.
Investors have two options to buy Sponge V2 tokens:
- Buying V1 tokens and staking them in the official staking pool.
- For existing V1 holders, bridging their holdings to V2 via a simple staking mechanism.
This ensures that investors get equal V2 tokens in their wallets post-launch, corresponding to the number of V1 tokens staked. Once the remaining supply of Sponge V1 is sold out, Sponge V2 will be available for claim.
Additionally, investors can earn staking rewards in SPONGEV2 tokens, with a variable APY set for four years, currently around 189%. This means investors who stake more V1 tokens will get more V2 tokens in return.
It is important to note that once V1 tokens are staked, they will be permanently locked, meaning they can never be sold or withdrawn. This reaffirms the shift away from V1 tokens following the launch of Sponge V2.
Moreover, the recent migration to the Polygon network is expected to offer cheaper and faster transactions and limit the impact of the ERC-20 smart contract hack.
You can buy or stake $SPONGE through the widget on Sponge.vip to get the bonus V2 tokens and then continue staking V1 Sponge tokens to accumulate additional V2 tokens.
P2E Game That Offers More Utility And Rewards
The Sponge V2 team is working on a unique Play-to-Earn (P2E) game, adding a new utility to the token. Players can earn $SPONGEV2 tokens by participating in the game and achieving high rankings on the leaderboard.
The game offers free and paid versions, enabling users to play for fun or use the Sponge V2 tokens to buy game credits for more passive earnings.
This upcoming P2E game is expected to be a key factor in the token’s growth, adding massive utility to the project.
Sponge V2 Growth Plans And Milestones
The Sponge V2 token’s roadmap has three crucial stages, each contributing to its growing appeal among traders. In Stage 1, the project kicks off with the announcement and launch of staking, offering a buy-to-stake bonus and initiating research for the Sponge P2E Game.
Stage 2 sees the claim and listing of $SPONGEV2, alongside the development of the Sponge Game and a target to reach 10,000 holders.
The final stage, Stage 3, aims for Tier 1 CEX listings, achieving a $100 million market cap, and launching the Sponge Game app.
These developments are part of a broader strategy expected to drive the momentum of the SPONGEV2 token, similar to trends observed in other successful tokens.
The original Sponge meme coin has gained massive recognition from investors, laying a solid foundation for the project. The launch of $SPONGEV2 can attract attention from exchanges, potentially increasing its value.
Interested users can follow Sponge V2 on X (previously Twitter) and join its Telegram group to stay updated on the latest news.
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
#crypto
