HomeNFT'sMissed the $SPONGE 100x Surge? Seize Another Opportunity with Sponge V2 Token

Missed the $SPONGE 100x Surge? Seize Another Opportunity with Sponge V2 Token

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The success of the SpongeBob token ($SPONGE), characterized by a remarkable 100x gain during the meme season in May, sets the stage for the Sponge V2 token.

Investors interested in achieving similar returns are closely watching the progress of this recently introduced memecoin.

What is Sponge V2 ($SPONGEV2)?

Sponge V2 is an enhanced version of the original Sponge token, aiming to elevate the memecoin community experience by creating a more engaging environment. This upgraded iteration introduces a unique staking method and an entertaining play-to-earn system, contributing to the overall improvement of the Sponge brand.

The transition from V1 ($SPONGE) to V2 ($SPONGEV2) is streamlined through a simple process, ensuring a smooth shift for the community. To kickstart this journey, Sponge V2 will conduct a presale, providing additional bonuses for participants. Additionally, an automatic staking system will be in place, simplifying the overall experience.

In May 2023, despite challenging market conditions, $SPONGE displayed resilience and performed admirably, gaining attention alongside other popular memecoins. This success resulted in $SPONGE reaching an impressive market value of nearly $100 million, rewarding early supporters.

With the onset of a new bull market, the outlook for $SPONGEV2 appears positive, and it aims to be a reliable memecoin adept at navigating market dynamics through its utility and purpose.

Navigating the V1 to V2 transition – Bridging, staking, and claiming Sponge V2

Sponge is making a significant comeback, evolving with increased utility from V1 to V2 by introducing a new ERC-20 token on Ethereum through stake-to-earn. Users transitioning from Sponge V1 to V2 should stake their V1 tokens, withdraw and re-stake them in the new V2 pool, as the V1 staking pool will be closing.

  • Current stakers: Those who are currently staking the $SPONGE are required to withdraw from the V1 staking contract. Subsequently, they should stake these tokens in the V2 smart contract to ensure their portion of the V2 token once its launch occurs.
  • Current Holders: Users who currently hold the $SPONGE are required to stake them in the V2 smart contract to guarantee their portion of the V2 token when it is launched.
  • New Buyers: If users do not have any tokens, they can acquire $SPONGE through the website widget. The purchased tokens will be automatically staked in the V2 smart contract to secure a share of the V2 tokens once they are launched.

All V1 tokens sent to the V2 staking pool will secure an equivalent amount of V2 tokens, earning them at a variable APY. The more V1 tokens staked, the greater the V2 tokens earned. Staked V1 tokens will be permanently locked in the V2 staking pool, rendering them non-withdrawable or sellable.

These V1 tokens will consistently accumulate V2 tokens for the next four years. Upon the conclusion of the staking period, users can claim Sponge V2 tokens via the website. Specific dates and times will be communicated through their social media channels in due course.

Sponge V2 introduced distinctive stake-to-bridge token bridging method

Crypto staking becomes more accessible with Sponge V2. Staking, in simple terms, involves sending tokens to a smart contract and locking them up for a predetermined duration, typically with the aim of accruing more of the same token.

Upon the launch of Sponge V2, individuals staking one token ($SPONGE) will be rewarded with another token ($SPONGEV2). Notably, support for Sponge V1 will cease after the launch of Sponge V2, introducing a unique token bridging method termed stake-to-bridge.

What V1 stakers need to know about Sponge V2

Given the rarity of this method for transitioning to a new token in the crypto space, it is essential to underscore the following key points about the bridging process from Sponge V1 to Sponge V2.

  • Exclusive Launch: The acquisition of $SPONGEV2 is solely achievable through the staking of $SPONGE.
  • Staking Bonus: Staking $SPONGE guarantees a corresponding reserve of $SPONGEV2.
  • Permanent V1 Lock: Staked $SPONGE undergoes permanent locking, with the phasing out of V1 tokens scheduled post-V2 launch.
  • Passive V2 Rewards: Maintain staked $SPONGE tokens for an increase in holdings over a four-year period, starting at a minimum APY of 40%.

Sponge V2 introducing P2E game for exciting token rewards

Sponge V2 is adding exciting functionality to its new token, including the development of a unique play-to-earn game by the team. This game aims to boost fun and engagement within the Sponge ecosystem, enabling users to earn $SPONGEV2 tokens by actively participating and securing a position on the leaderboard.

The upcoming Sponge P2E game will be offered in both free and paid versions. Users can choose the free version for recreation or use $SPONGEV2 tokens to acquire game credits in the paid version. These credits empower users to play and earn additional SPONGEV2 tokens.

With the expanded utility of the $SPONGEV2, allowing holders to earn more tokens within the game, it brings significant value to the memecoin community.

Further details about the game will be shared on social media channels closer to the release date. If you’re looking for other investment opportunities, check out our list of the top crypto ICOs to consider.

Sponge V2 roadmap and tokenomics

Examining Sponge V2 tokenomics reveals a strategic allocation: 7.5% for marketing, 4.47% for game development, 8% for play-to-earn rewards, 10% for centralized exchange liquidity, 26.93% for bridging $SPONGE, and a significant 43.09% for staking rewards. This distribution suggests a well-crafted plan for sustainable growth.

The roadmap of Sponge V2 unfolds with key milestones, including announcements, staking launches, game development initiatives, and the potential for a listing on a Tier 1 exchange. The overarching objective is to absorb liquidity and establish dominance in the crypto space.

Promotion and community engagement

The Sponge V2 team has a demonstrated history of success, effectively marketing the original Sponge token to a $100 million market cap in challenging conditions. Employing well-established strategies, their objective is to broaden the user base and community.

Leveraging the existing Sponge token community, the aim is to draw in thousands of new holders and amplify their social media presence. With a dedicated marketing budget, the team employs various strategies to ensure heightened success for Sponge V2. To take part in the presale, visit sponge.vip.

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