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Sponge V2 innovates the market with distinctive methods for transaction charges, liquidity, and staking, constructing on its predecessor’s success.
Though Sponge V2 maintains the interesting viral meme coin facet of its earlier iteration, the second model introduces token utility, probably leading to sustained demand over the long term.
Sponge was launched to the market in Might 2023. Early buyers in Sponge noticed a comparable upward development to PEPE, because the coin surged to a $100 million market cap, yielding returns of as much as 100x for holders.
The meteoric rise was enabled by listings on over ten outstanding exchanges together with MEXC, LBank, Poloniex, Gate.io and extra. Sponge has greater than 13K token holders and supported by 30K social media followers. $SPONGE then pulled again alongside different meme cash however exploded following the V2 announcement.
Subsequently, $SPONGE retraced consistent with different meme cash however skilled a surge following the announcement of V2. Nevertheless, at present valued at $0.0000558, Sponge has undergone a 25% lower previously seven days, probably providing a beautiful entry level for brand new consumers.
Capitalizing on Sponge V2 – Alternatives for Traders and Token Holders
For those who weren’t in a position to profit from Sponge’s fast success, you possibly can nonetheless seize the chance to put money into Sponge V2 earlier than it launches on main exchanges, which is extremely anticipated. Constructing on the success of Sponge V1, V2 goals to supply elevated utility and rewards whereas retaining the core parts of a meme token.
The first goal of Sponge V2 is to surpass V1, requiring buyers to lock their V1 tokens into the V2 sensible contract to acquire V2 tokens. Traders have two choices, both shopping for V1 tokens and staking them within the official pool or bridging current V1 holdings to V2 via a simple staking mechanism.
This ensures buyers obtain an equal variety of V2 tokens of their wallets post-launch based mostly on the quantity of V1 tokens staked. As soon as the remaining provide of Sponge V1 is exhausted, Sponge V2 turns into obtainable for claiming.
Moreover, buyers can earn staking rewards in $SPONGEV2 tokens, with a variable APY set for 4 years, at present round 187%. This suggests that staking extra V1 tokens leads to acquiring extra V2 tokens in return.
It’s value noting that after V1 tokens are staked, they’re completely locked, which means they can’t be offered or withdrawn, emphasizing the shift away from V1 tokens post-Sponge V2 launch.
Furthermore, the current migration to the Polygon community is anticipated to supply cheaper and quicker transactions whereas mitigating the influence of the ERC-20 sensible contract hack. Over the previous month, greater than $12 million V1 tokens have already been staked and bridged for $SPONGEV2.
📣 Consideration, #SPONGERS!
Right here is a few necessary info to recollect about $SPONGE V2!$SPONGE V1 has formally been discontinued, and V2 has been launched on #Polygon! 🔥
Study extra concerning the token particulars beneath 👇https://t.co/TCdxgXx40w
🧵1/3 pic.twitter.com/YZzXOlKmHY
— $SPONGE (@spongeoneth) February 6, 2024
You should buy or stake $SPONGE via the widget on spongetoken.vip to obtain bonus V2 tokens and proceed staking V1 Sponge tokens to build up further V2 tokens.
The Sponge V2 group can be creating a singular play-to-earn (P2E) recreation, introducing a brand new utility to the token. Gamers can earn $SPONGEV2 tokens by taking part within the recreation and reaching excessive rankings on the leaderboard.
The sport presents each free and paid variations, permitting customers to play for enjoyable or use Sponge V2 tokens to buy recreation credit for added passive earnings.
View the video above to study extra concerning the Sponge V2 venture, and subscribe to his YouTube channel for added crypto-related content material. Jacob Crypto Bury additionally runs a Discord server with 21,000 members, offering customers with buying and selling recommendation and particulars on upcoming crypto presales.
Sponge V2’s Emergence Amidst Bitcoin’s Bullish Momentum
Within the midst of a bullish wave for Bitcoin, Sponge V2 emerges as a notable contender within the cryptocurrency market. Whereas Bitcoin’s upward trajectory dominates headlines, the potential for altcoin rallies, significantly for Ethereum, stays a subject of hypothesis.
Sponge stands to learn from this sentiment, with its upcoming launch producing vital anticipation amongst buyers. The venture’s plans to increase to bigger exchanges trace at elevated liquidity and buying and selling quantity, probably bolstering its market place.
Furthermore, Sponge’s current cross-chain integration underscores its ambition to broaden its attain and accessibility. Because the crypto neighborhood eagerly awaits SPONGEV2’s itemizing on Tier 1 centralized exchanges, the venture’s potential for vital worth motion turns into more and more obvious. To amass $SPONGEV2 token go to spongetoken.vip.
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