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Crypto Zeus reviewed a low-cap coin, $SPONGEV2, for his 68K YouTube followers, highlighting its distinctive staking method and play-to-earn gaming integration.
Meme coins regain attention amid the ongoing crypto bull market, with investors on the lookout for the next meme coin to dominate 2024.
Sponge V2 gains momentum, building on the success of its predecessor, $SPONGE, a top performer in 2023 with 100x returns for early investors. The project now introduces Sponge V2, anticipating even more substantial gains.
$SPONGE is poised for its next phase with the imminent launch of Sponge V2. Following the rapid success of the original $SPONGE token, which surged from a $1 million to over $100 million market cap earlier this year, the upgraded version aspires to elevate the project further.
Sponge V2 tokens will be obtained solely through staking Sponge V1 tokens, with extra incentives for purchasing and staking $SPONGE tokens. Currently, the Sponge V2 staking annual percentage yield (APY) exceeds 500%, and over 3 billion $SPONGE tokens have already been staked at press time.
Transitioning to Sponge V2 – A Comprehensive Guide on Staking and Token Migration
Moving from Sponge V1 to Sponge V2 happens by staking V1 tokens. Tokens in the current V1 staking pool must be taken out and restaked in the new V2 staking pool. The V1 staking pool will close, so all V1 tokens need to be withdrawn.
Current Stakers
For users staking the original $SPONGE tokens, they need to take them out from the V1 staking contract and then stake them in their V2 smart contract to ensure their portion of the V2 token when it launches.
Current holders
If users possess original $SPONGE tokens, they should stake them in their V2 smart contract to secure their portion of the V2 token upon its launch.
New Buyers
Users without any tokens can acquire $SPONGE through the website widget, and the purchased tokens will automatically be staked in their V2 smart contract, securing a share of the V2 token upon its launch.
🔥 Important Reminder! 🔥
You must take your staked $SPONGE tokens from the V1 staking contract and stake them in our V2 smart contract. 🙌
You can do this via our website to secure your share of the V2 token once it launches. 🧽🧽🧽#SpongeCoin #Web3 #Crypto pic.twitter.com/u2HKxKz3cM
— $SPONGE (@spongeoneth) December 28, 2023
Important Staking Information
When sending all V1 tokens to the V2 staking pool, an equivalent amount of V2 tokens will be reserved, and they will earn V2 tokens at a variable APY. The earning potential of V2 tokens increases with the quantity of V1 tokens staked.
It’s essential to understand that staking V1 tokens results in permanent lock-in within the V2 staking pool, making them inaccessible for withdrawal or sale. Despite this, these staked V1 tokens will continue to accumulate V2 tokens over the next four years.
Upon the conclusion of the staking period, users can redeem their Sponge V2 tokens through their official website. The schedule will be announced on their social media channels in the coming days.
$SPONGEV2 Tokens Bring a New Dimension to Play-to-Earn Gaming
Sponge V2 introduces exciting functionality with the development of a customized Play-to-Earn (P2E) game, enhancing the Sponge ecosystem’s entertainment factor. Users can earn $SPONGEV2 tokens by participating in the game and achieving leaderboard rankings.
The Sponge P2E game offers both free and paid versions, allowing users to play for enjoyment in the free version or utilize $SPONGEV2 tokens to acquire game credits. These credits enable users to play and earn additional $SPONGEV2 tokens.
With the $SPONGEV2 token now facilitating in-game earnings, Sponge V2 brings unparalleled value to the meme coin community. Further details about the game will be shared on their social channels as the release date approaches.
Sponge V2 Tokenomics and Three-Stage Roadmap for Sustainable Growth
Integral to Sponge V1’s success was its liquidity, and 10% of the $SPONGEV2 supply is allocated for centralized exchange (CEX) liquidity. Among the total 150 billion supply, 43.09% is allocated for staking rewards, 7.5% for marketing, 4.47% for game development, and 8% for P2E rewards.
Sponge V2 represents a new era of meme coins providing tangible utility. The roadmap comprises three stages: Stage 1 involves the staking launch and Sponge game research. Stage 2 includes $SPONGEV2 claiming and coin listing. Stage 3 entails tier 1 centralized exchange listings and the Sponge Game App launch.
Invest in $SPONGEV2 at sponge.vip.
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