NEW YORK, Dec. 29, 2023 /PRNewswire/ — Meme coin $SPONGE is upgrading to a new version of the token as it pivots to target the crypto gaming space.
The news appears to have been well received by the marketplace, with the coin up 178% since December 22 2023, currently trading at $0.0004043.
Sponge was originally launched in May 2023 in the depths of the bear market, but despite that backdrop was able to achieve price gains of nearly 100x.
Such was the excitement surrounding the $SPONGE launch, it even featured in the New York Magazine‘s Intelligencer section – widely read on Wall Street and beyond.
Here’s How to Get Hold of Sponge V2
To get hold of Sponge V2 you need to do one of two things:
- Buy and Stake Sponge V1 through the Sponge.vip websites buy widget
- Stake held Sponge V1 through the Sponge.vip website
- The more V1 tokens staked, and the longer the duration, the more V2 tokens that can be earned.
Once the remaining supply of SpongeV1 is sold, Sponge V2 will be available to claim.
- All V1 tokens sent to the V2 staking pool will reserve an equivalent amount of V2 tokens and earn V2 tokens according to the variable annual percentage yield (APY).
- The more V1 tokens that are staked, the more V2 tokens will be earned.
- Staked V1 tokens will be permanently locked, meaning they can never be withdrawn or sold. Sponge V1 tokens will no longer be supported other than for staking once Sponge V2 is launched.
Sponge is BACK Bigger and Better, Absorbing all the Damp
Styled as the Krabby Patty of community driven meme coins, Sponge is ‘back bigger and better than ever’ says the website.
Unlike with Sponge V1, this time, the token launches at the beginning of the next bull market with the introduction of play-to-earn (P2E) gaming utility to its ecosystem.
Interested parties can buy or stake $SPONGE using the widget on the Sponge.vip website to receive the equivalent amount of bonus V2 tokens.
Token holders can keep their V1 Sponge staked to receive earn more Sponge V2. Bought tokens can be viewed on the Staking V2 dashboard, and can be claimed once SPONGE V2 launches.
Upcoming P2E Game Changes Everything
Sponge V2 is bringing exciting utility to the new token! The team is developing a bespoke Play-to-Earn (P2E) game adding more fun and addictiveness to the Sponge ecosystem.
Users will be able to earn $SPONGEV2 tokens by playing the game and ranking on the leaderboard.
There will be a free and paid version of the new Sponge P2E game. Users can play for fun on the free version, or use $SPONGEV2 tokens to purchase game credits. These game credits allow users to play to earn more $SPONGEV2 tokens.
With the added utility of the $SPONGEV2 token, which now enables holders to earn more tokens in-game, Sponge V2 is bringing unrivaled value to the meme coin community. More details about the game will be announced on our social channels closer to the release date.
Sponge V1 to V2 Bridge – Stake to Bridge
Holders: If users are holding original $SPONGE tokens, they must stake them in the V2 smart contract via the website home page to secure their share of the V2 token once it launches. Staked V1 tokens will accrue V2 tokens until the moment the new Sponge V2 token launches.
New Buyers: If users don’t hold any tokens, they can buy $SPONGE via the homepage widget. Purchased tokens will automatically be staked in our V2 smart contract to secure a share of the V2 token once it launches. Staked V1 tokens will accrue V2 tokens until the moment the new Sponge V2 token launches.
Current Stakers: If users are staking original $SPONGE tokens, they must withdraw them from the V1 staking contract and stake them in our V2 smart contract via the website homepage to secure their share of the V2 token once it launches. Staked V1 tokens will accrue V2 tokens until the moment the new Sponge V2 token launches.
Since this method of bridging to a new token is not common in crypto, the following points are important to reiterate regarding the bridging process from Sponge V1 to Sponge V2:
- Exclusive Launch: $SPONGEV2 can only be earned by staking $SPONGE.
- Buy & Stake Bonus: Buy and stake $SPONGE for a special bonus in $SPONGEV2.
- Permanent V1 Lock: Staked $SPONGE tokens are locked up permanently. V1 tokens will be phased out post-V2 launch.
- Passive V2 Rewards: Keep $SPONGE tokens staked to increase holdings over a 4-year period, starting at a minimum of 40% APY.
When Users Can Claim SpongeV2
Once the staking period is over, users will be able to claim their Sponge V2 tokens via the Sponge website. Dates and times will be announced on our social media channels in due course.
Introducing The Sponge V2 World of Gaming to Come
SpongeV2 is part of the new wave of meme coins that offer real utility value to users and owners of the token.
Sponge V2’s roadmap is a three-stage process. Stage 2 begins with the opening of Sponge V2 claiming and the listing of the coin.
Stage 3 includes Tier 1 centralised exchange listings and the launch of the Sponge Game App.
Sponge V1 can be bought direct on the sponge.vip website or at top exchanges such as Gate, MEXC, BitGet, CoinW and Poloniex.
Disclaimer: Sponge token has no connection or association with the Nickelodeon-created and owned Spongebob cartoon character and TV show.
SOURCE Sponge Token
Originally published at https://www.prnewswire.com/news-releases/sponge-meme-coin-price-jumps-178-after-v2-upgrade-announcement-302023802.html
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