Meme coin sensation $SPONGE is preparing for another 100x rally in 2024 as it announces a new roadmap with fresh utility for its V2 launch.
The lovable meme coin with a sizable utility is intuitively distributing its V2 token by introducing a novel stake-to-bridge mechanism.
Investors must stake their assets in the V2 contract to have the chance to get ahold of the V2 version of the token.
The introduction of the second version of $SPONGE provides investors who missed out on the first 100x return with another opportunity.
Legendary 2023 Meme Coin Sensation Sets Roadmap for 2024 With V2 Launch
$SPONGE was one of the most popular meme coin sensations in 2023, delivering a 100x return to its early adopters as it pushed itself into the forefront of the meme coin sector.
The project was one of the year’s biggest stories after launching in the May 2023 bear market. The meme coin managed to surge from as low as a $1 million market cap to reach as high as $100 million, with over 11,500 investors piling into the project.
The token became popular very quickly, causing a flurry of top-tier exchanges to rush to list the token, including exchanges like Gate.io, MEXC, and Poloniex.
Now, the Krabby Patty of meme coins is back with its second incarnation, ready to replace the V1 version of its token with a bigger and better token to start another 100x surge.
The platform recently announced its roadmap, which introduces a range of new utilities to bring the legendary meme coin back into the spotlight throughout 2024;
Novel Distribution Mechanism to Phase Out V1 With Stake-to-Bridge
It’s important to note that the V2 version of $SPONGE is intended to phase out the V1 version entirely.
The team is using a novel distribution mechanism that will permanently lock the V1 tokens into a staking contract, removing them from circulation.
The stake-to-bridge utility is the only way to get your hands on the V2 $SPONGE, meaning this is not a standard presale.
There are two ways to get positioned in V2;
- Buy and stake Sponge V1 through the Sponge.vip website’s buy widget.
- Stake held Sponge V1 through the Sponge.vip website.
The more $SPONGE tokens staked into the V2 contract, the longer the staking period will result in more V2 tokens being earned.
All the V1 tokens sent to the V2 staking pool will earn an equivalent amount of V2 tokens. They will also earn additional V2 tokens based on the APY return.
Currently, those staking V1 are earning an additional 2400% APY;
Of course, this is expected to fall substantially as more investors enter the staking pool.
Play-2-Earn Game Set to Bring New Era of Utility
In addition to the stake-to-bridge mechanism, the team behind $SPONGE isn’t relying on the bull market to deliver another 100x return.
Instead, they want to introduce a series of utilities, starting with a fun and addictive play-to-earn game.
The bespoke racer-style play-to-earn game will add utility to the ecosystem, allowing players to earn additional $SPONGE tokens for ranking higher on the leaderboard – introducing a competitive edge to the ecosystem.
There will be both free and paid versions of the game, with the paid version requiring players to purchase credits using $SPONGE to earn rewards.
The credit system will provide utility for $SPONGE, which most meme coin projects continue to lack.
How to Get Positioned in $SPONGE V2?
As mentioned, the only way to get ahold of $SPONGE V2 is by participating in the stake-to-bridge mechanism.
This means that you must purchase $SPONGE V1 and stake it in the V2 contract on the website if you don’t already own the meme coin. There’s a buy and stake bonus for new participants in $SPONGE, providing additional rewards for newcomers.
It’s important to note that those currently staking their $SPONGE in the V1 staking contract must withdraw their assets and re-stake them in the V2 contract to earn the new version of the token.
Once the staking period is over, users can claim the $SPONGE V2 tokens through the interface on the platform, with dates and times to be announced on social media channels.
Overall, the team has already shown its proficiency in the meme coin sector by delivering a 100x return in 2023 and is ready to replicate its success in 2024. This is a V2 launch that you don’t want to miss out on.
