Thursday, Might 16, 2024 – Sponge ($SPONGE), a preferred new meme coin that has introduced early supporters returns of 10,000%, has launched a social media ballot asking the group for route on how to distribute the mission’s profitable staking rewards.
The ballot will run from Might sixteenth to Might twenty first. It asks the Sponge group to resolve between accessing the massive quantity of staking rewards instantly when the declare goes dwell on the finish of Might, to lock them for one month, or to vest the reward tokens linearly over both six months or a 12 months.
It’s time to vote, #SPONGERS!! 🔥
Vote on the $SPONGE staking rewards declare construction under!
The ballot closes on the twenty first of Might. ⏰
Take in that DAMP! 💪🧽 💦 #SpongeV2 #Polygon #MemeCoins
— $SPONGE (@spongeoneth) May 16, 2024
Sponge not too long ago moved from Ethereum to Polygon. Because of this, there are three teams eligible to accumulate tokens by means of the declare course of: those that purchased tokens by means of the presale widget, those that bridged to Polygon earlier than February fifth, and holders who didn’t bridge however who manually moved right into a declare contract following a snapshot taken on February fifth after the $SPONGE V1 token was discontinued.
Those that held the V1 token on centralized exchanges earlier than its discontinuation had their tokens swapped for the V2 token on Polygon, which additionally has $SPONGE as its ticker.
The group defined the professionals and cons of every alternative within the ballot in a separate X publish.
3️⃣ 1 Month Locked
With this feature, your staking rewards can be locked for one month earlier than being absolutely out there, guaranteeing preliminary stability post-claim.4️⃣ On the spot Declare
This feature permits you to declare all of your staking rewards immediately, however have in mind this may occasionally lead to excessive…— $SPONGE (@spongeoneth) May 15, 2024
Staking rewards are only one cause traders are transferring to Sponge in a bid to catch some doubtlessly explosive value motion earlier than the presale concludes on the finish of Might.
What’s Completely different About Meme Coin Sponge?
With world crypto adoption persevering with apace, traders are shopping for up Sponge earlier than it will get listed on main exchanges within the hope that they’ve discovered the following viral Web3 meme coin.
$SPONGE is a singular mission that comes with its personal staking and video gaming group. Within the coming weeks, folks can anticipate two important milestones: the long-awaited declare of the brand new Polygon $SPONGE token, and the discharge of an upcoming Sponge play-to-earn (P2E) recreation
Meme cash have been rallying and falling tougher than most by means of Bitcoin’s 2024 rebound. The unpredictable value actions on all sides depart the business questioning if it’s on the verge of one other bull run.
Any crypto meme mission that wishes to survive the Darwinistic survival-of-the-fittest pre-adoption market has to supply somewhat extra than simply laughs if it’s aiming for longevity.
Traders imagine $SPONGE is one such hypothesis. When it launched in Might 2023, $SPONGE was priced at $0.000025. In lower than a 12 months, it has posted latest highs of $0.002763, or round 10,000% increased!
Clearly, early-stage supporters are starting to care about $SPONGE.
King Charles approves 👏 🧽 $SPONGE #SpongeV2 #100x pic.twitter.com/j9Zy4RsJnZ
— $SPONGE (@spongeoneth) May 16, 2024
$SPONGE’S Voyage So Far
Launched with little-to-no fanfare, $SPONGE V1 gained the hearts of traders by providing an alluring ecosystem with a number of alternatives for contributors to put their money and time to work to declare staking rewards.
Foregoing a conventional prelaunch ICO in favor of direct itemizing, $SPONGE bounded out the beginning gate with a discreet itemizing on Uniswap, earlier than rapidly spreading to centralized exchanges (CEXs) like Poloniex, MEXC, LBank, Gate.io, Toobit, and extra.
$SPONGE rallied a humbling 4,000% and practically hit a $100 million market cap lower than per week after launch, on Might ninth 2023.
The token recently upgraded (and migrated) to a V2 on Polygon, an Ethereum Layer 2 scaling answer. It’s at the moment $0.001689 in a presale relaunch. This implies people who held $SPONGE for the reason that V1 launch, when it was priced at $0.000025, at the moment are in revenue by 6756%.
Though the transfer had been within the pipeline since January, a latest liquidity pool attack expedited it.
Nonetheless, the migration truly furthered the group’s plans by permitting it to deploy an enormous early replace to the protocol’s staking mannequin and transferring ahead the still-unconfirmed launch date of the token’s eponymous P2E racing recreation.
Did you fade $SPONGE once more, anon? #SpongeV2 #Crypto #ElonMusk pic.twitter.com/TPgxfIZRhF
— $SPONGE (@spongeoneth) May 16, 2024
$SPONGE’s Mission To Soak Up Worth
$SPONGE’s V2 improve launched a few key enhancements, the foremost of which being a brand new staking mannequin.
This fee yield varies in accordance to the variety of stakers and tokens locked up and at the moment sits at round 335%.
Meme coiners anticipate the variety of staked tokens to improve within the coming weeks, significantly as Sponge positive factors much more traction inside the meme sector.
That’s as a result of the group hopes to checklist $SPONGE on among the world’s largest crypto exchanges, like Binance and OKX. The transfer might catalyze additional explosive value motion because the token turns into extra accessible to on a regular basis retail patrons.
After declare and potential CEX listings comes the Sponge-themed recreation, the place gamers can race round Bikini Backside accumulating rewards.
With its dual-revenue staking and gaming mannequin, $SPONGE is wanting to critically disrupt low-utility bigger market cap rivals like $PEPE, $DOGE and $WIF.
Make the most of this window of alternative to purchase and stake $SPONGE earlier than change listings take the mission mainstream.
Keep up to date and be a part of the engaged group of 37,300 followers on X.
Buy And Stake SPONGE On The Website
Disclaimer: Crypto is a high-risk asset class. This text is supplied for informational functions and doesn’t represent funding recommendation. You could possibly lose all your capital.
