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In his recent update, Alessandro De Crypto, well-known for his crypto expertise, discusses the current status of Sponge V2.
He highlights that Sponge V2 is still active and encourages potential investors to explore the opportunity of investing in this meme coin for potential high returns.
The popular meme coin $SPONGEV2 has now reached a total staked and bridged value of $12 million after introducing the V2 Polygon network version earlier this month.
https://youtu.be/KyoqvjF4tQw?feature=shared
Sponge V2 – Redefining meme coins with Play-to-Earn and staking mechanics
One of the primary concerns with meme coins is their lack of practical use. However, the new Sponge V2 token tackles this issue with an intriguing Play-to-Earn game and staking features, making it appealing to both meme coin enthusiasts and cautious investors.
Its strong performance history adds to its appeal. Sponge debuted in May 2023 alongside Pepe and quickly reached a market cap of $100 million, resulting in early investors enjoying a remarkable 100x return on investment (ROI).
Always HODL 🧽🧽🙏🙏🙏🙏#Crypto #Web3 #$SPONGE #100x pic.twitter.com/GLWHDLXXwN
— $SPONGE (@spongeoneth) February 28, 2024
The significant surge was fueled by broad community backing, boasting 13k holders, 30k social media followers, and listings on over 10 major exchanges.
Looking forward, its Play-to-Earn game offers both free and paid versions, with users using $SPONGEV2 to purchase credits for the latter. Additionally, launching on Polygon ensures scalability and accessibility.
The successful migration resulted in 8.7 billion $SPONGE tokens being staked, which is over 20% of the total supply in circulation. Stakers are earning token rewards at a rate of 185% annually on Ethereum and 749% annually on Polygon.
However, these rates will decrease as more tokens are staked, emphasizing the importance of prompt action for those seeking to maximize their investment potential. For more information, see our guide to the best staking platforms here.
Since its launch on 9th February, Sponge V2 has surged by over 50%, indicating strong support for its new features and compatibility with Polygon. Potential investors can acquire and stake Sponge V2 directly from the project’s website, using either ETH or USDT.
Sponge V2 roadmap and tokenomics
Currently, the Sponge team hints that their Play-to-Earn game is in development, even though it hasn’t been released yet. In the new $SPONGEV2 tokenomics, 4.47% of the total tokens are designated for game development out of the 150 billion tokens.
Staking rewards, making up 43.09%, will be distributed over four years, while marketing gets 7.5%, P2E rewards 8%, bridged $SPONGE 26.93%, and centralized exchange liquidity 10%.
Sponge V2 has ambitious goals outlined in its roadmap, aiming for 10,000 holders, listings on Tier 1 exchanges, and a $100M market cap. The launch stages include developing the Sponge game and claiming and listing Sponge V2.
This new version of Sponge isn’t just a sequel; it’s a complete transformation with a focus on usefulness and community involvement. Its incorporation of Play-to-Earn and unique staking methods sets it apart in the meme coin arena.
Stay tuned for updates on Sponge V2’s progress through social media channels as it makes its mark in the crypto sphere. To gain insight into the potential of this new project, check out our price prediction for Sponge V2.
Sponge’s smart move – Using Polygon for future crypto gaming
The gaming sector within the crypto industry attracts significant attention, but its potential is hindered by issues like poor user experience and slow transaction speeds. These challenges have led some activities to move off-chain, which undermines the value of blockchain technology.
Polygon can handle up to 7,000 transactions per second (tps), whereas Ethereum struggles with only 1 to 25 tps. Recognizing Polygon’s scalability potential, Sponge has wisely chosen to align itself with Polygon to ensure its future in gaming.
In addressing current usability challenges, Sponge has decided to adhere to Ethereum’s security and upgrade roadmap while leveraging Polygon’s Layer 2 scaling solution. This strategic move positions Sponge to become a significant player in crypto gaming, possibly as a Layer 3 solution.
While the specifics of this new architecture are yet to be revealed, the anticipation surrounding it has sparked excitement in the Sponge market, especially as the altcoin season begins. Currently progressing through Stage 2 of its roadmap, Sponge plans to launch its game app in Stage 3. To acquire $SPONGEV2 token visit spongetoken.vip.
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