No Bs Crypto Reviews Sponge V2 Token - Is This New Meme Coin the Next BONK, COQ or PEPE?

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No Bs Crypto reviewed Sponge V2, an upgraded $SPONGE token, enhancing the meme coin community experience for a more engaging environment.

The meme coin market experiences a substantial surge, showcased by the remarkable rallies of Coq Inu (COQ) and Bonk (BONK). BONK and COQ have notably gained over 300% in the last 30 days.

These tokens have garnered significant community backing, fueling their rise to prominence. As the prices of these meme coins begin to decline, traders are actively seeking the next trending meme.

No Bs Crypto Unfiltered Analysis – Sponge V2 Set to Surpass Sponge V1

Sponge V2, a recently launched meme coin, is a direct successor to the original Sponge token that gained prominence during the bear market of May 2023. The initial Sponge token achieved remarkable success, experiencing a rapid surge from a $1 million market capitalization to nearly $100 million within days of its launch.

At its peak, Sponge V1 boasted over 13,000 holders, delivering substantial gains to early investors and securing listings on over 10 centralized exchanges. Sponge V2 follows in the footsteps of its predecessor, adopting the same successful marketing strategy with the goal of replicating, if not surpassing, the earlier returns.

This presents a second opportunity for meme coin enthusiasts to capitalize on potential significant gains. Notably, Sponge V2 differentiates itself from typical meme coin presales by introducing a unique ‘stake-to-bridge’ model.

Rather than opting for a traditional presale, Sponge V2 allows investors to acquire tokens exclusively through staking.

A Comprehensive Staking Guide for the Sponge V1 to Sponge V2 Transition

Transitioning from Sponge V1 to Sponge V2 involves leveraging the staking mechanism with V1 tokens. Existing tokens within the V1 staking pool necessitate withdrawal and subsequent staking in the newly introduced V2 staking pool. The closure of the V1 staking pool mandates the withdrawal of all V1 tokens.

For current stakers engaging with original $SPONGE tokens, they are required to withdraw from the V1 staking contract and stake in the new V2 smart contract to safeguard their V2 token entitlement upon launch. Holders of original $SPONGE tokens are instructed to stake them in the V2 smart contract to secure their portion of the V2 token.

Prospective buyers without existing tokens can acquire $SPONGE through the website widget, and the purchased tokens will automatically be staked in the V2 smart contract, ensuring a stake in the forthcoming V2 token.

Important Staking Information & Claiming of Sponge V2 Tokens

When transferring V1 tokens to the V2 staking pool, they secure an equivalent quantity of V2 tokens with a variable annual percentage yield (APY). The earning potential of V2 tokens increases proportionally to the amount of V1 tokens staked.

Staked V1 tokens become permanently locked in the V2 staking pool, ensuring consistent accrual of V2 tokens over the next four years. After the conclusion of the staking duration, users can retrieve their Sponge V2 tokens through the website.

The specific dates and times for this process will be communicated on their social media channels at a later point. Sponge V2 further explores the possibilities of crypto staking. In basic terms, staking involves sending tokens to a smart contract and locking them up for a specific period, typically to earn more of the same token.

With Sponge V2, users stake one token (SPONGE) to earn another (SPONGEV2). Upon the launch of Sponge V2, support for Sponge V1 will cease. This innovative approach to connecting tokens is referred to as ‘stake-to-bridge.’

📣 We’re excited to announce that #Sponge is bridging from V1 to V2!

Stake your $SPONGE to earn #SpongeV2 tokens. 🧽💦

Buy and stake now for a special V2 token bonus! Don’t miss out 🔥#MemeCoin #Web3 #BullMarket pic.twitter.com/bYmkg1TNrU

— $SPONGE (@spongeoneth) December 18, 2023

Given the uncommon nature of this token bridging method in the crypto sphere, it’s crucial to highlight key aspects of the transition from Sponge V1 to Sponge V2.

First, $SPONGEV2 can exclusively be earned through staking $SPONGE. Participating in the staking process not only grants access to $SPONGEV2 but also entails a staking bonus equivalent to the staked $SPONGE.

Importantly, staked $SPONGE tokens become permanently locked, and the phasing out of V1 tokens will occur post V2 launch. Furthermore, there’s an opportunity for passive V2 rewards by maintaining $SPONGE tokens staked, leading to an increase in holdings over a four-year period, beginning with a minimum APY of 40%.

$SPONGE V2 Tokenomics

Sponge V2 is enhanced to deliver augmented value, with over 51% of the $SPONGEV2 token supply, totaling 150 billion, allocated for staking and play-to-earn (P2E) rewards.

Token Allocation:

Bridge $SPONGE – 26.93%
Staking Rewards – 43.09%
CEX Liquidity – 10%
Marketing – 7.5%
P2E Rewards – 8%
Game Development – 4.47%

Sponge V2’s Game-Changing Utility – Play, Earn, and Enjoy the Rewards

Sponge V2 introduces compelling functionality to its new token, incorporating a tailor-made play-to-earn (P2E) game that enhances the entertainment and engagement within the Sponge ecosystem. Participants have the opportunity to accumulate $SPONGEV2 tokens through gameplay and leaderboard rankings.

The Sponge P2E game offers both free and paid versions, allowing users to enjoy casual play on the free version or utilize $SPONGEV2 tokens to acquire in-game credits. These credits, in turn, enable users to play and earn additional $SPONGEV2 tokens.

With the enhanced utility of the $SPONGEV2 token, facilitating token earnings within the game, Sponge V2 brings unparalleled value to the meme coin community. Further specifics about the game will be disclosed on their social media channels as the release date approaches.

Invest in Sponge V2 token at sponge.vip.