After Delivering 10,000% Returns to Initial Backers, Gaming Meme Coin $SPONGE Surveys X Followers Regarding Profitable Staking Incentives

Thursday, May 16, 2024 – Sponge ($SPONGE), a trending new meme coin that has delivered returns of 10,000% to its early supporters, has initiated a social media poll to gather input from the community regarding the distribution of the project’s substantial staking rewards.

The poll is set to run from May 16th to May 21st. It invites the Sponge community to choose between receiving the large amount of staking rewards immediately upon the claim’s activation at the end of May, locking them for one month, or distributing the reward tokens gradually over either six months or a year.

It’s time to cast your vote, #SPONGERS!!

Participate in the $SPONGE staking rewards claim structure poll below!

The poll will conclude on May 21st.

Absorb that DAMP! #SpongeV2 #Polygon #MemeCoins

— $SPONGE (@spongeoneth) May 16, 2024

Sponge has recently transitioned from Ethereum to Polygon. Consequently, there are three categories of participants eligible to claim tokens: those who purchased tokens via the presale widget, those who bridged to Polygon prior to February 5th, and holders who did not bridge but manually entered a claim contract following a snapshot taken on February 5th after the discontinuation of the $SPONGE V1 token.

Individuals who possessed the V1 token on centralized exchanges before its discontinuation had their tokens exchanged for the V2 token on Polygon, which retains $SPONGE as its ticker.

The team provided an explanation of the advantages and disadvantages of each option in the poll through a separate X post.

3⃣ 1 Month Locked
Choosing this option means your staking rewards will be secured for one month before becoming fully accessible, ensuring initial stability post-claim.

4⃣ Instant Claim
This option permits you to claim all your staking rewards at once, but be aware that this may result in high…

— $SPONGE (@spongeoneth) May 15, 2024

Staking rewards are just one factor attracting investors to Sponge as they seek to capitalize on potentially significant price movements before the presale concludes at the end of May.

What’s Unique About Meme Coin Sponge?

As global crypto adoption continues to grow, investors are acquiring Sponge before it is listed on major exchanges, hoping to discover the next viral Web3 meme coin.

$SPONGE is a distinctive project that features its own staking and video gaming community. In the upcoming weeks, significant milestones are anticipated: the eagerly awaited claim of the new Polygon $SPONGE token and the launch of an upcoming Sponge play-to-earn (P2E) game.

Meme coins have experienced both rallies and declines more dramatically than most during Bitcoin’s 2024 recovery. The erratic price fluctuations across the board leave the industry speculating whether it is on the brink of another bull run.

Any crypto meme initiative aiming to endure in the competitive pre-adoption market must provide more than just entertainment if it seeks longevity.

Investors view $SPONGE as one such opportunity. When it debuted in May 2023, $SPONGE was valued at $0.000025. In under a year, it has reached recent peaks of $0.002763, representing an increase of approximately 10,000%!

Clearly, early supporters are starting to take an interest in $SPONGE.

King Charles approves $SPONGE #SpongeV2 #100x pic.twitter.com/j9Zy4RsJnZ

— $SPONGE (@spongeoneth) May 16, 2024

$SPONGE’S Journey Thus Far

Launched with minimal publicity, $SPONGE V1 captured the attention of investors by providing an enticing ecosystem with numerous opportunities for participants to invest their time and resources to earn staking rewards.

Opting for a direct listing instead of a traditional prelaunch ICO, $SPONGE made its debut with a subtle listing on Uniswap, quickly expanding to centralized exchanges (CEXs) such as Poloniex, MEXC, LBank, Gate.io, Toobit, and others.

$SPONGE experienced a remarkable increase of 4,000% and nearly approached a $100 million market cap less than a week after its launch on May 9th, 2023.

The token has recently upgraded (and migrated) to a V2 on Polygon, an Ethereum Layer 2 scaling solution. It is currently priced at $0.001689 in a presale relaunch. This indicates that those who held $SPONGE since the V1 launch, when it was valued at $0.000025, are now in profit by 6756%.

Although the migration had been planned since January, a recent liquidity pool attack accelerated the process.

Nonetheless, the migration actually advanced the team’s objectives by enabling a significant early update to the protocol’s staking model and moving forward the still-uncertain launch date of the token’s namesake P2E racing game.

Did you fade $SPONGE again, anon? #SpongeV2 #Crypto #ElonMusk pic.twitter.com/TPgxfIZRhF

— $SPONGE (@spongeoneth) May 16, 2024

$SPONGE’s Objective To Capture Value

$SPONGE’s V2 upgrade introduced several key enhancements, the most notable being a new staking model.

This yield rate fluctuates based on the number of stakers and tokens locked and currently stands at approximately 335%.

Meme coin enthusiasts anticipate that the number of staked tokens will rise in the coming weeks, especially as Sponge gains further traction within the meme sector.

This is due to the team’s aspirations to list $SPONGE on some of the largest crypto exchanges globally, such as Binance and OKX. This move could trigger additional significant price movements as the token becomes more accessible to everyday retail investors.

Following the claim and potential CEX listings, the Sponge-themed game will be launched, where players can race around Bikini Bottom collecting rewards.

With its dual-revenue staking and gaming model, $SPONGE aims to disrupt larger market cap competitors with low utility like $PEPE, $DOGE, and $WIF.

Seize this opportunity to purchase and stake $SPONGE before exchange listings propel the project into the mainstream.

Stay informed and join the active community of 37,300 followers on X.

Buy And Stake SPONGE On The Website

The post After Bringing 10,000% Returns to Early Supporters, Gaming Meme Coin $SPONGE Polls X Followers About Lucrative Staking Rewards appeared first on Cryptonews.