$SPONGE Holders Approve Immediate Staking Rewards for Viral Multimillion Dollar Gaming and Staking Meme Coin

Monday, May 27, 2024 – The Sponge ($SPONGE) community, known for its meme coin that delivered returns of up to 10,000% to early supporters, has voted to receive the project’s attractive staking rewards immediately.

This decision means that all earned staking rewards will be distributed to $SPONGE holders once the claim becomes active on May 30, at 10 AM UTC.

Sponge conducted a poll among its X followers from May 16 to May 21, asking the community to choose between accessing the substantial staking rewards right away, locking them for a month, or gradually vesting the rewards over either six months or a year. The rationale behind the community vote was elaborated in a subsequent post, primarily focusing on price stability.

It’s time to vote, #SPONGERS!!

Vote on the $SPONGE staking rewards claim structure below!

The poll closes on the 21st of May.

Absorb that DAMP! #SpongeV2 #Polygon #MemeCoins

— $SPONGE (@spongeoneth) May 16, 2024

However, a significant majority of 85.5% opted for the instant claim to quickly benefit from the project’s attractive dynamic rewards rate, which currently offers a 326% APY for stakers on Polygon.

$SPONGE has recently transitioned from Ethereum to Polygon. Three categories of users are eligible to claim tokens on May 30: those who purchased tokens via the presale widget, those who bridged to Polygon prior to February 5th, and holders who did not bridge but were included in a snapshot taken on February 5th after the discontinuation of the $SPONGE V1 token.

The last group can claim a fair amount of Polygon $SPONGE V2 tokens without any additional staking rewards.

Individuals who held the V1 token on centralized exchanges before its discontinuation have had their tokens converted to the V2 $SPONGE token on Polygon.

Attractive rewards are just one reason why investors are gravitating towards Sponge in hopes of capturing some potentially significant price movements. In the upcoming months, $SPONGE is set to play a pivotal role in the most exciting new staking/gaming/meme coin ecosystem in crypto.

Sponge: A Meme Coin with a Strategy

As global crypto adoption progresses rapidly, investors are flocking to Sponge ahead of its listing on major exchanges.

$SPONGE is a distinctive project that is organically cultivating its own staking and video gaming community through word-of-mouth, appealing incentives, and viral marketing. Three major milestones are on the horizon: the highly anticipated claim of the new Polygon $SPONGE token on May 30, listings on top-tier CEXs, and the launch of an upcoming Sponge video game.

Meme coins have both absorbed and squeezed value more than most projects during Bitcoin’s 2024 recovery. Their unpredictable price fluctuations often leave the industry speculating whether it is on the brink of another bull market.

Any crypto meme initiative aiming to thrive in the competitive pre-adoption landscape must provide more than just humor to ensure longevity.

Investors are optimistic that $SPONGE is 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, yielding returns of approximately 10,000%.

Clearly, early supporters are eager for $SPONGE to solidify its position as a significant contender in the meme coin market.

3 Days left until the token claim goes live, #SPONGERS!

Thursday, 30th of May at 10AM UTC.

Join our Telegram & Discord if you have any questions! #SpongeV2 $SPONGE #ETH #PEPE pic.twitter.com/mmUzBzCFSa

— $SPONGE (@spongeoneth) May 27, 2024

$SPONGE’S Undersea Journey So Far

Launched with minimal promotion, $SPONGE V1 quickly gained favor among investors by providing an enticing ecosystem with numerous opportunities for participants to invest their time and resources to earn rewards.

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

$SPONGE experienced an impressive rally of 4,000% and nearly reached 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, a widely used Ethereum Layer 2 scaling solution. It is currently valued at $0.002103 in a presale relaunch. This indicates that those who held $SPONGE since the V1 launch, priced at $0.000025, are now enjoying profits of 8,414%.

Although the chain migration had been planned since at least January, a recent liquidity pool attack accelerated the transition.

This incident actually advanced the team’s objectives by enabling a significant early update to the protocol’s staking model, improving the reward rate. It also expedited the still-unconfirmed launch date of the token’s associated racing game.

#SPONGERS, the votes are in!

A remarkable 85.5% of our community voted for instant claim! As promised, we’ll honor your choice.

All $SPONGE tokens will be available for instant claim on Thursday, 30th of May at 10AM UTC

Get ready to absorb the damp! #SpongeV2 pic.twitter.com/cbxsSitUdx

— $SPONGE (@spongeoneth) May 21, 2024

$SPONGE is Absorbing Many Millions of Dollars

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

This yield fluctuates based on the number of stakers and tokens locked, currently around 326% for Polygon stakers. To date, an astonishing 10 billion $SPONGE tokens have been staked, with the total value of staked and bridged tokens amounting to $24 million, as reported on the website.

Meme coin enthusiasts anticipate these figures to rise in the coming weeks as Sponge gains traction within the meme coin and Web3 gaming sectors.

It is likely that $SPONGE will soon be listed on some of the largest crypto exchanges globally, such as Binance and OKX. Listings on top-tier CEXs are a crucial component of the project roadmap and could trigger further significant price movements as $SPONGE becomes more accessible to everyday retail investors.

Following the claim and potential CEX listings, the Sponge-themed play-to-earn racing game will be launched, where players race around Bikini Bottom collecting $SPONGE rewards.

With its dual-revenue staking and gaming model, $SPONGE aims to disrupt larger market cap meme coin competitors 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 36,500 followers on X.

Buy And Stake SPONGE On The Website

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