The Sponge ($SPONGE) community recently voted to receive the project’s staking rewards instantly, with 85.5% of voters choosing this option. This allows holders to claim their staking rewards immediately after they go live on May 30. The community was given various options for claiming rewards, with the decision largely based on maintaining price stability. Three groups of $SPONGE holders are eligible to claim tokens – those who participated in the presale, those who bridged to Polygon before February 5th, and those captured in a snapshot after the V1 token was discontinued. Those who held the V1 token on centralized exchanges had their tokens swapped for the V2 token on Polygon.
Investors are flocking to $SPONGE for its lucrative rewards and upcoming projects. The project recently migrated to Polygon and offers a dynamic rewards rate of 326% APY for stakers. $SPONGE is building its own staking and gaming community through word-of-mouth, incentives, and marketing. The project has three significant milestones ahead – the token claim on May 30, top-tier exchange listings, and the release of a Sponge-themed video game. $SPONGE has seen explosive growth since its launch in May 2023, with returns of up to 10,000%.
The launch of $SPONGE V1 was met with enthusiasm from investors, leading to significant growth and a market cap close to $100 million. The token later upgraded to V2 on Polygon, with current pricing and a presale relaunch providing profitable returns for early supporters. An attack on the liquidity pool expedited the migration and allowed for enhancements to the staking model and the early release of the racing game. With substantial staking activity and a growing community, $SPONGE is expected to continue its upward trajectory within the meme coin and gaming sectors.
$SPONGE’s V2 upgrade introduced a new staking model with a yield of around 326% for Polygon stakers. As more tokens are staked and bridged, the value locked in $SPONGE continues to increase. The project is anticipated to be listed on major exchanges like Binance and OKX, which could further boost its value. After claim and potential listings, the focus will shift to the release of the Sponge-themed racing game, offering players the opportunity to earn $SPONGE rewards. Investors are encouraged to take advantage of the current opportunity to buy and stake $SPONGE before it becomes more mainstream. With an engaged community and exciting developments on the horizon, $SPONGE is poised for continued growth in the crypto market.
