Sponge V2 Launch on Polygon Sees 56% Pump As Buyers Stake for 7500% Returns

Holders can reap more fruits from their $SPONGE by staking it on Polygon for returns of over 7,000%—head and shoulders above the yield for those who staked on Ethereum, who still got a heady 200% by locking up their cash. To date, the community has collectively staked nearly 8 million tokens.

The staking model means that this rate isnt fixed. It fluctuates depending on the number of tokens staked and for how long. Meaning that if the project takes off in a big way, the sky is the limit.

Acquiring SPONGE V2

Trading of SPONGE V1 on centralized exchanges halted on Monday the 5th of February at 11:00 PM UTC. Those holding tokens on the exchanges were urged to withdraw their holdings and stake them through the Sponge website. Doing so before the cutoff meant they would automatically receive 1:1 SPONGE V2 to start trading and earning staking rewards.

Holders who self-custody or use other decentralized methods to store their Sponge can stake it through the Sponge website.

Important notes ????

1️⃣ All decentralised non staked V1 holders will be able to claim equivalent V2 tokens after the claim goes live via our website.

2️⃣ The new tradable V2 pool has been created at the same price as V1 before it was discontinued. This enables keen #SPONGERS to…

— $SPONGE (@spongeoneth) February 6, 2024

SPONGE fans are keenly hoping their favorite

meme coin

will flip its all-time high of $0.0012 set on January 8th this year. With the token‘s new staking model, the benefits offered to it by the Polygon network, and the prospect of a video game round the corner, there’s plenty of cause for optimism.

Those who were unable to purchase and stake SPONGE V1 tokens before the deadline to claim the tokens new iteration can still buy SPONGE V2 over on Spongetoken.vip.