The meme coin area has a brand new contender that’s turning heads and inflicting a stir – Sponge V2 (SPONGEV2).
With the venture having already seen over 5 billion tokens staked in anticipation of its launch, many traders are questioning if this Ethereum-based token might develop into the following Bonk (BONK) and ship jaw-dropping returns.
Sponge V2 Revives SPONGE Ecosystem with Monumental Staking Rewards
The recently-revealed Sponge V2 is the second technology of the favored Sponge (SPONGE) meme coin launched in Might 2023.
SPONGE delivered 100x returns for a lot of early adopters after launch as its market cap raced to $100 million in a matter of days.
Now, Sponge V2 goals to proceed that unimaginable success by transitioning token holders from Sponge V1 to the upgraded V2 contract.
This course of permits current Sponge holders to completely lock their V1 tokens in change for V2 tokens and excessive staking rewards.
On the time of writing, the reward price is about at a whopping 323% per yr, and over 5 billion tokens have been locked up already.
This excessive reward price means those that pledge 1,000 SPONGE tokens can count on to earn a staggering 3,230 SPONGEV2 yearly – though the yield will lower as extra tokens are staked.
The venture’s “Stake-to-Bridge” mechanism has drawn consideration from analysts and influencers, with YouTuber Matthew Perry telling his subscribers to “control this token.”
Play-to-Earn Gaming Potential Boosts Curiosity in SPONGEV2 Token
Constructing on the momentum of the unique token, Sponge V2 has set its sights even larger by incorporating play-to-earn (P2E) gaming parts that would propel its progress.
The event staff has been arduous at work on a racing recreation that may enable SPONGEV2 holders to place their tokens to make use of.
Gamers can select between a free model of the sport for leisure or a paid model that features P2E options.
On this paid model, gamers can compete towards others and be positioned on leaderboards to earn SPONGEV2 rewards.
Provided that blockchain-based gaming is anticipated to blow up in reputation within the coming years, Sponge V2 appears primed to journey this wave and seize consideration early on.
Furthermore, Sponge V2’s meme-style branding might amplify the sport’s attain and entice a wider viewers of informal players who determine with the venture’s hilarious vibe.
As such, if even a small variety of gaming fanatics flock to the Sponge V2 ecosystem, it might assist SPONGEV2 match (and even exceed) the expansion witnessed in Sponge V1’s lifespan.
May Sponge V2 Change into the Subsequent BONK As soon as Listed on Exchanges?
With SPONGEV2 attracting curiosity because of its incentivized staking and gaming integration, some merchants have began speculating that it might develop into the following BONK.
BONK, the most important meme coin on the Solana blockchain, exploded in worth final month – with positive aspects of over 19,000% in a matter of weeks.
Its humorous branding and engaged neighborhood allowed it to face out within the crowded meme coin area, with BONK now ranked because the third largest meme coin globally.
Sponge V2 seems to be taking pages from the BONK playbook with its personal vibrant ecosystem and utility-driven strategy to market adoption.
Furthermore, with Ethereum nonetheless the go-to blockchain for meme cash, Sponge V2 is launching on a doubtlessly extra profitable platform than BONK.
Naturally, there are not any ensures that SPONGEV2 will have the ability to match BONK’s unimaginable rise, given the unpredictable nature of the meme coin area.
Nonetheless, the constructing blocks are there for SPONGEV2 to attain a profitable change itemizing within the coming weeks if it might probably capitalize on its early momentum.
traders can purchase SPONGE tokens and routinely stake them via the sponge.vip web site to start incomes SPONGEV2.
