Top Meme Coin Sponge Gains $10 Million in Staking and Bridging
Thursday, February 22nd, 2024 โ The popular meme coin Sponge has successfully launched its V2 Polygon network version, resulting in over $10.18 million being staked and bridged. This strategic move to Polygon is well-timed with the upcoming Ethereum Dencun upgrade, which will bring reduced gas fees and faster transaction times for Layer 2 networks like Polygon.
Polygonโs Benefits for Sponge
- Polygon offers low fees and superior transaction speed compared to Ethereum, making it ideal for game platforms like Sponge.
Successful Transition to V2
- The migration process from the ERC20 V1 token to V2 has been executed smoothly.
- Currently, there are 8.55 billion $SPONGE V2 tokens staked, accounting for nearly 20% of the circulating supply.
- Stakers are earning token rewards at a rate of 189% per annum on Ethereum and 909% per annum on Polygon.
Last Chance to Buy $SPONGE V2
- Centralized exchange listings for $SPONGE V2 are set to begin soon, so time is running out for market participants to purchase the token.
$SPONGE V2 Price Surges by 4,917%
The price of $SPONGE V2 has skyrocketed to $0.001254, representing a remarkable 4,917% increase from the V1 launch price of $0.000025. The current diluted market capitalization stands at $49.5 million, while the undiluted valuation is $183.9 million. Liquidity in the SPONGE/WMATIC pair is healthy at $558,670.
Sponge Secures Position as Layer 3 for Crypto Gaming
Sponge has made strategic moves to establish itself as a go-to Layer 3 platform for crypto gaming:
- By leveraging the benefits of Ethereumโs Layer 1 security and upgrade roadmap and combining it with Polygonโs Layer 2 scaling solution, Sponge aims to overcome usability issues and enhance the user experience.
- The exact details of this architecture are yet to be revealed, but excitement is growing in the Sponge market as the altcoin season begins.
- The Sponge game app is slated to be launched in Stage 3 of its roadmap.
Sponge V2: The New Smart Money in Crypto Gaming
Unlike established gaming projects, Sponge has shown agility and adaptability by making strategic turns like its pivot to Polygon. The team is currently developing a Play-to-Earn game, which further adds to the projectโs appeal. With a well-structured tokenomics plan and upcoming game launch, now is an opportune time to invest in Sponge V2.
Hot Take: Sponge Makes Waves in the Crypto Gaming World
As Sponge continues to gain traction in the crypto gaming industry, its transition to Polygon has proven successful. With significant staking and bridging achievements, along with an impressive price surge, Sponge V2 is positioned for further growth. Stay tuned for more updates from this dynamic meme coin!
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