2024-02-25 19:03:43
A Sponge was one of the biggest success stories of 2023, thanks to its unique design and the persistent work of the developers. Seeing the first successes, the team did not let the community down and worked persistently to perfect the ecosystem.
As a sign of this, SPONGEV2 was introduced, but unlike the first generation tokens, it already uses Polygon’s network.
Thanks to this strategic move, users can now trade at lower gas prices, and their investment can also be more secure.
Weeks ago, the first generation tokens were completely withdrawn and replaced by 8.55 billion pieces of SPONGEV2. The commitment of the community is clearly demonstrated by the fact that 20 percent of the total volume has already been committed.
After the release it is new altcoins its price has increased by nearly 5,000 percent, however, according to many, the biggest returns are yet to come.
This is how Sponge V2 got on Polygon’s network
Originally, like most meme tokens, the Sponge was also one of the countless ERC-20 cryptos. However, high gas prices posed a serious challenge to both developers and investors.
In many cases, a gas fee of 10-30 dollars must be paid during the connection, even for a minimal purchase.
The team was satisfied with this state of affairs, and in a completely unexpected and brave move, they decided to move the entire ecosystem to Polygon.
This took place at the beginning of February, while the transition was preceded by a long transition period.
Because Polygon is an ETH scaling solution, an incredible number of transactions per second can be done with minimal expenses.
Many expect that up to 65,000 transactions per second will be possible with Polygon following the release of Ethereum Dencun.
Understandably, the community welcomed the transition with bursting joy, so there are currently more than $10 million worth of tokens resting in the staking fund.
As the expected ETH update will reduce the gas fee of the entire network, it will soon be possible to connect with minimal expenses.
The world of Sponge is expanding with more and more uses
After the release of Sponge V2, a total of 8.55 billion Polygon tokens were created. More than 20 percent of this is the available supply, while a substantial part is allocated for high staking rewards.
This kind of tokenomics is a clear sign that the developers believe in the future of the project not only in the short term, but also in the long term.
Not to mention that the community also likes to stake Sponge V2, which means that most people think of meme altcoins as a long-term investment.
This is also reflected in the fact that the new tokens were able to break the previous high of $0.0012 following the listing.
Thanks to this, the total size of the project is currently worth 50 million dollars.
It’s also telling that SPONGE/WMATIC’s liquidity on PancakeSwap is over $550,000. Moreover, this amount has been continuously increasing since the listing on February 5, which means that a bright future can also be expected.
Thanks to the strategic network change and the amazing staking rewards, the Sponge V2 it really has everything that is essential for a good investment.
Tokenomics and roadmap
At the time of writing, Sponge V2 is already in the second phase of its roadmap. The most important thing to know is that Sponge will be available in the near future play-to-earn game.
Although little is known regarding the game, it seems likely that both a free and a paid version will be available. It is also known that there will be no difference in game experience between the two versions, only the obtainable rewards will be different.
Since this way the developers will reach a completely new layer, the value of Sponge V2 is expected to increase by leaps and bounds following its introduction.
For this purpose, the team allocated 4.47 percent of the tokens, while 43 percent covers staking rewards for 4 years. Another 7.5 percent was allocated to marketing expenses, while 36.93 percent covers the functioning of the ecosystem.
Finally, 8 percent of the total token pool will be distributed in the form of rewards that can be obtained in the soon-to-be-released game.
If you are interested in Sponge, the easiest way to make a purchase is a Sponge you can reach it via its website, which is also available in Hungarian.
Here, all you have to do is connect your crypto wallet to the site. Once you are done with this, complete the transaction using one of the available payment methods.
I’ll check out the Sponge V2 page
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**Attention! Our article above is guest content and does not constitute investment advice. The editors of BitcoinBázis do not take responsibility for what has been described and urge all readers to exercise caution in relation to cryptocurrency, CFD, token, cryptocasino, metaverse, DeFi, play-to-earn and ICO/STO/SAFT investments. Individual research and thorough verification of claims is highly recommended. Trade and play responsibly.**
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