The Sponge meme token team has announced the launch of the staking of the second version of tokens (V2). This is reported in a press release.
To receive Sponge V2, you need to send Sponge V1 to the stake on the Sponge website. The smart contract will accrue rewards in Sponge V2.
"All V1 tokens sent to staking will reserve an equivalent number of new tokens and allow you to earn additional Sponge V2. The more funds there are in the betting, the more earnings," the press release says.Tokens of the first version will be blocked forever: they cannot be withdrawn or sold. After the launch of Sponge V2, the project team will stop supporting Sponge V1.
You can buy V1 tokens on Sponge for Ethereum (ETH), Polygon (MATIC) or Tether (USDT) by connecting a MetaMask wallet or the WalletConnect protocol. The purchased tokens will be automatically transferred to staking.
Sponge is a meme token launched in May 2023 on the Ethereum and Polygon networks. It is traded on Poloniex, Bitget, MEXC and other centralized exchanges, as well as on DEX Uniswap. Over the past week, the price of the token has increased by 20%, reaching $0.0001.
Along with the launch of Sponge V2, the developers plan to introduce a P2E game. For more information about the second version of the token, see the whitepaper Sponge V2.