How to Buy SPONGE V2 ($SPONGEV2) in 2024 – Simple Walkthrough
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SPONGE V2 is an updated version of the explosive $SPONGE meme coin, which skyrocketed more than 100x after its launch in the spring of 2023. The new V2 token promises to deliver even bigger returns for investors through major listing exchanges, a play-to-earn game, and more absorption.
The only way to get SPONGE V2 right now is by staking the V1 token and bridging to V2. In this guide, we’ll explain how to buy $SPONGE V2 and explain why this is a sale investors won’t want to miss.
SPONGE V2 ($SPONGE) Sale Key Points
Here are the key points that investors need to know about the $SPONGE V2 sale:
- The only way to get $SPONGE V2 is by permanently staking and locking V1 tokens.
- Locked V1 tokens will yield staking rewards for 4 years, paid in $SPONGE V2 tokens at a variable APY.
- Investors who buy and stake $SPONGE V1 before it sells out will earn a 100% purchase bonus in V2 tokens.
- $SPONGE V2 will officially launch when the last V1 tokens are sold.
How to Buy SPONGE V2 ($SPONGE) – A Step-By-Step Guide for Beginners
Here’s how to buy $SPONGE V2 and make the bridge from V1 tokens:
Step 1: Create a Crypto Wallet
Set up a crypto wallet like MetaMask that’s compatible with ERC-20 tokens. MetaMask is free and secure, but any compatible wallet will work.
To use MetaMask, download the browser extension or mobile app and create a new account. Create a strong password and store the seed phrase somewhere secure.
Step 2: Buy ETH or USDT
Visit a centralized crypto exchange and buy ETH or USDT. Investors will need to swap these tokens for $SPONGE on the project’s site. Most centralized exchanges accept fiat payments, including credit cards.
Transfer the purchased ETH or USDT to the wallet set up in Step 1.
Step 3: Connect Wallet to SPONGE V2 Website
Visit the SPONGE project site and click ‘Connect Wallet.’ Follow the prompts to authorize the wallet connection.
Step 4: Buy $SPONGE V1 Tokens
Buying $SPONGE V1 tokens through the project site qualifies investors for a 100% purchase bonus in V2 tokens. Enter the amount of V1 tokens to buy in ETH or USDT, then click ‘Buy’ to complete the purchase. The tokens will automatically be sent to the connected crypto wallet.
Step 5: Stake $SPONGE V1
Click ‘Stake $SPONGE’ to permanently stake and lock the purchased V1 tokens to the new V2 smart contract. When $SPONGE V2 launches, these locked tokens will generate staking rewards paid in V2 tokens to the connected crypto wallet.
In addition, investors will be able to claim the V2 tokens from their purchase bonus. To claim, return to the $SPONGE project site and click ‘Claim.’
What is SPONGE V2?
$SPONGE V2 is an upgrade on the original $SPONGE meme coin, which launched in May 2023.
The original $SPONGE was a massive hit. The project was built around the already popular Spongebob Squarepants meme and it attracted more than 20,000 social media followers in just a few weeks.
After a fast presale, $SPONGE launched with a market cap of $1 million and quickly rocketed to a valuation of almost $100 million. In the process, early investors in $SPONGE saw 100x returns. The project now has more than 11,600 token holders according to DEXTools.
The token listed on many major crypto exchanges including Poloniex, Toobit, CoinW, MEXC, Gate.io, BTCEX, Bitget, BitMart, and BitKan. $SPONGE has maintained a lot of its popularity and had a $16 million market cap going into the announcement of a V2 token.
$SPONGE is also extremely popular on social media. The project has more than 24,000 followers on X and 8,000 subscribers on Telegram.
According to the $SPONGE whitepaper, $SPONGE V2 is designed to be “bigger, better, and more absorbent” than the original $SPONGE. The new token sets the stage for additional development and the team behind $SPONGE has plotted out an aggressive roadmap, as we’ll discuss more below.
SPONGE V2 Tokenomics and Bridging
$SPONGE V2 is an ERC-20 token that transacts on the Ethereum network. It has a total supply of 150 billion tokens, with the supply divided into allocations for 6 purposes:
- Staking rewards (43.09%)
- V1 purchase bonus (26.93%)
- P2E game development (4.47%)
- P2E game rewards (8.00%)
- CEX liquidity (10.00%)
- Marketing (7.50%)
The $SPONGE V2 sale is distinct from most other top crypto presales in that investors can’t simply buy $SPONGE V2 tokens. Instead, the only way to acquire $SPONGE V2 is by bridging from the V1 token.
In order to get $SPONGE V2, investors must stake V1 tokens to the V2 smart contract. Staked tokens will be permanently locked, so investors cannot get them back. The locked tokens will generate rewards, paid in V2 tokens, at a variable APY for a period of 4 years.
To encourage investors to join $SPONGE V2, the project is offering a 100% purchase bonus in V2 tokens for investors who buy $SPONGE V1 now and bridge the tokens to V2. V2 tokens earned through the purchase bonus will be available to claim as soon as $SPONGE V2 officially launches.
SPONGE V2 Roadmap
The team behind $SPONGE has set several ambitious goals for the V2 token. Let’s take a closer look.
Binance and OKX Exchange Listings
The biggest goal on the $SPONGE V2 roadmap is to achieve listings on Binance and OKX, the world’s 2 largest crypto exchanges by trading volume. Listing on these exchanges would be a huge deal for $SPONGE, which started as a tiny meme coin with just a $1 million market cap.
Listings on either exchange would likely send the price of $SPONGE shooting higher. Binance recently listed the $ORDI meme coin and saw the token’s price spike 120% after listing.
Play-to-Earn Game
The developers behind $SPONGE are hard at work on a new play-to-earn game that will let players race around Bikini Bottom as Spongebob and friends. The game will offer both a free mode and a play-to-earn mode. In the P2E version, players who climb the game’s leaderboard will be rewarded with $SPONGE V2 tokens.
The game can increase the appeal of $SPONGE to audiences like gamers who may not otherwise join the project. It can also build engagement within the $SPONGE community, which is good for the project’s long-term health.
The development team hasn’t yet announced a launch date for the game, but it’s expected to go live in 2024.
$100 Million Market Cap
$SPONGE almost hit a $100 million market cap in May 2023, peaking just shy of that milestone. Now, the project wants to get back to $100 million and shoot even higher.
Achieving this goal would put $SPONGE in the ranks of massively valuable meme coins like Dogecoin, Shiba Inu, and Pepe.
The goal is also likely to be within reach—$SPONGE already has a $16 million market cap, so it would require less than a 7x gain to reach $100 million.
$SPONGE could also have a tailwind behind it if the crypto market turns bullish in 2024. Many analysts are now predicting a bull market in 2024, which could send meme coins like $SPONGE soaring.
Why Buy SPONGE V2 During the Sale?
There are several reasons why investors should be excited about $SPONGE and take advantage of the current sale.
The potential of this token is enormous. $SPONGE already delivered a 100x return for investors once, and it looks set to do it again.
During the last crypto bull market, Dogecoin—then the biggest meme coin—gained 23,000% in a single year. $SPONGE could be the biggest meme coin of the 2024 bull market and see similarly eye-popping gains.
Crypto influencers are lining up behind the new $SPONGE V2 token, a sign that this could be the next crypto to explode. Jacob Bury, who was one of the first to highlight the potential of the original $SPONGE coin, has already thrown his weight behind the V2 token.
Even better, investors who buy $SPONGE right now and make the bridge to V2 can take advantage of a limited-time purchase bonus. Investors will get 1 V1 token to stake and 1 V2 token to claim upon launch.
So, investors effectively double their investment in $SPONGE just for being early to join the V2 launch.
Conclusion
$SPONGE V2 is a meme coin with explosive potential heading into the 2024 crypto bull market. This meme project has a huge social following and a devoted community of token holders that’s likely to make the V2 launch an event to remember. Plus, $SPONGE could shoot even higher when it lists on Binance and OKX or when it launches its new play-to-earn game.
Right now, investors who buy $SPONGE and bridge to the V2 token will earn a 100% purchase bonus. Don’t miss this chance to get in early on $SPONGE V2.
References
- https://www.dextools.io/app/en/ether/pair-explorer/0xf935f557e06a7d040dea4691f90c9a755301818b
- https://www.binance.com/en/feed/post/1671726
- https://www.coindesk.com/business/2023/12/20/tis-the-season-to-be-jolly-about-the-crypto-market-in-2024/
- https://www.cnbc.com/2021/05/05/how-much-a-1000-dollar-investment-in-dogecoin-is-worth.html
- https://www.youtube.com/watch?v=DCatUf8iqko
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Michael Graw
