The crypto gaming space is exciting as $SPONGE, a gaming meme coin that has delivered a staggering 10,000% return to its early backers, reaches out to its community for guidance on distributing staking rewards.
Notably, this strategic move comes as $SPONGE prepares for its presale conclusion and eyes potential listings on major exchanges.
According to an official announcement, the $SPONGE team has launched a poll on X (formerly Twitter) from May 16th to May 21st to determine how staking rewards should be distributed. The poll offers four options: immediate access to rewards at the end of May, a one-month lock, or vesting the rewards over six months or a year.
Originally launched on Ethereum, $SPONGE recently transitioned to the Polygon network. This migration includes three groups eligible to claim tokens: presale participants, those who bridged to Polygon before February 5th, and holders who manually moved into a claim contract post-snapshot.
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The upgrade to $SPONGE V2 on Polygon follows a significant liquidity pool attack, accelerating the planned migration and enhancing the protocol’s staking model.
Since its launch in May 2023 at $0.000025, $SPONGE has seen exponential growth, with recent highs reaching $0.002763. The V2 upgrade on Polygon includes a revamped staking model offering a 335% yield, expected to attract more stakers as the project gains traction. The community’s choice of the staking rewards distribution will shape the token’s immediate landscape.
Adherents are bullish on $SPONGE, anticipating listings on major exchanges such as Binance and OKX, which could significantly boost the token’s visibility and accessibility. The forthcoming Sponge-themed play-to-earn (P2E) game, set in a virtual version of Bikini Bottom, aims to integrate gaming with incentives, further distinguishing $SPONGE from other meme coins.
The $SPONGE project combines meme culture with tangible utility through its dual-revenue model, encompassing staking rewards and gaming. This innovative approach positions $SPONGE as a potential disruptor in the meme coin market, challenging established tokens like $PEPE, $DOGE, and $WIF.
Early supporters are encouraged to participate in the staking rewards poll and take advantage of the presale window before $SPONGE potentially goes mainstream with exchange listings.
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