Michael Wrubel Reviews the New Play-To-Earn Meme Coin – Can It Follow the Success of $SPONGE?

Some early investors, including Michael Wrubel, a YouTube analyst with 310,000 subscribers, publicly traded Sponge V1 and earned upwards of $100,000.

Michael Wrubel highlights the potential of the rapidly growing meme coin, Sponge V2, by pointing out the success of its earlier version, Sponge, which achieved over a 50x return.

Wrubel’s emphasis on the earlier version’s success testifies to the favorable conditions surrounding Sponge V2 and implies a positive outlook for this emerging cryptocurrency.

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Sponge V2: Can it replicate the 50x return of its predecessor?

Sponge, the first iteration of this meme-inspired token, exploded in popularity, achieving over 50x its launch price and even briefly hitting 100x. Building on this momentum, Sponge V2 is now in presale, raking in significant investment.

Sponge V2 stands out because it keeps things simple in the crypto world by using popular memes, especially those about SpongeBob, on social media. Michael Wrubel pointed out how Sponge’s unique approach with meme coins helped it grow, even when the overall market wasn’t doing so well.

Now, with Sponge V2, people can join in early during its presale. You can buy tokens with USDT or a card, and it also connects directly to your wallet, just like the original Sponge token.

The project’s white paper explains how it went from V1 to V2, highlighting the success of Sponge V1 and how it got listed on big exchanges like Bitget, Gate.io, and MEXC. Wrubel is optimistic about Sponge V2, pointing out its strong connections with top-tier exchanges and media companies.

Sponge V2 presents a unique presale approach with two options for acquiring this new token. Firstly, you can purchase and stake Sponge V1 using the buy widget on the sponge.vip website. Alternatively, you can stake the Sponge V1 tokens you already hold through the sponge.vip website.

The earning potential for V2 tokens is directly linked to the quantity of V1 tokens you stake and the duration of your stake. As the remaining supply of Sponge V1 is depleted, Sponge V2 will become available for claim, creating an incentivized system for participants based on their staking activity with the original Sponge token.

Sponge V2 roadmap and tokenomics

When we look at Sponge V2 tokenomics, we see a well-thought-out distribution plan: 7.5% for marketing, 4.47% for game development, 8% for play-to-earn rewards, 10% for liquidity on centralized exchanges, 26.93% for bridging $SPONGE, and a substantial 43.09% for staking rewards.

This breakdown indicates a carefully designed strategy for lasting growth. After the staking period ends, users can claim their Sponge V2 tokens through the website. The roadmap is structured into three stages.

In the first stage, there will be announcements and the launch of staking, accompanied by a Buy to Stake Bonus and Sponge Game Research. Moving on to the second stage, there will be the claim and listing of $SPONGEV2, the development of the Sponge Game, and a target of reaching 10,000 holders.

Finally, in the third stage, plans include securing Tier 1 Centralized Exchange (CEX) listings, launching the Sponge Game App, and aiming to achieve a $100 million market cap.

Sponge V1 to Sponge V2 – Stake to Bridge

Sponge V2 introduces a special way to get the legendary Sponge Token back. Here’s how you can do it:

1. Holders: If you have the original $SPONGE tokens, stake them through the V2 smart contract on the website to get the new V2 token.
2. New Buyers: If you’re a new buyer, get $SPONGE from the home page widget, and it will automatically be staked in the V2 smart contract.
3. Current Stakers: If you’re already staking in V1, take your tokens out and stake them in the V2 smart contract to secure your share of the new V2 token.

Exclusive Features of Sponge V2:

• Exclusive Launch: You can only get $SPONGEV2 by staking $SPONGE.
• Buy & Stake Bonus: Get a special bonus in $SPONGEV2 by buying and staking $SPONGE.
• Permanent V1 Lock: Once you stake $SPONGE, it stays locked permanently.
• Passive V2 Rewards: Keep your $SPONGE tokens staked to see your holdings grow over four years, starting at a minimum of 40% APY.

#Sponge is making a comeback, bigger and more absorbent than ever before – this time with added utility!

We’re transitioning from V1 to V2 by launching a new ERC-20 token on #Ethereum via a #Stake-To-Earn method. ????????????

Visit our website to learn more! ????#SpongeV2 #Crypto pic.twitter.com/OxPwRspYUZ

— $SPONGE (@spongeoneth) December 24, 2023

Sponge V2 staking mechanics and P2E game for exciting token rewards

When you send V1 tokens to the V2 staking pool, you’ll get an equivalent amount of V2 tokens and earn more V2 tokens based on the variable annual percentage yield (APY). The more V1 tokens you stake, the more V2 tokens you’ll earn. For more information, see our guide to the best staking platforms here.

It’s important to know that once you stake V1 tokens, they stay locked forever, signaling the shift away from supporting V1 tokens after Sponge V2 launches. But this time, it’s not just about following market trends—Sponge V2 is adding Play-to-Earn (P2E) utility to its system.

To get bonus V2 tokens, either buy or stake $SPONGE using the widget on sponge.vip, and then keep your V1 Sponge staked to earn even more Sponge V2. The Sponge V2 team is creating a special Play-to-Earn (P2E) game, bringing an exciting new purpose to the token.

Users can earn $SPONGEV2 tokens by playing the game and ranking on the leader board. The game will have both free and paid versions, so users can play for fun or use $SPONGEV2 tokens to buy game credits for extra in-game earnings. To take part in the presale, visit sponge.vip.

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