Sponge V2 represents the second generation of the popular Sponge ($SPONGE) meme coin, launched for the first time in May 2023. This new token will replace the old $SPONGE, introducing new functionality and opportunities for holders
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History of Sponge V1
Soon after its launch, $SPONGE saw a rapid rise, going from an initial market capitalization of 1 million dollars to nearly 100 million dollars. Within a few days, $SPONGE was listed on 10 centralized cryptocurrency exchanges, including LBank, MEXC, Poloniex, and Bitget. The project has accumulated more than 13,000 token holders and more than 30,000 followers on social platforms such as
X and Telegram.
Despite an initial peak of $0.001061 on May 9, $SPONGE experienced a sharp decline. However, unlike other meme coins, $SPONGE has maintained some popularity, trading around $0.0001 during the summer and fall, with more than
11,000 token holders.
Utility of the Sponge V2 Token
Sponge V2 tokens offer several utilities:
- Stake-to-Bridge: Holders can stake their tokens to earn additional V2s and transfer them to other blockchains using Sponge’s proprietary bridging system. This provides access to different DeFi ecosystems and potentially greater returns
- Play-to-Earn Game: A play-to-earn game is under development that allows players to compete and earn V2 tokens based on their performance. This gamifies ownership of Sponge V2 and attracts new users
- Community Engagement: Sponge V2 actively involves its community through social channels and events, fostering a sense of belonging and attracting new investors.
- Future Utility: The team plans to add additional functionality in the future, such as DAO governance, NFT integration, and real-world use cases.
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to the ecosystem.
Price Performance
- All-Time High: $0.004217 (9 March 2024)
- All-Time Low: $0.00007346 (30 May 2024)
Tokenomics by Sponge V2
- Total Bid: 150,000,000,000
- Token Bridge: 26.93%
- Staking Rewards: 43.09%
- CEX liquidity: 10%
- Marketing: 7.5%
- P2E rewards: 8%
- Game Development: 4.47%
Is Sponge V2 Legit?
Property Information
There is no information available on the website regarding the owners or the team behind Sponge V2. Only one support email address is available.
Check KYC
No information was found about the KYC verification of the Sponge V2 contract. The contract is not KYC verified
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Contract Audit
Solid Proof audited the Sponge V2 contract at 0x25722CD432D02895D9BE45F5DEB60FC479C8781E.
Audit Results (Positive)
- The contract provides information on the total token supply.
- It provides the owner’s account balance.
- The contract can make transfers of a specified number of tokens to a specified address.
- It allows a spender to withdraw a set number of tokens from a specified account.
- The owner cannot mint new tokens.
Audit Results (Negative/Unknown)
- The owner cannot lock the tokens.
- The owner cannot burn the tokens.
- The landlord cannot pause contracts.
- The owner cannot set commissions higher than 25%.
- The owner cannot blacklist or prevent Snipe.
These are important parts of the contract that were not tested in the SolidProof audit.
Sponge V2 Roadmap
Phase 1
- Sponge V2 announcement.
- Launch of staking for $SPONGEV2.
- Development of the Sponge Game game.
Phase 2
- Staking and listing of $SPONGEV2 tokens on bigger and better exchanges.
- Development of the game Sponge Game and reach 10,000 owners.
Phase 3
- Listing on tier 1 exchange (CEX).
- Launch of the Sponge Game game.
- Achieving a market capitalization of 100 million dollars.
- Social media dominance.
Sponge V2 represents an interesting evolution in the world of meme coins, offering new features and opportunities for token holders. However, as with all pre-sale cryptocurrencies, it’s essential to conduct a thorough analysis before investing. Information about cryptocurrencies in presale is often limited and uncertain, so it is advisable to do extensive research and consult a registered financial advisor to guide your financial decisions.