SPONGE V2 Token Overview
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IMPORTANT UPDATE
Sponge V2 absorbing the damp on Polygon!
Spongers, we’re migrating from Ethereum to Polygon. Stake any $SPONGE you own before
the 5th of February 2024 to ensure you’re on the boat for the Sponge V2 launch.
Join our official staking pool now to secure your allocation of Sponge V2.
🚨 $SPONGE V1 will be discontinued on 5th of February at 11PM UTC. 🚨
Why we’re switching
Following a malicious attack on our liquidity pool, the Sponge team has decided to
accelerate a move to the new V2 token on Polygon.
This is to limit the scope of the hack, as liquidity on Ethereum unlocks on 6th of February as
per the original smart contract.
The Polygon network enables us to bring to market our fully decentralized Play-to-Earn
game with faster transactions and much lower fees.
What you need to do
1. Any $SPONGE tokens staked in our official pool will be automatically switched to the
new Polygon staking contract.
2. If you hold any $SPONGE tokens, stake them before the 5th of February in our
official staking pool. This is the only way to earn Sponge V2 tokens!
3. If you hold $SPONGE tokens on a centralized exchange, withdraw them and stake in
our official pool before 5th of February to earn variable APY and secure your
allocation of Sponge V2. Trading on CEXs will be suspended on 5th of February.
4. Any non-custodial $SPONGE holders that do not stake before 5th of February will
automatically be added to a 0% rewards staking contract. These users will be able
to stake their tokens on the new staking contract to earn rewards in the coming
days, or claim their tokens when claiming goes live. More details on this soon.
What the team is doing
1. We’ll discontinue $SPONGE V1 on 5th of February at 11:00 PM UTC and move all
holders to Sponge V2, effectively defunding $SPONGE V1. This will secure the
future of Sponge V2 on Polygon.
2. After $SPONGE V1 has been discontinued, we’ll deploy a new liquidity pool for
Sponge V2 on a decentralized exchange on the Polygon network.
Summary
Nothing changes in our vision for Sponge V2, we’ll simply be absorbing the damp on
Polygon. So make sure you stake your $SPONGE tokens before 5th of February 2024 to
secure your allocation of Sponge V2!
Are you prepared to explore the world of meme coins and go on an exciting search for them? You only need to look at Sponge V2, the most recent version of the well-liked Sponge coin that is sweeping the cryptocurrency scene in 2024. Sponge V2 presents fascinating chances for staking and earning rewards, regardless of your level of experience with investing or familiarity with the meme currency trend.
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