Tuesday, November 7, 2023 – The much-awaited Sponge token ($SPONGE) Season 1 airdrop dropped today, in a move that saw around $100K distributed between participants. The competitive Season 1 airdrop enticed more than 20,000 active participants to compete in a series of Sponge challenges tied to engagement, trading, and $SPONGE token holding.
With more than 20,000 participants competing to secure their slice of the pie, a spot in the top 3 emerged as a highly-contested prize. Three participants amassed a combined 58M $SPONGE tokens, equivalent to 6% of the airdrop. The intense competition highlighted the enthusiasm and interest surrounding $SPONGE tokens and their potential value.
The first-place participant stood out from the pack by accumulating an astounding 41M total points, valued at an impressive $6,104. This individual established themselves as a major whale in the competition, showcasing their commitment and investment in $SPONGE tokens. The second and third-place participants secured significant amounts as well, with 10M total points ($1,151) and 7M total points ($1,053) respectively.
One of the notable aspects of the $SPONGE airdrop was its dedication to a fair distribution. With over 833,000,000 tokens distributed, no participant was left behind, and all 747 participants received a share in the $100k airdrop. This commitment to inclusivity and fairness in distribution is a testament to the grassroots nature of the $SPONGE project. The transparency provided by trackable transactions on Etherscan further emphasizes the project’s dedication to openness.
The conclusion of Season 1 marks the beginning of anticipation for the next airdrop in Season 2. $SPONGE holders can look forward to another opportunity to participate in the rewarding competition. To stay informed and ensure they don’t miss out, it is recommended that holders join the $SPONGE Discord channel, Telegram group, and follow official social media accounts for the latest updates.
In addition to the airdrop, $SPONGE token holders celebrated the successful launch of the $SPONGE staking program. Over 11,000 token holders took advantage of the opportunity to stake their tokens. The staking dashboard offers a variable rate, adjusting in real-time based on the quantity of $SPONGE staked.
Despite the rate’s variability, the Sponge staking APY is expected to remain high. Currently, the staking yield stands at an attractive 724% APY, providing an enticing incentive for holders to stake their tokens and enjoy the rewards. The staking program also offers lock-up periods with different reward multipliers. Holders can choose between a minimum 7-day lock-up period, a 30-day lock-up period with 1.5x rewards, a 60-day lock-up period with 2x rewards, and a 90-day lock-up period with 3x staking rewards.
Holders of $SPONGE tokens can easily access the live staking facility through the Sponge token staking dashboard. With user-friendly features and detailed information, the dashboard makes staking a straightforward process for token holders.
The conclusion of the highly anticipated $SPONGE Token Airdrop Season 1 brought excitement and rewards to thousands of participants. The competitive nature of the airdrop highlighted the interest and dedication of $SPONGE token holders. With transparency, fairness, and promising staking opportunities, $SPONGE continues to attract attention and build a strong community around its project.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice.