Soak the Sponge with app.sponge.finance !
New token and our own dapp will be out within the next hours !
Hello Spongers, it’s Decentralized Stef again, and today we have a lot to introduce !
First the new Soak Token !
The $Soak token is the main token that will be emitted by our dApp. It’s here to give you many farming and stacking options, but also to give value to $SPG
- Contract address: 0x849233ff1aea15d80ef658b2871664c9ca994063
- No max supply for now !
- UPDATED: 1 new tokens per block ! (changed from 6.66 after community vote on our telegram)
- 2% of every transactions are sent to the Soak contract and will be used in the “Soak the Sponge” event (detailled later in the post) !
- Planned burn and emission regulation later, so enjoy $Soak while you can get some easily !
- It will be the token used for the ‘Squeeze the Sponge” events that will come later (I’ll tell you more about this in the next days/weeks, be patient !).
- It will be used later for new stacking options to earn partners or community tokens
- Initial liquidity 50 BNB/15000 SOAK
- It’s probably the wettest token of the whole BSC 😂
WTF is the “Soak the Sponge” event ?!
So as I said 2% of every $Soak transaction goes on a special contract adress. On the main page of the dapp you can find a button (labels may change on released version).
By clicking it you’ll get 0.1% of the $Soak tokens from the contract to cover fees, and you’ll launch the “Soak the Sponge” event.
This event will basically take the Soak, convert it to BNB. Then 66% of this BNB will buy $SPG (making its price rise !). And 50% of the $SPG will add locked liquidity with the BNB left !
To resume every transaction of $Soak end up with increasing $SPG price and liquidity !
Ok nice ! What about the new Farming and Stacking options ?
So here is the list of what we will provide at launch :
- $Soak farming with Soak/BNB
- $Soak farming with SPG/BNB
- $Soak farming with BUSD/BNB
- Stacking $Soak for $SPG. First round is 4000 $SPG over one week. We will add some $SPG again at the end of first week, but number still need to be defined.
- Stacking $Soak for $Soak
We will probably create new farms with $Soak or $SPG pairs in the next days ! And a Stacking option with $SPG for $Soak is almost ready (we have front end issue that is not solved yet, should be fixed in the next days)
That’s all for now ! More news later !