Smooth Love Potion (SLP) — The Axie Infinity Metaverse Token
Have you ever wished that you could earn money while doing something that you love? It is possible with a blockchain-based game called Axie Infinity that allows players to do that. Smooth Love Potion or SLP Token (Trade it here — SLP/USDT) is an integral element of the game, and here you will find everything you might need to know about it.
What Is Smooth Love Potion (SLP)?
Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves as a replacement for experience points.
SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies. The cost of breeding begins at 100 SLP but increases gradually — rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace.
It can take time to accrue SLP through the game, and a player may need to win 15 competitions in order to gain enough tokens to perform their first breed. Purchasing SLP on the open market is a way for gamers to get a head start.
What Makes Smooth Love Potion Unique?
It’s fairly unusual for in-game currency to be listed on exchanges as SLP has. In a way, it’s like Nintendo deciding to tie monetary value to the coins used in Super Mario.
Nguyen says Axies are different from other non-fungible tokens because of how they need to be nurtured if they are going to have any chance of reaching adulthood.
SLP is also unique because of how it has become one of the few in-game tokens to be listed by Binance in its Innovation Zone. The exchange has reserved this trading category for assets “that are likely to have higher volatility and pose a higher risk than other tokens.”
SLP Token can be traded on decentralized exchanges and used to purchase items outside of the game. Let us explore the various use cases of SLP.
The primary use case of SLP is buying and selling Axies, the cute little creatures that you can collect and train in Axie Infinity. Each Axie has unique stats and skills, making it valuable in gameplay and collecting. You can buy Axies using either ETH or SLP, but the prices are often much higher in SLP.
SLP is used to mint new Axie game items, like the Mystic class of Axies. Whenever a new item is minted, a portion of the total supply of SLP is burned, reducing the supply and increasing the value of each remaining token.
- Trading on decentralized exchanges
In addition to buying and selling Axies, you can also trade SLP on decentralized exchanges (DEX). This allows you to speculate on the price movements of the token without having to go through a centralized exchange. Since SLP is an ERC20 token, it’s compatible with all major DEXs, such as Uniswap, Kyber Network, and 0x Protocol.
- Payments and tips
Another use case of SLP is payments and tips. You can use the token to pay for goods and services or tip someone for their content or work. This is similar to how you would use ETH or any other cryptocurrency. But since SLP has a limited supply, it could potentially be more valuable than other cryptocurrencies in the long run. This makes it a good choice for payments and tips if you’re looking to hold onto your value.
Interested in GameFI tokens SLP?
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