What Is Smooth Love Potion (SLP)?
Smooth Love Potion (SLP) is an ERC-20 token that belongs to the Axie Infinity game ecosystem. Axie Infinity is an NFT-based game, which revolves around collecting, breeding, and raising Axies (animated fantasy creatures). Axies can also be bred with one another to create new Axies, and used in the battles against other players.
The primary use case of SLP tokens is breeding Axies. One user can breed a maximum of 7 Axies. The first Axie breeding costs 100 SLP tokens. However, the cost keeps increasing, reaching 2,100 SLP tokens for breeding the 7th Axie.
SLP tokens can either be earned while playing the game or bought on crypto exchanges. If you want to earn SLP tokens, you need to participate in Axie Infinity competitions and tournaments, or complete in-game quests. However, if you plan to buy SLP tokens, take a look at the Smooth Love Potion price chart above to see the current SLP price.
Though keep in mind that, in addition to breeding Axies, SLP tokens can also be used as a means of exchange on a number of cryptocurrency exchanges. This is what makes Smooth Love Potion tokens quite unique since not many in-game tokens get listed on crypto exchanges. Besides, SLP is listed on Binance’s Innovation Zone, which is a designated trading area where users can exchange new, cutting-edge tokens that are probably more volatile and risky than other tokens.
Lastly, SLP tokens can also be staked in a liquidity pool created specifically for that on Uniswap. By staking SLP tokens, users are able to generate staking rewards.
Who Developed Smooth Love Potion Tokens?
SLP tokens, together with Axie Infinity, were developed by Sky Mavis game studio founded by Trung Nguyen, Aleksander Larsen, and Jeffrey Zirlin. Initially, Smooth Love Potion crypto assets were known as Small Love Potion tokens. However, later on, the name was changed.
Besides, even though SLP tokens are based on the Ethereum network, they are minted on the Ronin chain, which is a sidechain developed specifically for the Axie Infinity game. It provides users with way lower gas fees compared to the Ethereum network.
Tokenomics of SLP
There is no max supply set for Smooth Love Potion tokens. This is the case because SLP tokens are minted based on the demand of the Axie Infinity players. Due to that reason, the SLP price is especially affected by the number of active Axie Infinity players. When there are more Axie players, more Smooth Love Potion tokens are created, which lowers the Smooth Love Potion price. When there are fewer players, the result is the opposite.
However, there is a burning mechanism employed, which burns a portion of SLP tokens whenever there's a new Axie created. This lowers the token supply and keeps the SLP price from decreasing too much.
