Quick Guide to Axie Infinity Smooth Love Potion (SLP)Token

Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves as a replacement for experience points.

SLP Token and Breeding

SLP are ERC-20 tokens, and they can be used to breed new digital pets 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 breeding. Purchasing SLP on the open market is a way for gamers to get a head start.

It’s not very common for in-game money to be available on exchanges like SLP. It resembles Nintendo’s decision to assign a monetary value to the coins utilized in Super Mario in certain ways.

Tokenomics

The quantity of SLP in circulation is somewhat erratic. That’s because fresh Axies are bred via this token system, which burns them. A significant rise in Axie Infinity players could lead to much higher levels of SLP entering the ecosystem as more contests are won and lost.

The Team behind Axie Infinity

Smooth Love Potion (SLP) is the native cryptocurrency of the Axie Infinity game developed by Axie Edge:

Founded in 2017 by Sky Mavis

Jeffrey Zirlin

Jeff Zirlin is co-founder and growth lead of Sky Mavis, the company behind the non-fungible token game, Axie Infinity. It is currently the highest grossing NFT game to date with over $2 billion USD in sales and two million daily active users. Jeff is one of Fortune’s NFTy 50 in 2021 and has been featured in CNBC, Wall Street Journal, Forbes, Nikkei Asia, KrAsia, VentureBeat and Coindesk.

Aleksander Leonard Larsen

Co-founder and COO of Axie Infinity, where he is responsible for handling the business side of the company. Aleksander has worked in the NFT industry since late 2017, focusing on blockchain games and player-owned economies.

Roadmap

Ronin Mainnet Launch

Date: February 2021
Type: Product Launch

A milestone in the progression of Sky Mavis’ Ronin project, the land and item NFTs used in Axie Infinity are eligible for transfer to Ronin Mainnet per an announcement.

The Great Migration

Date: April 2021
Type: Product Upgrade

Sky Mavis announces that Axies are being migrated to their proprietary Ronin (Ethereum) sidechain. This event, dubbed “The Great Migration” is seen as a major objective in the path towards low-cost, rich gameplay among a wide community of users.

Ronin Bridge Exploit

Date: March 2022
Type: Hacks & Exploits

Sky Mavis announces that sophisticated hackers attacked the Ronin blockchain’s bridge facility using private keys stolen from Sky Mavis. The thieves made away with over $600M US dollars worth of USDC and ETH, marking one of the largest ever crypto heists to date. The Ronin Network bridge remains offline as of publication (April 2022) for security reasons.

Series C Funding Round Closes

Date: April 2022
Type: Fundraising

In response to the Ronin bridge exploit, Sky Mavis conducted a private funding round led by Binance with $150M US dollars raised via equity sales. The funds are, per Sky Mavis, to be used alongside its own funds to reimburse affected users.

Where to store Smooth Love Potion (SLP)

Trust Wallet — is a multi-currency mobile wallet that enables users to simultaneously store a variety of digital assets in one place. Beginner-friendly mobile wallets may be appropriate for users looking for a convenient and accessible app, with trusted security and backup options.

Exodus — is free and easy to use and can be downloaded to either a desktop or mobile device. Exodus will then be tied to whichever device it has been downloaded to which will also be the device you will use to access and manage your crypto assets.

MetaMask - leading browser wallet extension popular amongst DeFi platforms and highly praised by developers. Users can integrate with the network’s Liquidity Mining pools by connecting to their MetaMask wallet.

Smooth Love Potion (SLP) Resources:

Website: https://axieinfinity.com/
Twitter: https://twitter.com/SmallLovePotion
Medium: https://medium.com/the-capital/smooth-love-potion-price-prediction-ce3a9f0e96d6

Disclaimer: The information provided in this article is intended for informational purposes only. It is the readers responsibility to complete their own research and due diligence.