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What is Smooth Love Potion (SLP)?
Smooth Love Potion basic info
What is Smooth Love Potion (SLP)?
Players can earn Smooth Love Potion (SLP) tokens by playing the Axie Infinity game. This digital asset serves as a substitute for experience points. SLP tokens are ERC-20 tokens, and they can be utilized to breed new digital pets called Axies.
The breeding cost starts at 100 SLP but gradually increases, reaching 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 up to seven times, and the seventh breed costs 2,100 SLP. This limitation exists to prevent hyperinflation in the marketplace. Winning 15 competitions may be required for a player to accrue enough SLP for their first breed, which can take time. Purchasing SLP on the open market is an option for gamers looking to get a headstart.
Who are the Founders of Smooth Love Potion (SLP)?
Have you ever wondered who the founder of Axie Infinity is? It's actually Trung Nguyen, the CEO of the company that created the game.
He left his job as a software developer in the United States to focus on the project. Nguyen was motivated to explore blockchain's potential in gaming because he was frustrated with how players don't really own valuable assets in other popular games. He saw creating his "dream game" on the Ethereum platform as the ultimate opportunity. The breeding process in Axie Infinity, which utilizes SLP tokens, is designed to be similar to other collectible games like CryptoKitties.
What makes Smooth Love Potion (SLP) Unique?
It's not very common for in-game currency to be traded on exchanges, but SLP has managed to do just that. It's almost like Nintendo deciding to give monetary value to the coins used in Super Mario. According to Nguyen, Axies are different from other non-fungible tokens because they require nurturing to reach adulthood. SLP is also special because it's one of the few in-game tokens listed in Binance's Innovation Zone, which is reserved for assets that are considered riskier and more volatile than other tokens.
How is the Smooth Love Potion Network Secured?
Smooth Love Potion operates on the Ethereum blockchain as an ERC-20 token, rather than having its own blockchain.
Conclusion
Smooth Love Potion's unique combination of integration within the Axie Infinity ecosystem, scarcity, decentralization, and potential for wider adoption make it an asset worth keeping an eye on in the rapidly evolving world of cryptocurrencies. However, it is important to exercise caution and conduct thorough research before engaging in any financial transactions involving cryptocurrencies, as their value can be highly volatile and subject to market risks.
SLP supply and tokenomics
Uniqueness
It’s fairly unusual for in-game currency to be listed on exchanges like 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.
Token utility
Smooth Love Potion (SLP) is an ERC-20 token that is the in-game asset of the popular blockchain-based gaming metaverse Axie Infinity. In this game, players collect unique digital pets called Axies — represented by non-fungible tokens (NFTs) — which they can breed, sell, or deploy in battle against other players. The Axie Infinity game has a multi-token economy, and uses another ERC-20 token called Axie Infinity Shards (AXS) as a governance token for its ecosystem.
SLP crypto tokens are used in-game to facilitate the breeding of Axies. It can not only be earned in the Axie Infinity metaverse, but can also be traded on supported cryptocurrency exchanges — a noteworthy caveat that brings wider market access to this in-game currency. The external market for SLP emerged when a liquidity pool for ETH-SLP was created on the decentralized exchange (DEX) Uniswap, bringing SLP out of the Axie game metaverse and into the crypto market. As Axie Infinity has grown into one of the most popular blockchain-based games, SLP has demonstrated the value of in-game assets both within the metaverse and beyond.
The SLP token does not have a hard cap to its total supply, and its circulating supply is in constant flux. This is because SLP tokens are continuously being generated from in-game activities, and are burned each time new Axies are spawned from the breeding process. In this way, the SLP crypto supply is contingent on activity in the Axie Infinity game. Because of this, it is anticipated that as the user base of Axie Infinity expands, there could be a significant increase in the amount of SLP being created thanks to increased player participation, in-game competitions, and other SLP-generating activities.
The SLP token has value in the Axie Infinity metaverse via play-to-earn economics as well as value in the wider crypto market. The fact that SLP is being traded on decentralized SLP token exchanges distinguishes it from most other in-game currencies. This represents a landmark not just for Axie Infinity and the Axie marketplace, but also for metaverses and NFT markets as a whole.
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What is the development prospect and future value of SLP?
The market value of SLP currently stands at $99.40M, and its market ranking is #322. The value of SLP is not widely recognized by the market. When the bull market comes, the market value of SLP may have great growth potential.
As a new type of currency with innovative technology and unique use cases, SLP has broad market potential and significant room for development. The distinctiveness and appeal of SLP may attract the interest of specific groups, thereby driving up its market value.
Is SLP worth investing or holding? How to buy SLP from a crypto exchange?
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