Log In
CoinEx Academy

Smooth Love Potion: What Makes SLP Unique?

2023-03-14 06:40:52

A whole new universe of opportunities has been made available due to the development of NFTs. Several new gaming metaverses developed on the blockchain by many organizations have enabled users to make money while playing. Axie Infinity is one of them, and since 2018, it has been steadily gaining more and more fans.

In this article, we’ll learn about Smooth Love Potion (SLP), the in-game currency of Axie Infinity.

Smooth Love Potion SLP coin

What Is Smooth Love Potion SLP?

The Smooth Love Potion (SLP) is an ERC-20 token that is a game asset for the widely popular blockchain-based gaming metaverse Axie Infinity. In this game, players gather one-of-a-kind digital pets referred to as Axies, represented by non-fungible tokens (NFTs). 

Players can generate their Axies, sell them, or use them in combat against other players. The Axie Infinity video game features a decentralized economy with many tokens. Also, it uses the ERC-20 token known as Axie Infinity Shards (AXS) as a governance token for its associated ecosystem.

Players must use SLP crypto tokens in-game to speed up the process of breeding Axies. Earning it in the Axie Infinity metaverse is possible but can also be traded on supported cryptocurrency exchanges. This is an essential caveat because it offers complete market access to the in-game money. 

SLP was extracted from the Axie game metaverse and placed on the cryptocurrency market when a liquidity pool for ETH-SLP was established on the decentralized exchange (DEX) Uniswap. This action led to the establishment of an external market for SLP. 

SLP has proved the importance of in-game assets within the metaverse and beyond as Axie Infinity has evolved into one of the most successful blockchain-based games.

What Makes Smooth Love Potion Unique?

Smooth Love Potion (SLP) can be bought and sold on decentralized exchanges and used to acquire items. Let's learn the many different unique aspects of SLP.

Axies can be bought and sold. The buying and trading of Axies, which are adorable small creatures you may gather and train in the game Axie Infinity, is the primary use case for the SLP. Because each Axie possesses its attributes and skills, they are valuable in gameplay and collecting. Either ETH or SLP can be used to purchase Axies; however, the pricing in SLP is almost always significantly higher.

SLP is required to create new items for the Axie game, such as the Mystic class of Axies. As a new item is created, a percentage of the entire supply of SLP is burned. This decreases the total supply of SLP while raising the value of each token still in circulation.

You can trade SLP on decentralized exchanges and buy and sell Axes. Axes can be bought and sold on exchanges (DEXes). Without the need to go through a centralized exchange, this allows you to speculate on the price movements of the token. As an ERC20 token, SLP is interoperable with all significant DEXs, including Uniswap, Kyber Network, and 0x Protocol. These DEXs include Uniswap, Kyber Network, and 0x Protocol.

The processing of payments and tips is yet another use case for SLP. You can pay for goods and services with the token, as well as give a tip to someone for their content or effort. This is comparable to how one would utilize ETH or any other cryptocurrency. Yet, because there is a finite amount of SLP, it may be worth more over time than other cryptocurrencies. Because of this, it is an excellent option for making payments and giving tips if you want to keep the value you have.

What Is SLP coin?

Smooth Love Potion, often known as SLP coin, is the cryptocurrency that is used exclusively within the well-known blockchain game Axie Infinity. Users can acquire SLP through various means, including trading with other players, participating in special events and activities, and participating in promotional endeavors. 

Selling or producing your Axies is one of the most simple methods for acquiring SLP because either of these activities can generate significant quantities of this cryptocurrency. There are many ways to gain SLP in Axie Infinity, so whether you are a serious player or just looking for a simple way to make some extra profits, there is no shortage of opportunities.

SLP Tokenomics

The quantity of SLP coins is infinite, and the tokens that make up its rotating are constantly changing. Alterations are also being made to the game's economics. 

Therefore, playing the Axie Infinity game is necessary to maintain a sufficient amount of SLP cryptocurrency. As the number of users of Axie Infinity grows, there will be a proportional increase in the total amount of SLP produced due to an increase in the number of players participating in the game, the number of matches played within the game and additional activities that produce SLP.

As a result of the play-to-earn economics, the SLP token is valued on the Axie Infinity market and the cryptocurrency market. Unlike other in-game currencies, smooth love potion stands apart because its token may be traded on decentralized markets. In addition, you can sell it for a milestone exchange on the Axie Infinity market, the Metaverse market, and the NTF market.

What Is Ergo and How to Buy ERG?
Web3 Trends: Entrepreneurs, Office Workers, and Speculators