Smooth Love Potion (SLP) tokens are gained by engaging with the Axie Infinity game. These tokens act as a substitute for traditional experience points.
As ERC-20 tokens, SLP can be utilized to breed new digital creatures, specifically Axies. The initial cost to breed is 100 SLP, but it gradually escalates—200 SLP for the second breeding, 300 for the third, 500 for the fourth, 800 for the fifth, and 1,300 for the sixth. Axies can only be bred up to seven times, with the final, seventh breed requiring 2,100 SLP. This restriction is in place to curb the risk of excessive inflation in the market.
Gathering SLP through gameplay can be a slow process, potentially requiring a player to win 15 battles to accumulate enough tokens for their first breeding attempt. For those who wish to expedite their progress, buying SLP on the market is an option.
Who Are the Founders of Smooth Love Potion?
A more pertinent question would be: who established Axie Infinity? Trung Nguyen, the CEO of the company behind the game, left his position as a software developer in the United States to dedicate himself to this venture.
Nguyen was inspired to delve into the possibilities of blockchain in gaming due to his dissatisfaction with the fact that many players lack ownership of their valuable assets in popular games. In an interview with Blockchain Gamer, he expressed that the Ethereum platform provided him with the perfect chance to craft his "dream game."
He points out that the breeding mechanism, which utilizes SLP, is intended to be relatable to those who have engaged with other collectible games, such as CryptoKitties.
What Makes Smooth Love Potion Unique?
It's quite rare for in-game currencies to be available on exchanges like SLP is. It's akin to Nintendo assigning real-world value to the coins collected in Super Mario games.
Nguyen highlights that Axies differ from other non-fungible tokens due to the nurturing they require to mature into adulthood.
Another aspect that sets SLP apart is its status as one of the select few in-game tokens listed by Binance in its Innovation Zone, a trading category reserved for assets that are expected to have higher volatility and present more risk compared to other tokens.
How Many Smooth Love Potion (SLP) Coins Are There in Circulation?
When discussing tokenomics, the supply of SLP is dynamic. This is because tokens are burned during the creation of new Axies. Nonetheless, the circulating supply was in the tens of millions at the time of writing, and there's no fixed cap for this ERC-20 token.
A significant rise in Axie Infinity's player base could lead to a substantial increase in the amount of SLP flowing into the ecosystem as more players win and lose competitions.
The price of Smooth Love Potion surged to an all-time high of $0.3642 on May 1, 2021, before dropping by nearly 75%. Prices then peaked again in mid-July, reaching $0.3462. Since then, the price of Smooth Love Potion has been on a downward trend.
How Is the Smooth Love Potion Network Secured?
Smooth Love Potion doesn't operate on its own blockchain; instead, it functions as an ERC-20 token on the Ethereum blockchain.
Where Can You Buy Smooth Love Potion (SLP)?
Initially, when SLP was launched, it didn't have a variable value like other cryptocurrencies. This changed with the creation of a liquidity pool for SLP on Uniswap. As previously mentioned, the Binance Innovation Zone has extended support to this Pokémon-inspired game.
Currently, the primary platforms for purchasing, selling, and trading SLP include Binance, KuCoin, Gate.io, Gemini, OKEx, Uniswap (V3), SushiSwap, among others.
Various trading pairs are available, such as SLP/ETH, SLP/USDT, and SLP/BUSD. There is notable interest in the SLP to PHP conversion in the Philippines, SLP to AUD in Australia, and SLP to EUR in Europe.
These factors mean that acquiring SLP directly with fiat might present some challenges. Consequently, you may need to first convert your dollars, pounds, or euros into a more widely recognized cryptocurrency like Ethereum.
