Smooth Love Potion (SLP)

Last Updated: 30/06/2022

Official Website: https://axieinfinity.com/

What Is Smooth Love Potion (SLP)?

By taking part in the Axie Infinity game, players can acquire Smooth Love Potion (SLP) tokens. Experience points are swapped out for this digital asset.

SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies. Beginning at 100 SLP, the cost of breeding rises steadily to 200 SLP for the second breed, 300 SLP for the third, 500 SLP for the fourth, 800 SLP for the fifth, and 1,300 SLP for the sixth. The seventh breed of Axies costs 2,100 SLP and can only be produced a maximum of seven times. This cap is in place to guard against market hyperinflation.

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 breed.

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.

In terms of 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.

Team

Founded in 2017 by Sky Mavis

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 is 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)

Axie Infinity provides their own wallet called the Ronin Wallet. This wallet service act as a ‘boarding pass’ to the digital nation and game. The Ronin Wallet can be downloaded to a mobile device through the Google Play store or App Store, or as a browser extension through Chrome, Firefox and Edge. The wallet can hold both Ethereum (ETH) and NFT’s such as Axies and items.

Options to keep your Smooth Love Potion (SLP) secure and offline can therefore include the leading hardware wallet provider Trezor.

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

Another option where you can store your Smooth Love Potion (SLP) is in Exodus along with various other cryptocurrencies. 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.

Similarly, a user-friendly option to keep your $SLP secure can include MetaMask, a 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 your MetaMask wallet.  

Where to buy and sell Smooth Love Potion (SLP)

You can Buy & Sell Smooth Love Potion (SLP) by heading over to the Buy Coins page of our website. Smooth Love Potion (SLP) is available on BC Bitcoin trading against major fiat currencies: GBP and EUR. Buying $SLP has never been easier, simply place your order and provide your wallet address. Once your payment arrives Smooth Love Potion (SLP) will be sent directly to your wallet.

If you choose to Sell Smooth Love Potion (SLP) you can send us the coins and receive a payment to your bank account. Details and valuation can be found on our Sell Coins page.

Smooth Love Potion (SLP) Resources:

Website: https://axieinfinity.com/

Block Explorer: https://etherscan.io/token/

Twitter: https://twitter.com/SmallLovePotion

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.