Smooth Love Potion (SLP) is an ERC-20 currency that serves as an in-game asset in Axie Infinity, a popular blockchain-based gaming metaverse. In this game, users gather one-of-a-kind digital creatures called Axies, which are represented by non-fungible tokens (NFTs) and may be bred, sold, or used in battle against other players. The Axie Infinity game has a multi-token economy and employs another ERC-20 token called Axie Infinity Shards (AXS) as its ecosystem's governance token.

In-game, SLP crypto coins are utilized to support Axie breeding. It can not only be won in the Axie Infinity metaverse, but it can also be exchanged on supported cryptocurrency exchanges – a significant provision that provides this in-game money with broader market access. When a liquidity pool for ETH-SLP was formed on the decentralized exchange (DEX) Uniswap, SLP was able to exit the Axie gaming metaverse and enter the crypto market. SLP has proved the importance of in-game assets both within the metaverse and outside as Axie Infinity has evolved into one of the most successful blockchain-based games.

History

Trung Nguyen, the CEO of Axie Infinity, the business behind the game, resigned his job as a software engineer in the United States to focus on the project. Nguyen was inspired to investigate blockchain's possibilities in gaming because he was irritated by how many gamers do not genuinely own valuable goods in popular titles. He told Blockchain Gamer that the Ethereum network has provided him with the ultimate opportunity to develop his "dream game." He claims that the breeding process, which employs SLP, is intended to be familiar to players of other collecting games such as CryptoKitties.

How does it work

SLP may be obtained by completing daily tasks or participating in game fights or adventures. After collecting a specific number of SLP coins, players can begin breeding their own Axies. The cost of breeding an Axie varies due to the breed counts of the pre-existing Axies (the parents). Axies can only reproduce once every seven years. More SLP is necessary as the number of breeds increases.

SLP is an altcoin with a burning process. The SLP tokens spent in each Axie breeding will be burnt forever. Because users may only farm a limited number of SLP every day in the game, token demand is projected to rise as players strive to stay ahead of the breeding game. SLP is more than simply a gaming money for breeding new digital creatures in the Axie Infinity metaverse. It also serves as a reward symbol for players who gain new levels or win battles with their Axies. Holders, on the other hand, can speculate on the SLP price and trade it on crypto exchanges like as Binance. SLP can also be found in the Uniswap liquidity pools. SLP is now a part of the play-to-earn movement, which allows gamers to make money by playing Axie Infinity.

Although there are various methods to gain SLP tokens on the Axie Infinity platform, it might be challenging for users to gather enough SLP to successfully breed their Axies. As a result, a secondary market for SLP token trades on Uniswap evolved from the desire to swiftly amass the token without having to devote as much time or effort to gain it through traditional in-game ways. While playing Axie Infinity earns players SLP, they may also acquire more SLP from other players through SLP token exchanges to speed their in-game advancement.

Total supply and circulation

Total supply is the same as circulating supply, which is 43,31 billion SLP coins. Maximum supply is not known at the moment.