Each Axie can be bred only seven times, introducing a strategic cap. Increased breeding numbers cost more SLP, raising token demand. This feature relates directly to Axie’s in-game economic framework. SLP’s usefulness makes it a cornerstone of the Axie Infinity gaming experience. Smooth Love Potion (SLP) tokens can be earned as rewards by Axie Infinity players through battle or adventure mode.
AXS tracks overall trends within GameFi investment and sentiment. SLP is more suitable for active trading and short-term applications. Understanding how each does helps to make better investment choices. SLP Coin is utilized for breeding purposes, with AXS dealing with governance rights. AXS holders vote on slp coin forum significant decisions and game improvement proposals. SLP is spent regularly, whereas AXS is regularly held or staked.
Its success confirms that virtual economies can sustain real livelihoods. SLP Coin could be the template for subsequent play-to-earn crypto schemes. Rapid minting and unlimited supply build inflation pressure. As players receive more SLP than is being burned, value drops. Sky Mavis is attempting to correct this through gameplay caps.
SLP are tokens that can be used to breed new digital pets, known as Axies. It was formally known as Small Love Potion before the token upgrade to the Ronin blockchain. SLP is also unique because of how it has become one of the few in-game tokens to be listed by Binance in its Innovation Zone. The exchange has reserved this trading category for assets “that are likely to have higher volatility and pose a higher risk than other tokens.” 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.
Defined rules will make it easier and safer to scale worldwide. Transparency is the key to adoption in traditional markets. The price of SLP Coin varies with supply, demand, and updates. More player activity increases minting and tends to decrease price. Outside influences such as crypto market trends also influence price. SLP is still a reactive token, bound very much to the mechanics of the game.
Smooth Love Potion Quarterly Returns
This limit is put in place to prevent market hyperinflation. Smooth Love Potion (SLP) is an ERC-20 utility token used as in-game currency for the blockchain-powered game Axie Infinity. Before the token was upgraded to the Ronin blockchain, it was known as “Small Love Potion.” Get early access to new tokens—trade them before they’re officially listed. Yes, indeed you can exchange SLP Coin for cash by selling it on platforms such as Binance, KuCoin, or Bybit. Once you sell your SLP to USDT or another stablecoin, you can withdraw the money to your bank account through P2P trading or supported withdrawal channels.
- At the time, Axie breeding demand sent SLP soaring rapidly.
- Transparency is the key to adoption in traditional markets.
- SLP tokens can be considered inflationary, with token supply growth determined by in-game activity at any given time.
- SLP Coin is utilized for breeding purposes, with AXS dealing with governance rights.
- For added protection, hardware wallets such as Ledger are extremely recommended.
Smooth Love Potion Exchanges »
Open an account and earn up to 12% APR on BTC, ETH and more! Ledger is the smartest way to secure, buy, exchange and grow your crypto assets. Want to convert the Smooth Love Potion price today to your desired fiat currency? All of this means that you may have a little difficulty purchasing SLP directly with fiat. As a result, you may need to convert your dollars, pounds or euros into a mainstream cryptocurrency such as Ethereum first. Numerous trading pairs are offered, including SLP/ETH, SLP/USDT and SLP/BUSD.
SLP Coin Price History and Trends
This limit exists in order to prevent hyperinflation in the marketplace. Should the digital asset you are seeking not be currently available on Bybit, please be advised that it will be introduced in the near future. Bybit disclaims all liability for any results or outcomes of such investments. The information regarding pricing and other relevant data presented herein is derived from publicly available sources. Instead, Axie Infinity’s mechanisms determine how tokens are distributed.
- Long-term development relies on utility growth outside of breeding.
- Rather, tokens were distributed to game players as rewards for achieving certain targets/milestones.
- However there is substantial interest in the Philippines for the SLP to PHP price and also in Australia for the SLP to AUD and Europe for the SLP to EUR prices.
- AXS tracks overall trends within GameFi investment and sentiment.
Smooth Love Potion Price Chart US Dollar (SLP/USD)
SLP tokens are used for breeding new digital NFT pets known as Axies. SLP Coin is not merely a game reward—it is part of an emerging economy. It erases the distinction between gaming enjoyment and economic value creation. Although problems such as inflation are present, developer responsiveness holds some hope. The token has already transformed lives in areas where income counts.
Long-term development relies on utility growth outside of breeding. You can purchase SLP Coin on Binance, KuCoin, and decentralized exchanges. First, sign up and load fiat or supported cryptocurrencies. Then, exchange against USDT, ETH, or BUSD pairs for instant access. Verify exchange fees and limits prior to finalizing your transaction. Volume and liquidity are greatest on centralized exchanges currently.
Purchasing SLP on the open market is a way for gamers to get a headstart. Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves a replacement for experience points. Place a market order to sell instantly, or set a limit order at your targeted selling price.
How much is Smooth Love Potion today?
Decreases in active users or SLP rewards tend to have prices decrease, whereas game expansions and higher utility tend to boost demand. SLP might be utilized in new platforms, games, or virtual economies. Sky Mavis is investigating integration beyond Axie Infinity. Additional use cases will solidify demand and inhibit volatility.
Always have 2FA enabled and configure withdrawal address whitelists for security. As of Nov 20, Smooth Love Potion has a market capitalization of $35.6 Million and is ranked #506 among all cryptocurrencies. This calculation is based on the circulating supply of Smooth Love Potion. Showing market cap and how it’s compared to different cryptocurrencies. The best instant cryptocurrency exchange platform with the best exchange rates for BTC, ETH, LTC, XRP, ADA and 140+ other cryptocurrencies.
Other wallets such as MetaMask or Trust Wallet also hold SLP securely. For added protection, hardware wallets such as Ledger are extremely recommended. Do not leave huge sums of SLP Coin on exchanges for extended periods. Cold storage keeps funds secure from cyber risks and hacks. AXS has a capped supply, whereas SLP doesn’t, which makes AXS less volatile. SLP responds more quickly to player behavior and ecosystem fluctuations.