What is SLP ? Is SLP a Cryptocurrency

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SLP may also be traded on cryptocurrency exchanges. Within the Axie Infinity ecosystem, users may utilise SLP to breed digital creatures known as Axies, which can then be sold to other players on the marketplace as NFTs. SLP is abbreviated as Smooth Love Potion. Smooth Love Potion (SLP) is a gaming token in the popular NFT game Axie Infinity that uses the ERC-20 protocol. It is available in an infinite supply and is the principal source of money for Axie Infinity players.

Players may acquire SLP by completing daily missions, fighting other players in the Arena (PvP), or fighting in the Adventure mode (PvE). Players may only acquire a certain number of SLP every day, and any SLP spent for breeding will be lost once a new Axie is produced. SLP can also be traded on exchanges for cryptocurrency.

Introduction

            In the middle of the NFT boom, blockchain technology has unlocked a whole new universe of possibilities. More firms are developing blockchain-based gaming metaverses, and many of them allow users to earn money while playing. Axie Infinity is one of them, and it has been gaining popularity since 2018.

Smooth Love Potion, an ERC 20 token is the prize for Axie Infinity (SLP). SLP tokens may be purchased and sold on cryptocurrency exchanges like a coin. SLP may be used to breed young Axies, which can then be exchanged as NFTs on the Axie Infinity marketplace.

What Exactly is Axie Infinity?

Axie Infinity is a play-to-earn NFT game in which users compete against one another using unique gaming characters known as Axies. Consider an Axie to be a Pokémon. Each character has a unique class, physical parts, and stats. The non-fungible tokens (NFTs) that may be held in a Ronin Wallet or an Ethereum wallet.

The Ethereum blockchain serves as the foundation for the Axie Infinity ecosystem. To play the game, you must construct an Axie squad. Axies can be purchased on the market or borrowed from other players through a scholarship scheme. Smooth Love Potion tokens may also be used to breed more Axies (SLP). SLP tokens may be acquired by playing Axie Infinity, and top-ranked players receive AXS tokens as well. Furthermore, AXS holders have the opportunity to participate in the governance of the Axie Infinity ecosystem.

Smooth Love Potion (SLP): What is it and How Does it Work?

Smooth Love Potion (SLP), as previously stated, is the game’s native cryptocurrency. SLP, formerly known as “Small Love Potion”, is an ERC-20 gaming token that has an infinite supply. SLP’s market cap hit $197 million USD in November 2021, with a circulating supply of over 3 billion.

SLP may be obtained by completing daily tasks or participating in game fights or adventures. After collecting a specific number of SLP coins, players may begin breeding their own Axies. The cost of breeding an Axie varies since it is determined by 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 a cryptocurrency 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. The price of SLP changes due to supply and demand dynamics. In July 2021, it achieved an all-time high of $0.41.

SLP is more than simply a gaming money for breeding new digital creatures in the Axie Infinity metaverse. It is also a prize symbol for gamers who achieve 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. 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 while playing Axie Infinity.

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How can You Get SLP on Axie Infinity?

SLP may be earned by completing daily objectives, engaging in Arena battles (PvP), or combating creatures in Adventure mode (PvE).

Finish Daily Missions

            As of November 2021, the daily mission awards an additional 25 SLP to players who complete the daily check-in, 10 adventure mode levels, and 5 arena matches.

Arena Battle (PvP)

 Arena (PvP) is the game’s primary source of SLP awards. Players are pitted against each other in the PvP Arena based on their standings (MMR). Every Arena match will use one energy, and every win will result in an SLP pay-out based on the player’s MMR. The more SLP you collect per win, the better you’re rating. It should be noted that in order to receive SLP prizes, your MMR must be more than 800.

If the energy is gone, players can still participate in PvP to increase their MMR, but they will not get SLP awards. The primary menu in the top left of the screen allows you to see how much energy you have left. The quantity of energy you have is determined on the number of Axies you possess:

  • 20 energies range from 3 to 9 axes.
  • 40 energies range from 10 to 19 axes.
  • More than 20 axes equal 60 energies.

Battle it out in Adventure Mode (PvE)

Adventure is the game’s single-player mode. It has 36 levels of increasing difficulty and SLP prizes. Adventures can earn you up to 50 SLP every day. It is not necessary to have energy to begin in adventure mode; you will only need them if you want to collect experience points for your Axies.

PvE needs less time and effort to farm SLP than PvP. However, for each adventure level, you can only get one-time SLP awards. You can replay the same level to meet the daily quest SLP reward criteria, but you will not get any further SLP awards. You may also earn additional SLP by defeating bosses in specific stages for one-time SLP awards.

How can you Transfer SLP From Axie Infinity to Ronin Wallet?

 After earning SLP in the game, you will be able to manually claim it every 14 days.

1. Sign in to your Axie Infinity account and add your Ronin Wallet. Click [Claim Tokens] from the menu to learn how much SLP you may claim and when you can do so. Then, click [Claim SLP] to add SLP to your Ronin Wallet.

2. Return to your Axie Infinity account dashboard and double-check that your Ronin Wallet is linked. Claim Tokens – Claim SLP by clicking the [Claim Tokens] – [Claim SLP] button. The claimed SLP will be shown in your Ronin Wallet.

3. To sell the SLP, use the Roning Bridge to transfer it to your MetaMask or another Ethereum wallet.

It’s worth noting that you may swap your SLP for other cryptocurrencies using the Katana decentralised exchange. The swap function currently supports AXS, WETH, USDC, and SLP.

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