What is Smooth Love Potion (SLP)? How does it work?
In the fast-paced world of cryptocurrencies and blockchain technology, new opportunities have emerged for businesses to create gaming universes on the blockchain.
Many of these platforms enable players to earn rewards by playing the games. One such game that has gained immense popularity since 2018 is Axie Infinity.
Axie Infinity features an ERC-20 token called Smooth Love Potion (SLP) that can be traded on various cryptocurrency markets.
Source: Kanalcoin
In the game, players use SLP to breed new Axies, which can then be sold as Non-Fungible Tokens (NFTs) on the Axie Infinity marketplace.
This article will provide a comprehensive overview of SLP, its role in Axie Infinity, and how to acquire and utilize the token.
What is Axie Infinity?
Axie Infinity is a play-to-earn gaming platform where players compete using unique game characters called Axies, which are similar to Pokémon.
Each Axie has its unique class, body parts, and stats, and they exist as non-fungible tokens (NFTs) that can be stored in either an Ethereum wallet or a Ronin Wallet.
The Axie Infinity universe is based on the Ethereum blockchain.
To start playing, players need to assemble a team of Axies. These Axies can be purchased from the marketplace, borrowed from other players through a scholarship program, or bred using Smooth Love Potion tokens (SLP).
By playing Axie Infinity, players can earn SLP tokens and the top-ranked players are rewarded with AXS tokens.
AXS token holders can participate in governing the Axie Infinity ecosystem.
Smooth Love Potion (SLP) Explained
Smooth Love Potion (SLP), formerly known as “Small Love Potion,” is the native cryptocurrency of the Axie Infinity game.
As an ERC-20 gaming token, SLP has an unlimited supply.
As of November 2021, SLP had a market capitalization of about $197 million USD, with a circulating supply of over 3 billion.
Players can accumulate SLP coins by participating in daily quests, battles, or adventures.
After collecting a certain amount of SLP, players can breed their unique Axies. The cost of breeding varies depending on the breed count of the parent Axies.
Each Axie can only breed up to seven times, and as the breed count increases, more SLP is required.
SLP tokens are permanently destroyed during the Axie breeding process, which means there is a limited amount of SLP available to be earned daily.
This limited supply can potentially increase the demand for the token.
In the Axie Infinity metaverse, SLP serves as both the currency for breeding new digital creatures and as a reward for players who achieve milestones or win battles with their Axies.
SLP can also be traded on crypto exchanges like Binance and Uniswap liquidity pools, making it part of the play-to-earn movement that allows players to generate income by playing Axie Infinity.
How to Acquire SLP in Axie Infinity
There are several ways to earn SLP in Axie Infinity, such as completing daily missions, competing against other players in Arena battles (PvP), and fighting computer-controlled opponents in Adventure mode (PvE).
1. Complete daily tasks
For example, as of November 2021, players who complete the daily check-in, finish 10 adventure mode levels, and win five arena matches will receive an additional 25 SLP.
Source: Reddit
2. Participate in PvP Arena battles
In the game, the PvP Arena is the primary way to obtain SLP rewards.
The Arena matches players against each other based on their MMR (Matchmaking Rating).
Source: leveldash
Each match costs one energy, and each victory awards a certain amount of SLP, which is relative to the player’s MMR.
The higher your MMR, the larger the SLP reward.
However, it is important to note that an MMR of 800 or more is required to receive SLP rewards.
Players who have depleted their energy can still participate in PvP to increase their MMR, but they will not receive SLP rewards.
The amount of energy a player has can be seen at the top left of the screen from the main menu. The available energy is determined by the number of Axies a player owns:
- 3 to 9 Axies grant 20 energy.
- 10 to 19 Axies provide 40 energy.
- 20 or more Axies give 60 energy.
3. Engage in Adventure Mode (PvE)
Adventure Mode is a single-player option where players battle against computer-controlled adversaries.
In this mode, players can progress through 36 increasingly challenging levels and earn up to 50 SLP daily.
Source: coingecko
Starting an adventure does not require energy, but using energy is necessary if you want to gain experience points for your Axies.
It’s important to note that farming SLP through PvE may be less time-consuming and demanding than PvP, but you can only earn a one-time SLP reward for each level.
Replaying the same level to complete your daily quest SLP will not yield additional rewards.
To earn more SLP, players can defeat bosses in specific levels for one-time SLP rewards.
Transferring SLP from Axie Infinity to the Ronin Wallet
Source: Binance
Every two weeks, players can manually redeem the SLP they have earned from the game. To do this, follow these steps:
- Log in to your Axie Infinity account and connect your Ronin Wallet.
- Go to the menu and click [Claim Tokens] to see how much SLP you can claim and when you can do so.
- Click [Claim SLP] to transfer the SLP to your Ronin Wallet.
To sell your SLP, you can transfer it to MetaMask or another Ethereum wallet using the Ronin Bridge.
The Katana decentralized exchange enables you to trade SLP for other digital assets.
Currently, the swap option is available for AXS, WETH, USDC, and SLP.
Conclusion
In recent years, Axie Infinity has become a popular DeFi project.
This play-to-earn blockchain game provides players with an enjoyable and accessible way to earn additional income.
SLP rewards have been particularly beneficial for people in countries like the Philippines, where the economic downturn caused by the pandemic has left many seeking alternative sources of income.
By understanding the role of SLP in Axie Infinity and learning how to acquire and use this token, players can unlock new opportunities within the crypto gaming world.
As the play-to-earn movement continues to grow, the Axie Infinity ecosystem and the use of SLP are likely to expand, offering even more possibilities for players and investors alike.
