What Is Smooth Love Potion (SLP) How It Works & Where To Buy It? (2024)

Smooth Love Potion (SLP)is one of the native tokens in the Axie Infinity ecosystem. The in-game currency is rewarded to users in the form of SLP rewards.

To earn SLP players need to complete daily quests such as battling in thearenaor fighting inadventure mode. Once a player has accumulated enough SLP tokens, they can startbreeding Axies.

TheSLPtoken is currently the553rd largest cryptocurrencyby market capitalization.

How Smooth Love Potion (SLP) Works

Axie Infinityis an incredibly popular play-to-earn game that recently captured the attention of millions of people. At its peak, Axie Infinity had more than2.7 million active daily users.

Smooth Love Potion, formerly known as “Small Love Potion”, is a native cryptocurrency of the Axie Infinity ecosystem and has an unlimited supply. Users canbreed Axiesfrom the SLP they earn in the Axie Infinity game.

The costs of breeding Axies differ for each Axie, and the number of breed counts needs to also be taken into consideration. The Axies can be bredno more than 7 times each. As the breed count increases, so does the SLP cost to breed them. SLP coins are always used to breed Axies.

Although SLP has an unlimited supply, there is aburning mechanismin place to regulate the supply. It works as follows: when Axies are bred, the SLP tokens used to breed Axies are burned – these SLP tokens are permanently removed from supply forever.

It’s also important to note that players are limited to the number of SLP tokens they can farm daily. This mechanism was designed to make Smooth Love Potion work efficiently, essentially increasing the demand for SLP tokens because Axie Infinity Gamers would want to participate more frequently in Axie breeding.

SLP tokens play an integral role in the Axie Infinity metaverse, and their value is speculated on various cryptocurrency exchanges. SLP joins a list of multiple in-game currencies that are frequently traded on multiple cryptocurrency exchanges.

The SLP price is determined by supply and demand, and users playing Axie Infinity can trade SLP tokens on any exchange where the tokens are listed.

For individuals looking to learn more about the innovative digital pets game and the unique value proponents that have been created by the Axie Infinity team – referring to theAxie Infinity whitepaperis the most informative resource.

What Is Smooth Love Potion (SLP) Used For?

SLP tokens’ main utility is that they are used for breeding Axies. Smooth Love Potion tokens can only be earned in the game. These are the following ways users can earn SLP tokens:

1. By Completing Daily Quests

Users are rewarded25 SLP tokenswhen they:

• Complete the daily check-in
• Complete 10 adventure mode levels
• Win 5 arena matches

  2. Player vs. Player: Arena Battle

This is the most common way for users to earn SLP tokens. Users participate in PvP Arena Matches; their competitors are chosen according to their rankings. Upon winning, players receive SLP rewards based on theirmatch-making ranking (MMR).

Players receive higher SLP rewards in accordance with their MMR. A player is required to have a minimum of 800 MMR to receive SLP rewards.

Every battle also requires 1 energy to play. Users can battle and improve their MMR but won’t receive any SLP rewards if their energy is depleted.

3. Adventure Mode Battles

This battling mode is unique because it is solely a single-player mode. There are a total of 36 levels, each increasing in difficulty and higher SLP rewards per level. The daily cap on SLP rewards is 50 SLP per player. Additionally, energy isn’t a requirement for participation in adventure mode but is necessary if players seek to gain experience for their Axies.

Adventure mode (PvE) is less time-intensive, and farming SLP is generally easier than in PvP. SLP rewards are once-off per level that the user completes.

Additionally, swing and arbitrage traders try to capitalize on price fluctuations. SLP tokens experience daily price fluctuations, and experienced traders can earn large percentages of profit, but swing and arbitrage trading are incredibly risky.

Where To Buy Smooth Love Potion (SLP) Token

SLPhas become a well-known cryptocurrency that is frequently traded. The popularity of the token is directly linked to the success of the Axie Infinity game.

SLP tokensare commonly traded on mostcentralized crypto exchanges.Before you’re able to purchase SLP, you’ll need to depositfiat moneyonto an exchange; sequentially, SLP tokens will then be credited to yourdigital wallet on the exchange.

The crypto exchanges below are amongst the safest place where you canbuy, sellandstore tokens.

1. OKX
2. HTX
3. KuCoin
4. Binance

Token holders can transfer their tokens to compatible wallets, but it should be noted that this isn’t investment advice.

About Smooth Love Potion (SLP)

How long has Smooth Love Potion (SLP) existed?

Axie Infinity is an innovative online play-to-earn game that was created by Sky Mavis – a well-known and excellent Vietnamese technology studio. The game quickly rose in popularity because of its unique earning model and fun gameplay.

Axie Infinity was initially launched in March 2018 and rapidly grew in user adoption in the following months.

What’s controversial about Smooth Love Potion (SLP)?

The crypto space is a notoriously controversial space that isn’t regulated in most countries. s Users should always exercise caution before investing and should learn as much about the blockchain fundamentals as possible.

There are several scam projects which aim to capitalize on poorly-educated individuals who don’t do sufficient research before they invest in a project. Individuals should never invest more than they’re willing to lose.

Let’s take a look atthe top two controversiessurrounding Smooth Love Potion (SLP):

• Largest Hack Ever: Ronin Bridge Hack –There have been several large hacks over the years where investors have lost millions of dollars. There is always a potential risk when investing in crypto, but exploits of bridges are becoming increasingly popular. The Ronin Bridge hack was the largest in crypto’s history.

  More than$650 million dollars(173,600 ETH) was stolen in the Ronin network exploit. The exploit sent shockwaves through the crypto market and left many investors sitting with enormous losses on their tokens. The hack resulted in the price of the AXS and SLP token plummeting within minutes of the news breaking.

  Many individuals considered the project to be untrustworthy after this, and Axie Infinity hasn’t fully recovered ever since. There’s been a major drop-off in the number of users playing the game, and the price of the game’s tokens is significantly lower than before.

• Unlimited Supply –One of the largest concerns for many individuals looking into the Axie Infinity project is the fact that SLP has an unlimited token supply. Many investors consider the supply of a particular project before investing – a fixed supply indicates a certain degree of scarcity which is important.

  However, the SLP token has an unlimited supply, and many individuals don’t consider it to be a worthwhile crypto token to invest in.

How many Smooth Love Potion (SLP) Tokens are there?

At the time of writing, Smooth Love Potion (SLP) has a circulating supply of5.38B SLP

Smooth Love Potion (SLP) has anunlimited supply.

Can Smooth Love Potion (SLP) be mined?

SLP tokens can’t be mined. SLP tokens can only be obtained as rewards for users playing the Axie Infinity game or if they purchase tokens directly from an exchange.

However, users can earn a yield on their SLP tokens by utilizing various DeFi products such as staking, farming, and liquidity provision. There are safe few decentralized exchanges like Uniswap where users can participate in these DeFi products.

Some centralized exchanges allow users to earn yields from staking their SLP tokens.

What is the market cap of Smooth Love Potion (SLP)?

Themarket cap of Smooth Love Potion (SLP)is:the total amount of coins in circulationxthe current market price of SLP.

Smooth Love Potion (SLP) Market Cap = 5.38B SLP x $0.004 = $22 million(553rd largest market cap)

SLP is currently one of the top 1000 cryptocurrencies by market capitalization.

Biggest Competitors Of Smooth Love Potion (SLP)

SLP is the native in-game currency of the Axie Infinity game; therefore, gaming cryptocurrencies can generally be considered its competitors.

Smooth Love Potion’s Biggest Competitors are:

• TLM
• MANA
• SAND
• ILV

What Are The Future Plans of Smooth Love Potion (SLP)?

The SLP will continue functioning as the in-game currency of the Axie Infinity game. The Axie Infinity team has also announced that it is actively working onreimbursing individuals that were affected by the Ronin Hack.

Pros And Cons Of Smooth Love Potion (SLP)

Pros:

• Axie Infinity Is Very Popular –The game had more than 2.7 million active daily users at its peak. The game is well-known around the world.
• Rewards Mechanism– The play-to-earn mechanism allows users to earn an income from playing Axie Infinity.

Cons:

• No Max Supply –There is no fixed supply for SLP. Many individuals consider this to be a major con because scarcity is an important part of tokenomics.
• Ronin Exploit –Axie Infinity’s Ronin Sidechain was hacked and $650 million was stolen – it was the single largest hack in the history of crypto. The hack had a majorly negative effect on the project’s native tokens, SLP and AXS. Many individuals lost faith in the project following the exploit.