On July 18, 2024, Smooth Love Potion (SLP), the ingame currency of the popular blockchain game Axie Infinity, experienced a notable breakout. At precisely 07:34 AM UTC, SLP's price surged by 7.51%, reaching a new level of $0.0036. This event marks a significant moment for the token, which plays a crucial role in the Axie Infinity ecosystem. The driving forces behind this price movement are multifaceted, reflecting both strategic initiatives and broader market dynamics. Smooth Love Potion (SLP), the ingame currency of Axie Infinity, experienced a notable breakout on July 18, 2024, achieving a 7.51% gain and reaching a price of $0.003604173131094404. This surge can be attributed to several key factors that have significantly influenced the token's market dynamics and overall appeal within the gaming and cryptocurrency communities. Let's delve into the reasons behind this breakout and explore the broader implications for SLP and Axie Infinity's ecosystem.
SLP's role within Axie Infinity is multifaceted, serving as the primary resource for breeding Axies, the digital pets that players collect, battle, and trade. This intrinsic utility creates a steady demand for SLP, particularly as players engage in breeding activities to produce stronger or rarer Axies. Additionally, SLP can be earned through various ingame activities, including battles, quests, and events, which incentivizes player engagement and fosters a vibrant ingame economy.
The recent price pump is closely linked to the announcement of the June SLP burning and buyback initiative aimed at regulating a 2% deflation rate. This strategic move is designed to enhance token stability and address concerns about hyperinflation within the Axie Infinity ecosystem. By reducing the overall supply of SLP, the burning mechanism helps to maintain a balanced market and supports the longterm sustainability of the token.
June SLP burning and buyback for 2% deflation: The price pump is linked to the announcement of June SLP burning and buyback to regulate a 2% deflation rate, enhancing token stability.
In addition to the burning and buyback initiative, several other factors have contributed to the increased demand for SLP. One notable development is the launch of Axie Infinity's Premier Bounty Board, which introduced over 100 new bounties and enhanced rewards for players. This feature has attracted a significant number of participants, driving higher interaction with the Axie Infinity ecosystem and increasing the demand for SLP as players seek to secure ingame assets and rewards.
Major platform integration increasing usability and market reach: The introduction of the Premier Bounty Board with exclusive rewards and social contests has called in many participants, causing high interaction with the ecosystem and boosting SLP demand.
Moreover, the launch of Origins Season 9 and SLP rewards to limitedtime Gauntlet Mode has further contributed to the token's deflationary dynamics. These seasonal events typically lead to significant SLP burning due to the crafting of Runes and Charms, as well as the requirement for players to purchase tickets with SLP to access Gauntlet Mode. This combination of burning mechanisms and increased player activity has effectively reduced the circulating supply of SLP, supporting its price appreciation.
The broader market access for SLP, facilitated by its listing on major cryptocurrency exchanges, has also played a crucial role in its recent breakout. By being available on platforms such as Binance, Katana, Bybit, OKX, Kucoin, Gate, MEXC, and Bitget, SLP has transitioned from an ingame asset to a tradable cryptocurrency, attracting a wider audience of investors and traders. This increased liquidity and market exposure have contributed to the token's upward momentum.
In conclusion, the recent breakout of Smooth Love Potion (SLP) is the result of a confluence of strategic initiatives and market dynamics within the Axie Infinity ecosystem. The June SLP burning and buyback for 2% deflation, the introduction of the Premier Bounty Board, and the launch of Origins Season 9 and Gauntlet Mode have all played pivotal roles in driving demand and reducing supply, leading to the token's price surge. As Axie Infinity continues to innovate and expand its offerings, the future of SLP looks promising, with the potential for further growth and adoption in the evolving playtoearn gaming landscape. The recent breakout of Smooth Love Potion (SLP) underscores the importance of strategic initiatives such as token burning and buybacks in maintaining token stability. As the Axie Infinity ecosystem continues to evolve, players and investors must stay informed and conduct thorough research (DYOR) to navigate the complexities of the cryptocurrency market effectively.
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Spot the Main Event:
Thwy have launched Origins Season 9 and SLP rewards to limited-time Gauntlet Mode. Seasons typically lead to significant SLP burning due to the crafting of Runes and Charms. Similarly, Gauntlet Mode contributes to SLP burning as it requires players to purchase tickets with SLP for access. Let's look at how these updates made impact on the stats from June.
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Explore the Core.
Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies. The cost of breeding begins at 100 SLP but increases gradually — rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace.
Ajayi Johnweb developer
Explore the Core.
Here's a breakdown of SLP's essence, its role in Axie Infinity, and the innovative use cases it introduces: Within Axie Infinity: Breeding Mechanism: SLP is the primary resource required for breeding Axies, the digital pets users collect and battle in Axie Infinity. This creates a demand for SLP to maintain a healthy in-game economy. Reward System: Players can earn SLP through various gameplay activities like battling, completing quests, and participating in events. This incentivizes players to engage with the game and potentially generate income. Innovative Use Cases: Play-to-Earn Model: SLP allows players to potentially earn income by playing Axie Infinity and accumulating SLP tokens. These tokens can be sold on cryptocurrency exchanges, enabling a play-to-earn model. In-game Utility: SLP serves a purpose within the Axie Infinity ecosystem, not just as a tradable token. It's a necessary resource for breeding, adding another layer of strategic decision-making for players. Community and Marketplace: SLP facilitates trades within the Axie Infinity community. Players can use SLP to purchase Axies or other in-game items on the Axie marketplace. Here's an example of how SLP functions within Axie Infinity (Speculative): Imagine playing Axie Infinity and earning SLP through battles. You can then: Breed Axies: Use SLP to breed new Axies, potentially creating stronger or rarer ones to sell on the marketplace for profit (in cryptocurrency). Sell SLP: Exchange your SLP tokens for cryptocurrency on external markets, potentially generating income. This exemplifies how SLP: Incentivizes Gameplay: Rewards players for engaging with the game. Fuels the Economy: Creates demand for SLP through breeding and marketplace activity. Offers Play-to-Earn Potential: Allows players to convert SLP into tradable value.
Spot the Main Event:
June SLP Stability Fund Update ⚔️ In June, we launched Origins Season 9 and SLP rewards to limited-time Gauntlet Mode. Seasons typically lead to significant SLP burning due to the crafting of Runes and Charms. Similarly, Gauntlet Mode contributes to SLP burning as it requires players to purchase tickets with SLP for access. Let's look at how these updates made impact on the stats from June. Final Stats for June 📊 Net SLP Burnt: 32,331,084 SLP On-Chain: 41.36 billion Annualized Deflation: 0.88% Actions Taken ⚒️ No new actions per latest policy. Stability Fund Holdings: SLP: 9,773,028 USDC: 55,000 Our efforts to balance SLP emissions in Origins is bearing fruit. We're still on our way towards a 2% deflation target for SLP. Learn more about the SLP Stability Fund 👇🏼 🔗: blog.axieinfinity.com/p/slpcap
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OLUWATOSIN GARUBAExplore the Core.
Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies. The cost of breeding begins at 100 SLP but increases gradually — rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace.
Spot the Main Event:
The project launched Origins Season 9 and SLP rewards to limited-time Gauntlet Mode. Seasons typically lead to significant SLP burning due to the crafting of Runes and Charms. Similarly, Gauntlet Mode contributes to SLP burning as it requires players to purchase tickets with SLP for access. Let's look at how these updates made impact on the stats from June.
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Abdullahi Saleh SaiduCute, funny and a little bit crazy!!!
Explore the Core.
Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies. The cost of breeding begins at 100 SLP but increases gradually — rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace. 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. Purchasing SLP on the open market is a way for gamers to get a headstart.
Spot the Main Event:
Axie Infinity Premier Bounty Board is live. The Bounty Board has leveled-up! Moar bounties, moar rewards! Lunacia’s Premier Bounty Board is LIVE. It features over 100 new bounties and a separate reward pool. The original — or Standard — Bounty Board remains unchanged. New rewards include a fresh 12.5K AXS prize pool, with an exclusive 1K AXS Master Pool, and social contests to celebrate the launch. That means 25K AXS is up for grabs between the Standard and Premier Bounties every week. The team introduced the Premier Bounty Board to double down on the original, now Standard, Bounty Board’s success. The Standard Bounty Board will continue to reward players with casual bounties, while the Premier Bounty Board will encourage Lunacians to engage with axies on a deeper level as collectors.
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Ola Victoria📸 Show Us What You Found:
Explore the Core.
Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies. The cost of breeding begins at 100 SLP but increases gradually — rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace.
Spot the Main Event:
After an incredible turnout at Winterblue Village, they're gearing up for their second Avatar Mode meetup in the mystical Hazymoon Village. The energy from their first gathering was electric, and they can't wait to see you again today. Remember, joining is as easy as owning an Axie. That's right — if you've got an Axie, you've got access to Avatar Mode and this event. No land required. Also In June, they launched Origins Season 9 and SLP rewards to limited-time Gauntlet Mode. Seasons typically lead to significant SLP burning due to the crafting of Runes and Charms. Similarly, Gauntlet Mode contributes to SLP burning as it requires players to purchase tickets with SLP for access. Let's look at how these updates made impact on the stats from June.
GLORIA OLUWAFERANMITo God be the Glory
Explore the Core.
Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies. The cost of breeding begins at 100 SLP but increases gradually — rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace.
Spot the Main Event:
Team launched Origins Season 9 and SLP rewards to limited-time Gauntlet Mode. Seasons typically lead to significant SLP burning due to the crafting of Runes and Charms. Similarly, Gauntlet Mode contributes to SLP burning as it requires players to purchase tickets with SLP for access. Let's look at how these updates made impact on the stats from June.
📸 Show Us What You Found:
Adekanmi OwojoriFreelancer , Copy Writer and Crypto lover
Explore the Core.
Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies. The cost of breeding begins at 100 SLP but increases gradually — rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace. 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. Purchasing SLP on the open market is a way for gamers to get a headstart.
Spot the Main Event:
The price pump is tracked to their announcement and updates on June SLP burning and buyback to regulate 2% of deflation. This action is tagged stability funds holding.
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Esther WonderOwojori
Explore the Core.
Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This digital asset serves a replacement for experience points. SLP are ERC-20 tokens, and they can be used to breed new digital pets that are known as Axies. The cost of breeding begins at 100 SLP but increases gradually — rising to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth and 1,300 for the sixth. Axies can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace. 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. Purchasing SLP on the open market is a way for gamers to get a headstart.
📸 Show Us What You Found:
Spot the Main Event:
The price pump is caused to their announcement and updates on June SLP burning and buyback to regulate 2% of deflation. This action is tagged stability funds holding.
Praise OlagbadunProfessional Author and Crypto Trader
Explore the Core.
Smooth Love Potion (SLP) is the Native Token for one of the earliest Web3 Games known as Axie Infinity. It acts as the governance token for the entire Ecosystem and can be used for transactions like buying and selling of NFTs, reward for Gamers, and fees for the Ecosystem. The Token is earned by playing the game (Axie Infinity) and can be used for breeding the Digital pets, known as axies. They've also been able to set up a system which prevents hyperinflation in the marketplace.
Spot the Main Event:
The main reason for the current increase in the price of the Token is the announcement of their Premier Bounty Board. This is because with a huge prize pool, many Gamers would be attracted to play the game. And playing the game requires the use of $SLP, hence increasing Its Market value out there
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Abdulazeez MuhammadExplore the Core.
Smooth Love Potion (SLP) is an ERC-20 token that serves as an in-game asset in the blockchain-based game Axie Infinity. In Axie Infinity, players collect and breed unique digital creatures called Axies, which are represented as non-fungible tokens (NFTs). SLP is used to facilitate the breeding of Axies in the game. Players can earn SLP by completing daily tasks or participating in battles and adventures within Axie Infinity. The cost of breeding Axies increases with each subsequent breed, starting at 100 SLP and going up to 2,100 SLP for the seventh breed. This burning mechanism helps control the supply of SLP and prevent hyperinflation. SLP has also gained broader market access by being listed on cryptocurrency exchanges, allowing it to be traded outside of the Axie Infinity ecosystem. The introduction of an ETH-SLP liquidity pool on Uniswap was a key milestone that enabled SLP to transition from an in-game asset to a tradable cryptocurrency.
Spot the Main Event:
Yesterday,17th of July,2024. Axie Infinity Premier Bounty Board Introduced Premier Bounty Board: Over 100 new bounties Exclusive rewards & social contests. This called in for many participants and caused high interaction with their ecosystem. Hereby purchasing the token to secure in-game assets. This caused the spike of the token.
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Overview
Smooth Love Potion (SLP) is the ingame digital currency of the Axie Infinity gaming metaverse. It serves as a replacement for experience points and is primarily used for breeding digital pets known as Axies. SLP's unique value proposition lies in its integration into the playtoearn model, allowing players to earn realworld income through gameplay. This sets SLP apart in the crowded cryptocurrency market by combining gaming with decentralized finance (DeFi).
Key Features
Breeding Mechanism: SLP is essential for breeding Axies, with costs starting at 100 SLP and increasing with each subsequent breed to prevent hyperinflation. Reward System: Players earn SLP through battles, quests, and events, incentivizing engagement and gameplay. PlaytoEarn Model: SLP can be sold on cryptocurrency exchanges, enabling players to earn income. InGame Utility: Beyond being a tradable token, SLP is crucial for ingame activities, adding strategic depth. Community and Marketplace: Facilitates trades within the Axie Infinity community, enhancing the ingame economy.
Recent Developments
Premier Bounty Board Launch: Over 100 new bounties added, with enhanced rewards for players. Origins Season 9: Introduced SLP rewards to limitedtime Gauntlet Mode, contributing to significant SLP burning. Avatar Mode Open Beta: Successful community meetups in Winterblue and Hazymoon Villages. Exchange Listings: SLP is now listed on major exchanges like Binance, KuCoin, and OKX.
Market Impact
Increased Demand: The introduction of new features and rewards systems is likely to drive up demand for SLP. User Adoption: The playtoearn model and recent developments could attract more players, boosting user adoption. Market Presence: Listings on major exchanges enhance SLP's visibility and accessibility, potentially increasing its market value.
Risks and Opportunities
Challenges: Potential risks include security breaches, technical issues, and market volatility. Opportunities: The innovative playtoearn model and continuous updates present significant growth opportunities. Expansion of scholarship programs and integration with other platforms could further boost demand.
Community Engagement
Active Community: High engagement levels on platforms like Discord and Twitter, with discussions centered around new features and strategies. No Telegram Presence: Lack of a Telegram community might limit engagement on that platform.
Conclusion
SLP's integration into the Axie Infinity ecosystem and its playtoearn model make it a compelling choice for traders. The project's recent developments and active community support indicate strong growth potential. However, traders should consider the inherent risks and market volatility. Overall, SLP's innovative approach and market position present a promising investment opportunity.
This is not a financial advice. Please do your own research and consider the risks of trading cryptocurrencies.