In the middle of the booming non-fungible tokens, blockchain technology has managed to open up a completely new world of opportunities. Several companies are building their individual gaming metaverses on this particular blockchain, and so these companies also allow users to make money while playing.
One of them happens to be Axie Infinity, which has been experiencing growth in terms of popularity over the last few years.
The rewards of Axie Infinity include its very own ERC-20 token called SLP crypto or Smooth Love Potion. As a crypto, users can purchase as well as SLP tokens on cryptocurrency markets. Within this game, SLP can also be used to breed new Axies. These can also be traded on the Axie Infinity marketplace as non-fungible tokens.
Sounds interesting…right? Stay tuned for more information.
So, What Are SLPs?
As mentioned before, SLP crypto, or Smooth Love Potion, is actually the native crypto of the popular Axie Infinity game. Formerly known as Small Love Potion, SLP cryptos are ERC-20 gaming tokens accompanied by an unlimited supply.
Since November 2021, the market cap of SLP reached 197 million dollars, with a constantly circulating supply of more than 3 billion.
How Do SLPs Work?
You can earn SLPs through the completion of daily quests and by participating in adventures or battles in the game. Once gamers have managed to attain a specific amount of SLP tokens, they can begin to breed their unique Axies. The price for breeding each Axie also differs since it relies on the total breed counts of all the pre-existing Axies.
These can breed a total of seven each. Once the total breed count begins to get higher, more amount of SLPs are required.
SLP happens to be a type of altcoin that comes with a burning mechanism. After every Axie breeding, the tokens used in the process will be burned indefinitely. Since players can farm only a limited amount of SLPs every day, the demand for the token is predicted to rise. This is because it is expected that players will try to increase their opportunities in the game.
The price of SLP varies depending on the forces of demand and supply. In July 2021, it even reached an all-time high comprising of 0.41 dollars.
Within the whole Axie Infinity metaverse, SLP is relatively more than just a normal game currency to breed relatively new digital pets. It also happens to be a reward coin for players when they are able to reach newer levels or even win fights with the help of Axies.
Contrastingly, holders can also speculate on the price of SLPs and then trade it on cryptocurrency exchanges such as Binance. SLPs are available as well on Uniswap liquidity pools. Currently, SLP is part of the play-to-earn movt that allows players to earn some amount of income by playing on the Axie metaverse.
What Is Axie Infinity?
Axie Infinity is basically a play-to-earn NFT game. In this game, players simply battle with each other with the help of unique gaming characters known as Axies. You can also think of the same as a Pokémon. Each has different stats, body parts, and classes. These are NFTs (non-fungible tokens) that can be easily stored in a Ronin wallet or an Ethereum wallet.
The ecosystem for Axie Infinity is developed on the Ethereum blockchain. For playing games, you will have to assemble a whole bunch of Axies. Users can buy Axies on the market or simply borrow from other users within a scholarship program.
With the help of SLP tokens, you can breed new Axies. By playing the Axie Infinity game, you can also earn SLP tokens, with the best players receiving AXS tokens as rewards. Additionally, AXS holders can also participate in the basic governance of the whole Axie Infinity ecosystem.
How To Earn SLP On Axie Infinity?
You can earn SLP cryptos by finishing daily quests, battling monsters in the game’s adventure mode, and competing with other users in different Arena matches. Here’s an overview!
1. Complete Daily Quests:
Since November 2021, daily quests have given an additional 25 SLPs to users who do the daily check-ins, finish ten adventure mode levels, and ultimately win five arena matches.
2. Battle In Arena (PvP):
Arena (PvP) is the primary source of SLP-related rewards in the whole game. This arena matches different players against each other depending on their specific rankings. Every particular arena match uses one energy, with every win providing an SLP reward as per the player’s MMR.
The higher your ranking, the more SLPs you will receive every win. Make a note that you will require an MMR right above 800 to obtain SLP rewards. In case the energy gets depleted, users can continue to play PvP for raising their MMR, but they will not obtain any SLP rewards.
You can easily check how much energy you will obtain from the primary menu located on the screen’s top left. The total amount of energy you possess will depend on the total number of Axies that you hold:
- 20 or more Axies: 60 energies.
- Between 10 to 19 Axies: 40 energies.
- From 3 to 9 Axies: 20 energies.
3. Battle in the Adventure Mode (PvE):
Adventure is primarily a single-player mode in this game. It includes 36 levels with rising difficulty as well as SLP rewards. In fact, you can earn up to fifty SLPs every day from adventures. It does not need energy to begin in adventure mode. You will only require these if you feel like gaining experience points for your Axies.
As compared to PvP, PvE needs relatively less time as well as effort to develop SLPs. But you can receive SLP rewards only once for every adventure level. You can keep playing the same levels to complete the SLP reward requirement for daily quests. However, you will not obtain any additional SLP rewards.
In order to get more SLP cryptos, you can also consider defeating the different bosses in specific levels for basic one-time SLP rewards.
And It’s A Wrap!
Axie Infinity happens to be one of the most well-known DeFi projects at the moment. SLP cryptos are gaming tokens within a play-to-earn blockchain game that provide an interactive and simple way to earn additional income.
In fact, SLP rewards have allowed multiple communities located in various countries, such as the Philippines, to boost their fiat income during the economic crisis arising from COVID-19. So, tell us, what are your thoughts on SLP cryptos? Feel free to share your thoughts, opinions, and experiences (if any) about SLP cryptos in the comments below.