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What Is Smooth Love Potion (SLP)?
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.
Who Are the Founders of Smooth Love Potion?
A better question is this: who founded Axie Infinity? The CEO of the company behind the game is Trung Nguyen, who actually left his role as a software developer in the U.S. in order to focus on the project.
According to Nguyen, he was motivated to explore blockchain’s potential in gaming because he was frustrated at how many players don’t truly own valuable assets in popular titles. In an interview with Blockchain Gamer, he said the Ethereum platform had given him the ultimate opportunity to create his “dream game.”
Nguyen says that the breeding process, for which SLP is used, is designed to be familiar to those who have played other collectible games such as CryptoKitties.
What Makes Smooth Love Potion Unique?
It’s fairly unusual for in-game currency to be listed on exchanges like SLP has. In a way, it’s like Nintendo deciding to tie monetary value to the coins used in Super Mario.
Nguyen says Axies are different from other non-fungible tokens because of how they need to be nurtured if they are going to have any chance of reaching adulthood.
SLP is also unique because of how it has become one of the few in-game tokens to be listed by Binance in its Innovation Zone. The exchange has reserved this trading category for assets “that are likely to have higher volatility and pose a higher risk than other tokens.”
Find out about the Axie Infinity (AXS) governance token.
The latest data about Ethereum.
Find out more on our deep dive on Axie Infinity, and how Axie Infinity compares to CryptoBlades, another popular Play2Earn game.
Check out our guide on the top NFTs games of 2021.
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How Many Smooth Love Potion (SLP) Coins Are There in Circulation?
When it comes to tokenomics, the number of SLP in circulation is rather fluid. That’s because of how these tokens are burned whenever new Axies are bred. Nonetheless, at the time of writing the circulating supply of SLP was in the tens of millions — and this ERC-20 token does not have a hard cap.
If the number of Axie Infinity players increase substantially, this could result in much higher levels of SLP entering into the ecosystem as more competitions are won and lost.
Smooth Love Potion price rallied to an all-time-high (ATH) of $0.3642 on May 1, 2021, then dumped by almost 75% of its value. Prices proceeded to peak again in mid-July to reach a high of $0.3462. Smooth Love Potion price has since followed a downward trend.
How Is the Smooth Love Potion Network Secured?
Smooth Love Potion doesn’t have its own blockchain as it is an ERC-20 token — instead, it runs on the Ethereum blockchain.
Where Can You Buy Smooth Love Potion (SLP)?
When SLP initially launched, it didn’t actually have a fluctuating value as a cryptocurrency. However, this all changed when a liquidity pool for SLP was created on Uniswap. As we mentioned, the Binance Innovation Zone has unveiled support for the Pokémon-inspired game.
The top exchanges where you can buy, sell, and trade SLP currently are: Binance, KuCoin, Gate.io, FTX, Gemini, OKEx, Uniswap (V3), SushiSwap and many more.
Numerous trading pairs are offered, including SLP/ETH, SLP/USDT and SLP/BUSD. However there is substantial interest in the Philippines for the SLP to PHP price and also in Australia for the SLP to AUD and Europe for the SLP to EUR prices.
All of this means that you may have a little difficulty purchasing SLP directly with fiat. As a result, you may need to convert your dollars, pounds or euros into a mainstream cryptocurrency such as Ethereum first.
If you are new, you can find our simplified guide for purchasing crypto, project deep dives and more educational content on CoinMarketCap Alexandria.