Smooth Love Potion (SLP) Live Price

Smooth Love Potion

Several cryptocurrencies are making waves around the world, attracting user loyalty in return. One of such is SLP (Smooth Love Potion), which is a leading play-to-earn rewards token in the Axie Infinity gaming metaverse.

We have provided all that you need to know about SLP in this guide.

What Is Smooth Love Potion (SLP)?

Smooth Love Potion is earned when you take part in the Axie Infinity gaming metaverse. It is the monetized version of experience points, and makes it possible for participants to breed digital pets called Axies.

Breeding of these pets starts at 100 SLP, gets to 200 SLP for the second breed undertaken, and 300SLP for the third. It rises to 500SLP for the fourth and peaks at 800SLP for the fifth. At the sixth breed, the cost rises to 1,300 SLP. The pinnacle is the seventh breed at 2,100.

The popularity of the Axie Infinity has surged in recent years to the extent that SLP coin is a foremost cryptocurrency in the global market. Since earning SLP for a first breed is possible only after winning 15 competitions, many gamers buy SLPs to avert the long wait.

How Does Smooth Love Potion Work?

SLP coins are earned when you win games, which entails participating in daily quests. When you meet the required threshold, you can go ahead to start breeding pets.

SLP uses the burning mechanism in its ecosystem to control its coin circulation. At the end of an AXIE breeding, all SLP tokens utilized in the process are burned. 

Every player is limited in the number of SLP to farm each day, which leads to a surge in token demand when the gamers strive to optimize their gains. The SLP value rose to $0.41, an all-time high that was recorded in July 2021 amid the global market bull run.

SLP is also an incentive, serving as a value and reward coin when gamers attain new heights or win games with the ecosystem. The coin is traded on leading crypto marketplaces like Gemini, Binance, among others. DeFi platforms like Uniswap and Curve Finance also support SLP in liquidity pools.

How can I earn SLP?

To earn SLP, gamers need to participate in any of the following:

What Makes Smooth Love Potion Unique?

Smooth Love Potion is primarily an in-game currency and that makes it unique. It was formerly known as Small Love Potion before its name change. The Axie Infinity ecosystem gives SLP its relevance and this has led to its soaring popularity around the world. 

Axies require nurturing to reach adulthood, and this takes time, making them a world apart from most non-fungible tokens

SLP is one of the foremost play-to-earn coins with the largest daily trading volumes in leading cryptocurrency exchanges like Binance and Kucoin, among others. Binance also listed SLP in its innovation zone to underscore its risk and reward value compared to its peers.

Key Events & Management

SLP is an ERC-20 token that runs on the Ethereum Blockchain. It is also available on the Ronin Bridge via asset bridge on the Ronin network. No hard or soft forks have occurred in the ecosystem yet.

Axie Infinity was established in 2018, and it is the platform that supports the use and governance of Small Love Potion.

This cryptocurrency and gaming ecosystem was founded by Aleksander Leonard Larsen, Catherine Sison Parino, and Trung Nguyen. While Larsen and Nguyen were still involved in the project, there is no sign of Sison Parino’s involvement anymore as of May 2022.

The bright outlook of the project led to the success of five funding calls for the period to May 2022. Two of the initial seed funding raised $7.5 million in May 2021 and $1.5 million in Q4 2019.