What is Smooth Love Potion?

Introduction

With the flourishing of non-fungible tokens (NFTs), blockchain technology has opened an entirely new world of possibilities. As more companies create metaverse gaming worlds on blockchain networks, many of them allow players to earn money while playing. One such game is Axie Infinity, which has been growing in popularity since 2018.

Axie Infinity rewards are composed of its own ERC-20 token, Smooth Love Potion (SLP). As a digital currency, users can buy and sell SLP on cryptocurrency markets. Within the game, SLP can be used to breed new Axies, which can then be traded as non-fungible tokens on the Axie Infinity marketplace.

What is Axie Infinity?

Axie Infinity is a non-fungible token game that belongs to the play-to-earn category, where players battle each other using unique game characters called Axies. You can think of an Axie as similar to a Pokémon. Each has different classes, body designs, and statistics. They are non-fungible tokens that can be stored in an Ethereum wallet or a Ronin wallet.

The Axie Infinity blockchain ecosystem was built on the Ethereum blockchain. To play this game, you need to assemble a team of Axie characters. You can purchase Axies from the marketplace or borrow them from other players through a scholarship program. You can also breed new Axies using Smooth Love Potion tokens. SLP tokens can be earned by playing Axie Infinity, and top-ranked players are rewarded with AXS tokens. Additionally, holders of AXS tokens can participate in governing the Axie Infinity blockchain ecosystem.

What is Smooth Love Potion and How Does It Work?

Smooth Love Potion is the native digital currency of the Axie Infinity game. SLP, previously known as "Small Love Potion," is an ERC-20 game token with unlimited supply. Historically, SLP has achieved significant market capitalization with billions of tokens available for trading in the market.

SLP can be earned by completing daily tasks or participating in battles or adventures within the game. Once players accumulate a certain amount of SLP tokens, they can begin breeding their own unique Axies. The breeding cost of each Axie varies, as it depends on the number of Axies that have been previously bred from the parent Axies. Axies can be bred a maximum of 7 times each. The more times an Axie is bred, the more SLP tokens are required.

SLP is an alternative digital currency with a burning mechanism. After each Axie breeding, the SLP tokens used are burned permanently. Since players can only collect a limited amount of SLP tokens in the game daily, demand for the tokens is expected to increase as players attempt to progress in breeding. The price of SLP fluctuates according to supply and demand forces, having reached significant peaks at various times in the past.

In the Axie Infinity metaverse, SLP is more than just a game currency for breeding new digital pets. It is also a reward token for players when they reach new levels or win battles using their virtual Axies. On the other hand, SLP token holders can speculate on the price and trade it on cryptocurrency exchange platforms. SLP is also available in liquidity pools on decentralized exchanges. It has now become part of the play-to-earn gaming movement that allows players to earn income by playing Axie Infinity.

How to Earn SLP Tokens in Axie Infinity?

SLP can be obtained by completing daily tasks, competing with players in battle arenas, or fighting monsters in adventure mode.

1. Complete Daily Tasks

Daily tasks grant additional SLP to players who log in daily and complete 10 levels in adventure mode and win five battles in arena mode. The specific rewards may vary based on game updates and current mechanics.

2. Battle in Arena Mode

Arena mode is the primary source of SLP rewards in the game. In this mode, battles are organized for players to face other players based on their ranking. Each battle consumes one energy point, and each victory grants an SLP reward according to the player's "MMR" (Matchmaking Rating). The higher your ranking, the more SLP tokens you receive per victory. Note that you need an MMR higher than 800 to receive SLP rewards.

When energy runs out, players can still play in PvP confrontation mode to increase their points, but they will not receive SLP rewards. You can check your energy level from the main menu in the top left corner of the screen. The amount of energy you have depends on the number of Axies you own:

• 3 to 9 Axies: 20 energy
• 10 to 19 Axies: 40 energy
• 20 or more Axies: 60 energy

3. Battle in Adventure Mode

Adventure is the single-player mode in the game. It consists of 36 levels with increasing difficulty and SLP rewards. You can earn up to 50 SLP daily from engaging in adventures. Starting adventure mode does not require energy; you only need it if you want to gain experience points for your Axies.

Compared to PvP arena mode, PvE adventure mode requires less time and effort to collect SLP tokens. However, you can only receive SLP rewards once per adventure level. You can play the same level again to meet the requirements for daily task SLP rewards, but you will not receive additional SLP rewards. To earn more SLP tokens, you can also defeat bosses at certain levels to receive one-time SLP rewards.

How to Claim SLP Tokens from Axie Infinity to Ronin Wallet?

After earning SLP tokens from the game, you will be able to claim them manually every 14 days.

1. Log in to your Axie Infinity account and link your Ronin wallet. Click on [Claim Tokens] from the menu to see how much SLP you can claim and when you can do so. Then click on [Claim SLP Tokens] to transfer SLP tokens to your Ronin wallet.

2. Return to your Axie Infinity account dashboard and confirm that your Ronin wallet is linked. Click on [Claim Tokens] - then [Claim SLP Tokens]. The amount of SLP tokens claimed will appear in your Ronin wallet.

3. If you want to sell SLP tokens, you can transfer them to MetaMask or another Ethereum wallet using the Ronin Bridge. Alternatively, you can send SLP tokens directly to a Ronin wallet on a major cryptocurrency exchange through the RON network. This will save you money as you can avoid paying Ethereum network transfer fees.

Note that you can also trade your SLP tokens for other digital currencies using the Katana decentralized trading platform. As of recent updates, the swap function supports AXS, WETH, USDC, and SLP tokens.

How to Buy SLP on Cryptocurrency Exchanges?

To breed more virtual Axies, you will need to obtain more SLP tokens. In addition to earning through playing Axie Infinity, you can also purchase SLP tokens from cryptocurrency exchange platforms. Then you can transfer them to your Ronin wallet via the Ronin network.

1. Log in to your account on a major cryptocurrency exchange and navigate to [Trade]. Choose [Classic] or [Advanced] trading mode to get started. In this example, we will select [Classic].

2. Next, type "SLP" in the search bar to display a list of available SLP trading pairs on the exchange. In this example, we will use the SLP/BUSD trading pair.

3. Under [Spot], select the order type and enter the quantity you want to purchase. Click on [Buy SLP] to submit the order, and the amount of SLP purchased will appear in your spot wallet. From here, you can click on [Withdraw] to transfer it to an external wallet.

Conclusion

Axie Infinity is considered one of the most famous decentralized finance projects in recent times. As a game token in a blockchain gaming project in the play-to-earn category, SLP provides players with a simple and interactive way to earn additional income. In fact, SLP rewards have enabled many communities in countries such as the Philippines to improve their income in local currencies during economic challenges.

FAQ

What is Smooth Love Potion (SLP)? What are its uses?

Smooth Love Potion (SLP) is a digital currency used in the Axie Infinity game ecosystem. Players use SLP to breed and enhance collectible digital pets called Axies. It serves as an in-game reward token and is essential for gameplay progression and trading within the metaverse.

How to acquire and earn Smooth Love Potion?

Earn SLP by playing Axie Infinity and winning matches in the Battle Arena or climbing the ranking ladder. Higher MMR scores yield more SLP per victory. Earned SLP can be used for Axie breeding or converted to real currency through Ronin Network.

What is the role of SLP tokens in the Axie Infinity game?

SLP tokens serve as in-game rewards for players' combat victories and can be used to purchase items, upgrade Axies, and participate in breeding mechanics. They function as the primary earning mechanism for players.

Does Smooth Love Potion have significant price volatility? What are the investment risks?

SLP exhibits high price volatility, peaking at $0.36 in 2021 before declining during the 2022 bear market. Investment risks include speculative nature, game dependency, unlimited supply, and market fluctuations. Price recovery potential exists as gaming adoption grows.

What is the difference between SLP and AXS tokens?

AXS is Axie Infinity's governance token used for protocol decisions, while SLP is an in-game asset token used for breeding Axies. SLP has no governance rights and functions solely as a game utility token.