Smooth Love Potion SLP
About
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.”
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, 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.
AI Analysis
What is the Smooth Love Potion (SLP) cryptocurrency good for? What are its main use cases?
Smooth Love Potion (SLP) is a cryptocurrency that is primarily used within the Axie Infinity ecosystem, a blockchain-based game that allows players to breed, raise, and battle fantasy creatures called Axies. Here are some of the main use cases for SLP:
In-Game Rewards: SLP serves as a reward for players in Axie Infinity. Players earn SLP by participating in battles and completing specific tasks within the game. This incentivizes gameplay and player engagement.
Breeding Axies: To breed Axies, players must use SLP as a form of payment. Each breeding process requires a certain amount of SLP, which adds a layer of strategy to the game as players must manage their SLP supply to breed new Axies.
Market Transactions: SLP can be used in the marketplace where players buy and sell Axies and other in-game items. The ability to use SLP for transactions adds liquidity to the game and enhances the economic experience.
Trade and Speculation: Like many cryptocurrencies, SLP can be traded on various exchanges, allowing investors and traders to buy and sell it for potential profit. This speculative aspect may attract individuals interested in the broader cryptocurrency market.
Community Incentives: SLP may also be used for community initiatives and rewards that enhance player engagement or support community events. This aligns with the overall ethos of decentralized gaming.
Cross-Platform Potential: While primarily tied to Axie Infinity, there could be potential for SLP to be integrated into other decentralized applications (dApps) or games in the future, expanding its use beyond the Axie ecosystem.
Overall, SLP primarily functions as an essential component of the Axie Infinity game, facilitating gameplay and fostering an in-game economy, while also providing the potential for other digital interactions within the broader blockchain context.
What blockchain does Smooth Love Potion use? Is it its own blockchain or built on top of another?
Smooth Love Potion (SLP) is an Ethereum-based token. It is an ERC-20 token, which means it operates on the Ethereum blockchain rather than being its own separate blockchain. SLP is primarily used in the Axie Infinity ecosystem, a blockchain-based game where players can earn the token by participating in various activities.
Is Smooth Love Potion programmable? Does it support smart contracts or decentralized applications?
Smooth Love Potion (SLP) is primarily used as an in-game currency in the Axie Infinity ecosystem, which allows players to breed, trade, and battle creatures known as Axies. SLP is an ERC-20 token built on the Ethereum blockchain, meaning it adheres to the Ethereum token standard.
However, SLP itself is not inherently programmable and does not directly support smart contracts or decentralized applications (dApps). The token can be used within existing smart contracts or dApps that utilize the Ethereum blockchain, but SLP does not have its own programming capabilities. Instead, it is generally managed and interacted with through the smart contracts of the broader Axie Infinity platform.
If you are looking for programmability, you'd want to consider Ethereum as the underlying platform, where smart contracts and dApps are built and can interact with tokens like SLP.
How fast are Smooth Love Potion transactions? What is the typical confirmation time and throughput (transactions per second)?
Smooth Love Potion (SLP) is a token standard that operates on the Ethereum blockchain (as well as on the Ronin sidechain). The transaction speed and confirmation time for SLP depend on the underlying blockchain network it is using. Here’s a breakdown:
Ethereum: Transactions on the Ethereum blockchain can vary widely in confirmation times depending on network congestion, gas fees, and other factors. Typically, transaction confirmation can take from a few seconds to several minutes.
Ronin Network: Ronin is a sidechain specifically designed for games like Axie Infinity, where SLP is commonly used. Transactions on Ronin are generally faster than on Ethereum, with confirmation times often under 5 seconds, allowing for a smoother user experience.
Throughput: The throughput (transactions per second, or TPS) also varies. Ethereum has a limited TPS, especially during peak usage, often averaging around 15-30 TPS. Ronin, however, has a much higher throughput, capable of handling thousands of transactions per second due to its design as a sidechain focused on gaming.
In summary, if you're using SLP on the Ronin network, you can expect faster transaction speeds and lower confirmation times compared to using it on the Ethereum blockchain. Always check the current network conditions for precise times, as they can fluctuate significantly.
How much data can I store on the Smooth Love Potion blockchain? Does it support on-chain data storage?
Smooth Love Potion (SLP) is a token standard built on the Ethereum blockchain, specifically designed for use in the Axie Infinity game ecosystem. While SLP is primarily used for in-game transactions, the underlying Ethereum blockchain itself does support smart contracts and can be used for various types of data storage.
However, Ethereum is not optimized for large-scale on-chain data storage due to high costs and scalability issues. The amount of data you can store on-chain is technically dependent on the gas limit of Ethereum transactions. Each piece of data you store will require a certain amount of gas, which translates into a monetary cost. Storing large amounts of data directly on the blockchain can be prohibitively expensive.
For applications needing to store large amounts of data, developers often use a hybrid approach, where critical data is stored on-chain while less critical or larger datasets are stored off-chain using solutions such as decentralized storage networks (like IPFS) or traditional databases.
In summary, while you can store data on the Ethereum blockchain, including SLP-related smart contracts, doing so can be costly, and it is generally not advisable to store large amounts of data directly on the blockchain.
Contact Us About Smooth Love Potion
Are you a representative of the Smooth Love Potion project? Send us a message.