Smooth Love Potion (SLP) is a native token of the Axie Infinity ecosystem. It enables the game to function optimally and also allows players to earn cryptocurrency rewards, thus encouraging further play.
In this comprehensive guide, we explore the true value of the Smooth Love Potion (SLP) token, present various use cases, as well as the game it is associated with. Next, we will discuss where to buy Smooth Love Potion, and finally conclude with a crypto prediction for SLP and a crypto review of the token.
What is Smooth Love Potion (SLP)?
Smooth Love Potion (SLP) is the cryptocurrency of the Axie Infinity game, a Play-to-Earn (P2E) game based on the Ethereum blockchain. It is a collection and battle game where players own, breed, trade, and battle virtual creatures called ‘Axies’.
As for SLP, it is used as a resource in the game to breed and reproduce Axies. Players can send their Axies to the ‘breeding farm’ where they mate to produce eggs. These eggs can then be hatched to create new Axies.
SLP can be earned by winning in-game battles. Players can then trade or sell their Smooth Love Potion tokens on various cryptocurrency exchanges available to them.
Ultimately, SLP is primarily the exchange currency of the Axie Infinity ecosystem. This cryptocurrency not only provides gaming opportunities for users but also allows them to earn real money, provided they decide to sell their SLP.
It is important to differentiate between SLP and AXS, the second native token of the Axie Infinity platform. While the former serves as the exchange currency and replaces experience points, AXS serves as a governance tool within the ecosystem.
Smooth Love Potion (SLP) History
To understand the Smooth Love Potion history, one must first consider the story of Axie Infinity. The game was created by the Vietnamese development studio Sky Mavis created by the Smooth Love Potion founder and was launched in 2018. It quickly gained popularity due to its unique gameplay and its ecosystem based on the Ethereum blockchain.
In Axie Infinity, players can own and breed virtual creatures called Axies. As the game became more popular, the demand for Axie breeding mechanisms became increasingly significant. This led to the birth of the concept of Smooth Love Potion (SLP) to meet the growing demand and expectations of the platform’s players.
The token was finally introduced in 2020 as a necessary resource for Axie breeding. During gameplay, players have to spend SLP to send their Axies to the breeding farm and facilitate their mating. When Axies successfully reproduce, a new egg is created, which can then be hatched to give birth to new Axies.
To create a financial incentive, the SLP token was designed to be a relatively rare resource in the game, meaning that players must invest time and effort to accumulate it. Therefore, over time, the Smooth Love Potion value has increased due to its growing demand and widespread use in the Axie breeding process necessary to keep playing.
Why Was Smooth Love Potion (SLP) Created?
As briefly mentioned earlier, explaining ‘What is Smooth Love Potion’, SLP was initially created to address the growing demand from players within the context of Axie breeding mechanisms. To do this, Smooth Love Potion has addressed four significant issues and needs:
Encouraging interaction between players and the platform. Since SLP induces Axie reproduction, it enhances player-platform interaction. The ability to breed new Axies from the mating of existing Axies has added an extra dimension to gameplay and allowed players to explore different strategies
Creating a robust internal economy. By making SLP necessary, developers succeeded in creating a demand for the resource. As a result, the value of SLP increased over time
Controlling the supply of Axies. SLP plays a major role in the supply of Axies available on the platform. When many players attempt to breed Axies simultaneously, the value of SLP rises to prevent an oversupply of Axies and vice versa. Consequently, an economic balance can be maintained more easily
Tokenomics stimulator. Players can earn SLP by winning battles and then exchange or sell them on crypto exchanges. This created an incentive for players to invest more in the game and seek higher-quality Axies to increase their chances of victory.
How does Smooth Love Potion (SLP) work?
Smooth Love Potion (SLP) functions as a simple in-game resource used to perform various operations within the Axie Infinity ecosystem. They’re mainly used for breeding Axies to create new ones. Axies need to be sent to breeding farms where they can be paired with other Axies for mating. Once the mating is completed, eggs appear which will then hatch, giving birth to new Axies.
Spending SLP is necessary for this process, but the cost varies based on the skill level and statistics of the Axies involved in the mating. Hatching eggs also requires SLP, but the cost is often lower than that of breeding.
Players can acquire the tokens by winning player-versus-player (PvP) battles, with a chance to earn SLP for each victory. The quantity awarded depends on the number of victories and the performance of the player’s team.
It’s only after winning the tokens that players can breed their Axies. This increases demand for the tokens because you need them to breed Axies and increase your chances of winning more battles and subsequent SLP token rewards.
Consequently, specialized marketplaces have sprouted where players can trade their SLP tokens. Meanwhile, other players simply acquire them from an exchange to expedite their progress in Axie Infinity. The value of SLP fluctuates up and down based on supply and demand creating a robust secondary market for the tokens.
Where to Buy Smooth Love Potion (SLP)
Many Play-to-Earn (P2E) gamers and enthusiasts have already been intrigued by the Axie Infinity experience. If you too want to give it a try, you will need to buy Smooth Love Potion (SLP). Let’s explore three major platforms where you can easily acquire SLP to start playing, exchanging, and trading.
If you’re unsure where to buy SLP, Binance should be the first choice to consider. The exchange is currently the industry leader by trading volume and has been for years ever since it was launched in 2017.
Binance has earned a reputation for offering one of the safest and most reliable platforms for trading cryptocurrencies. The platform emphasizes various protocols to enhance the security of its users and their funds, explaining why Binance users have never lost their cryptocurrency holdings.
With numerous trading tools and a wide range of tokens, it is the preferred option for both novice and experienced traders. You also have access to many additional services such as NFTs, DeFi, and a debit card, making Binance a one-stop service for all things crypto.
The KuCoin platform was also founded in 2017 and like Binance provides a wide range of cryptocurrencies including the Smooth Love Potion stock price. However, it is its user-friendliness that sets the platform apart from the rest of the market, leading to its nickname “The People’s Exchange”. With an interface suitable for both beginners and experts, KuCoin manages to attract a relatively broad audience.
It is entirely possible to visit KuCoin to buy SLP or simply to track the Smooth Love Potion’s price before making a purchase. Several purchasing options, such as spot trading or margin trading, are available, where you can buy more cryptocurrencies than you have the capital for.
As an aside, grab the platform’s native token, KuCoin Shares (KCS). This token allows holders to access additional trading options, earn rewards through Smooth Love Potion staking, and receive discounts on the trading fees typically charged by the platform.
If you know how to buy cryptos in a decentralized manner, then you’ll be pleased to learn that Smooth Love Potion is available on SushiSwap. SushiSwap is a decentralized finance (DeFi) protocol based on the Ethereum Smooth Love Potion blockchain. It was launched in September 2020 as a fork of Uniswap, another popular decentralized exchange protocol.
Unlike its predecessor, SushiSwap was created to offer enhanced features and additional incentives to users. The platform introduced innovations such as ‘yield farming’ and ‘staking’ SUSHI tokens. These mechanisms allow SUSHI token holders to earn additional rewards by providing liquidity or locking their tokens.
Smooth Love Potion Fear and Greed Index
Updated:: 24 February 2024
Now: 78 Extreme Greed
Now: 78 Extreme Greed
Yesterday: 78 Extreme Greed
Last Week: 70 Greed
Buying SLP in 2024: Is Smooth Love Potion a Good Investment?
You now know everything there is to know about SLP crypto. You also know how to buy SLP, but is it a good investment idea and will Smooth Love Potion go up in price at the moment? On one hand, Smooth Love Potion’s price as provided by CoinMarketCap currently indicates a 21.46% increase in value over the past year. However, the token has lost 98% of its value since its inception, falling to an initial SLP price of $0.1103 at its launch.
It is also essential to consider the popularity of Axie Infinity as it determines the value of Smooth Love Potion’s future. The game attracted a massive player base in early 2022 soon after its launch, particularly in Asian countries like The Philippines where players would earn significant income.
Unfortunately, the number of players has been declining ever since then as you can see in the Smooth Love Potion chart above making the Smooth Love Potion prediction uncertain. Sky Mavis has since released mobile games to introduce new players without knowledge of NFTs with some success, which will hopefully translate to more Axie Infinity players.
In conclusion, there are compelling reasons to believe that SLP represents an interesting investment. The Smooth Love Potion price USD is quite volatile and fluctuates interestingly from week to week. As the success of the game is closely tied to the price of Smooth Love Potion, keeping up with the game-related news and perhaps starting to play could yield significant returns in the long term.
Ultimately, it is highly likely that Smooth Love Potion will go up since it is undervalued and will gradually rise over time, benefiting both investors and players who invest in the Smooth Love Potion future.
The pros and cons of buying the Smooth Love Potion crypto
A token dependent on a Play-to-Earn game
Axie Infinity has been successful
SLP has been relatively stable over the past year
The game can be a bit repetitive
SLP allocation can be frustrating at times
You need to be interested in The game to get the most out of Smooth Love Potion
Our Final Opinion on Smooth Love Potion (SLP)
As we’ve discussed, SLP is closely tied to Axie Infinity and determines the Smooth Love Potion forecast. It serves as the native token for the Play-to-Earn platform and is an essential resource for progressing within the game. However, this resource can be earned or purchased on exchange platforms, so it isn’t only meant for players but investors as well.
To acquire SLP, you can visit the leading Centralized Exchanges (CEX) and Decentralized Exchanges (DEX) of the moment and search for the token. Throughout our guide, we’ve introduced three platforms, both CEX and DEX, where you can obtain SLP, and if you prefer, you can explore other equally effective platforms for purchasing your tokens.
In our Smooth Love Potion crypto prediction, we’ve noted that SLP could be interesting for both players and investors. The token shows promise, much like the Axie Infinity game, but you will need to be patient to see Smooth Love Potion recover as the game picks up momentum and attracts more players.
Smooth Love Portion's Frequently Asked Questions (FAQ)
What is Smooth Love Potion?
Smooth Love Potion (SLP) is both an in-game resource in the blockchain game Axie Infinity and a cryptocurrency. It has various use cases, all of which are described in our guide.
Should you buy SLP?
If you are considering SLP, we recommend reading our dedicated guide. There, you will find our crypto prediction for SLP, as well as our opinion on the token and the game.
Where to buy SLP crypto?
Most Centralized Exchanges (CEX) and Decentralized Exchanges (DEX) have decided to offer Smooth Love Potion due to the game’s popularity. We present three platforms in our guide (see above).
Is Smooth Love Potion (SLP) worth it?
According to our crypto prediction and opinion, Smooth Love Potion seems to be an interesting investment at the moment. However, staying informed about the game’s developments will help you better track the token’s movements.
Who created Smooth Love Potion (SLP)?
The CEO of the company behind the game is Trung Nguyen, who left his software developer role in the United States to focus on the Axie Infinity project.
Romaric tient avant tout à partager un contenu de qualité avec ses clients, mais surtout avec ses lecteurs. Aujourd’hui, il fait partie de l’équipe de Tokize et délivre des contenus pertinents en rapport avec les crypto-monnaies, les nouvelles technologies, et la blockchain.