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Axie Infinity Introduces Major Rework to Smooth Love Potion Token

12/01/2024 06:03

According to Decrypt, Axie Infinity, a play-to-earn monster battling game developed by Sky Mavis, is implementing a major rework to its reward token, Smooth Love Potion (SLP). The Axie Infinity team has established a supply cap of 44 billion SLP tokens, which will be enforced through metering in-game rewards. Currently, there are about 41.4 billion SLP in circulation. The team aims to bring SLP to a deflation rate of 2% and has established a stability fund. For every 10 SLP burned, 2 SLP will be added to the fund, which will programmatically buy and sell SLP to balance inflation. SLP's price has risen roughly 8% over the past day following this news but remains down almost 2% over the past week. The token is still down more than 99% from its 2021 peak. The Axie Infinity team has also introduced a new game mode, Premium Cursed Coliseum, where players pay a one-time fee of 150 SLP to enter and can earn SLP rewards based on their number of wins. However, SLP earned from this mode cannot currently be withdrawn or cashed out, but the feature is expected to become available within the next month or two.

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