What is an SLP token? The current Small Love Potion (SLP) is among the most researched Tokens in July. What is the crypto money SLP, which made a sound in the market in a short time and then went down?
Diversity in cryptocurrencies has gained momentum in recent years. One of them, Small Love Potion (SLP), is quite unusual for the in-game currency to be listed on exchanges like SLP. In a way, it’s like Nintendo decided to tie monetary value to the coins used in Super Mario.
Small Love Potion price today is 0.1884
USDT, the 24-hour trading volume is $10918675645.92. Small Love Potion has been down in the last 24 hours. The instant CoinMarketCap ranking is #199. However, in a short time, it will enter the top 100 with the investments it has received.
WHAT IS SMALL LOVE POTION (SLP) TOKEN?
Small Love Potion (SLP) coins are earned by playing the Axie Infinity game. This digital asset replaces experience points.
SLP are ERC-20 tokens and can be used to breed new digital pets known as Axies. The breeding cost starts at 100 SLP, but increases gradually – to 200 SLP for the second type, 300 for the third type, 500 for the fourth, 800 for the fifth, and 1300 for the sixth. Axies can be bred up to seven times and the seventh breed costs 2,100 SLP. This limit exists to prevent hyperinflation in the market.
Accumulating SLP throughout the game can take time and a player may need to win 15 contests to earn enough coins to perform their first type. Buying SLP on the open market is a way for players to get a head start.
WHO ARE THE FOUNDERS OF SMALL LOVE POTION?
A better question is: who founded Axie Infinity? The CEO of the company behind the game is Trung Nguyen, who left her role as a software developer in the US to focus on the project.
According to Nguyen, he was motivated to explore the potential of the blockchain in gaming because he was frustrated with how many players in popular games don’t actually have valuable assets. In an interview with Blockchain Gamer, he said that the Ethereum platform gave him the ultimate opportunity to create his “dream game.”
Nguyen says the breeding process using SLP is designed to be familiar to those who play other collectible games like CryptoKitties.
WHAT MAKES SMALL LOVE POTION UNIQUE?
It is quite unusual for the in-game currency to be listed on exchanges like SLP. In a way, it’s like Nintendo decided to tie monetary value to the coins used in Super Mario.
Nguyen says Axies differ from other non-tradable tokens in how they must be fed if they are to have a chance to reach adulthood.
SLP is also unique in that it has become one of the few in-game tokens listed by Binance in the Innovation Zone. The exchange has reserved this trading category for assets that are “likely to have higher volatility and pose higher risk than other tokens.”
HOW MANY SMALL LOVE POTION (SLP) COINS ARE IN CIRCULATION?
When it comes to tokenomics, the number of SLPs in circulation is pretty fluid. This is because of how these tokens are burned when new Axies are produced. However, at the time of this writing, the circulating supply of SLP was in the tens of millions – and this ERC-20 token has no fixed cap.
If the number of Axie Infinity players increases significantly, this could result in much higher SLP levels entering the ecosystem as more competitions are won and lost.
HOW SAFE IS THE LITTLE LOVE OXY NETWORK?
Small Love Potion (SLP) does not have its own blockchain as it is an ERC-20 token – instead it runs on the Ethereum blockchain.
Where Can You Buy Small Love Potion (SLP)?
When SLP was originally launched, it actually had no fluctuating value as a cryptocurrency. However, all that changed when a liquidity pool was created for SLP at Uniswap. As we mentioned, Binance Innovation Zone has announced support for the Pokémon-inspired game. A single trading pair is offered that connects SLP with ETH.
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. You can find out more about this process here.
Hello there! My name is Oktay from Tokensboss editors. I introduce myself as a business graduate and writer. I have been doing research on cryptocurrencies and new business lines for over 2 years.