Smooth Love Potion (SLP) – Full Review
Have you heard of Smooth Love Potion (SLP)?
It has become one of the more well-known cryptocurrencies due to the rising popularity of the blockchain based game Axie Infinity. This article will offer a comprehensive review of the token that will cover pretty much everything you need to know about it.
What is Smooth Love Potion (SLP)?
First of all Smooth Love Potion is an ERC-20 token on the Ethereum blockchain. This means that it uses the Ethereum blockchain to secure transactions rather than having its own miners.
It’s a much easier and simpler way to create a token than creating an entire blockchain that must attract miners. The token is the main token used in the Axie Infinity blockchain game on Ethereum.
Axie Infinity players can actually earn Smooth Love Potion by simply playing Axie Infinity. The tokens can then be sold for real money on a variety of different exchanges, which has given rise to something known as play to earn gaming.
As you can probably imagine, the maximum supply of Axie Infinity is unlimited. However, there is a hard cap on the amount of Smooth Love Potion that a player can earn in a day from playing Axie Infinity.
What is Axie Infinity?
Axie Infinity is a play to earn game on the Ethereum blockchain. The entire purpose of the game revolves around players “breeding” (or buying) axitodals (Axies) to fight other players.
It’s actually similar to card games like Yugioh or Pokemon in that players build their own decks that can be used during battle.
This is the digital era, though. The Axies are non-fungible tokens that are the property of the wallet holder, which is a major difference between blockchain gaming and traditional gaming. In traditional gaming your character does not actually belong to you.
It’s actually the property of the development studio and you have authorization to use the character. This is what game studios use to prevent players from selling characters or in-game gold.
Axie Infinity, and other blockchain games, do not care about players selling their in-game gold (Smooth Love Potion) or their characters (Axies). In fact, Sky Mavis actually encourages players to play their game to earn extra money.
This has given rise to a whole new video game genre called play to earn gaming.
To summarize, Axie Infinity is a deck battle game that allows players to build decks of Axie NFTs to battle other players. Axies can be bred by using the in-game currency, Smooth Love Potion, or purchased/borrowed on the marketplace using Smooth Love Potion. The game also has quests and other daily tasks for players to do to earn Smooth Love Potion.
Here’s How to Earn Smooth Love Potion
Smooth Love Potion is a little different from traditional cryptocurrencies because it’s not mined. The only way to earn Smooth Love Potion is by playing Axie Infinity and earning the tokens as a reward for completing certain tasks.
Here are the different tasks that players can do to earn SLP.
Axie Infinity has quests in it. These quests are not really quests in the MMO sense of the word.
Instead, the player has to complete a few daily tasks in order to earn a 25 SLP reward.
At the time of writing, completion of the daily quests requires doing the following in Axie Infinity:
- A daily check-in to the game.
- Complete 10 levels of the adventure mode, which is a single player player vs environment (PvE) battle.
- Win 5 player vs player (PvP) matches.
The daily quests reset requirements after 24 hours. The reward is paltry at only 25 SLP per day, but completing the daily quest should not take too long for an experienced player.
Most players earn SLP by defeating other players in the PvP arena. This basically consists of a battle with other players that have a similar ranking as yourself. Players receive an SLP reward only if they win and have an energy level (MMR) above 800. MMR is earned by completing quests in the PvE mode or by beating other players in PvP.
However, if you have less than 800 MMR, then you will not receive any SLP for a win in the PvP arena. You will still receive an energy reward, though.
The game also has a single player mode that allows players to earn SLP and gain experience for their Axies for later use in the PvP arena. You receive a one-time bonus the first time you complete an adventure level.
Unfortunately, you do not receive the bonus for completing the adventure level again. But you do still receive some SLP for completing adventure levels as part of the daily quest requirement.
The tokenomics of SLP are interesting because they tie directly into the gameplay of Axie Infinity. As mentioned previously, SLP has no maximum supply.
It does not have an inflation problem, however, because SLP are burned when players breed Axies. This keeps the supply of SLP in check because as the game adds more players more people will want Axies, which burns SLP.
The current price of SLP is $0.02/SLP at the time of writing. The all-time high for SLP was a whopping $0.43/SLP at the peak of the NFT bull run in June 2021.
The current market cap stands at $733 billion, which makes SLP the 113th largest cryptocurrency by market cap.
Is SLP a Good Investment?
Whether or not SLP is a good investment for you mostly depends on your thoughts about blockchain gaming and the future plans of Sky Mavis.
Axie Infinity is the largest blockchain game by a fairly large margin, so if blockchain gaming becomes (more) popular, then SLP will almost certainly rise in value.
We believe that SLP would make a good investment as the price of it is extremely low compared to the expected future value of it. However, it could take years for the price to return to the all-time seen in the middle of 2021.
As always, do not take this as investment advice. Cryptocurrency is an extremely risky investment and requires doing plenty of research to make an informed decision.
Where to Buy SLP?
SLP is a fairly large, popular cryptocurrency, so you should not have too much difficulty buying it on a centralized exchange. Exchanges like Binance or Katana. Nearly
41% of SLP is bought and sold on Binance, so that is our recommendation of where you should purchase it.
That covers it for our full review of SLP. It’s an interesting cryptocurrency because the viability of the currency requires the continued success and growth of Axie Infinity. Fully understanding the token likely involves some familiarity with gaming economics and ideally familiarity with Axie Infinity itself.
To those that are considering investing in SLP, we highly recommend playing Axie Infinity to fully understand the cryptocurrency. The game is actually pretty enjoyable despite its simplicity, which makes it a fun cryptocurrency to research.