60% jump in the price of one of the Oxy Infiniti game tokens; What was the cause?

One of the main concerns of the popular Chinese blockchain game Axie Infinity is the growing inflation of the Smooth Love Position (SLP) token. As a result, the company has tried to reduce the supply of SLP tokens by making some fundamental changes to the game. With the decline in the supply of SLP tokens, the price of this digital currency has grown dramatically during this period; But if this is done, the amount of rewards received by players will be reduced.

To Report Crypto News, the daily release of Smooth Love Poison tokens in the twentieth season of OxyInfinity is set to be drastically reduced using several economic approaches. It is worth noting that Oxy Infiniti players receive Smooth Love Position tokens as a reward.

In the first phase, Oxy Infinity is set to remove Adventure Mode rewards and Daily Quest rewards for users of the game. These sections account for 40% and 14% of all smoothie tokens issued per day, respectively. As a result, the daily release of these tokens is reduced by about 54%.

Due to the sharp increase in the inflation of SLP tokens, reducing their emission is very important. Previously, the number of SLPs released (supply) per day was four times the number of SLPs burned (demand). This could be a good reason for the token’s poor price performance last year.

The news caused the price of Oxy Infiniti (AXS) and SLP tokens to increase by 10% and 27%, respectively, at noon on Monday, February 7th. It is worth mentioning that the upward trend of SLP has been followed in the last 24 hours and its price has experienced a jump of 60%. Currently, the SLP token is around $ 0.021 and the AXS token is around $ 64.

Also read: Axie Infinity; A platform to play and earn money in the digital world

Oxyinfiniti explained that making these changes was necessary to balance the game economy and prevent potential damage to users.

The company said:

At the moment, decisive and effective action must be taken to improve the economy of the Oxy game. Otherwise, the whole game may be jeopardized and face a general and permanent economic collapse.

On the other hand, in the section where players play against each other (PVP), the number of SLP tokens produced is twice the number of tokens burned. To solve this problem, Oxy Infiniti is set to adjust the awards in this section as well. In addition, “fun mechanisms to burn and reduce the supply of these tokens” will be added to the game.

Oxy Infiniti has also greatly expanded the game scoreboard. In Season 19 scoreboard, approximately 3,000 AXS tokens were distributed among the top 1,000 players. In Season 20, 117,676 tokens are to be distributed to 300,000 players.

The company said in a statement:

To put it simply, we have prioritized the growth of the number and the introduction of millions of new players. Without this approach, Oxy would probably remain a small game with only a few thousand players. Having several thousand players is a great condition for many projects, but our dream is to be able to introduce billions of players to the world of Web 3.0 and change the Internet forever.

Oxy Infiniti game has serious economic problems. Since the increase in the price of Oxy Infiniti tokens, fewer players have followed the standard game procedure. Instead of buying three oxy tokens to start the game, they borrow them from other players. As a result, many people are worried that this game might not last long.