SLP currency; Eternal potion of love!
The expansion of blockchain technology and the flourishing of the non-traditional token (NFT) market have made digital asset-based computer games gain a stronger foothold among users, especially professional gamers.
Oxy Infinity (Axie Infinity) is one of the titles that made a lot of noise. This game with strange and lovable creatures, in addition to its fun side, allows users to earn money through various processes. Of course, we should not forget that the popularity and innovations of this game made the name and reputation of this title reach areas such as Metaverse and NFT markets.
Read more: Axie Infinity; A platform to play and earn money in the digital world
This attractive game, in addition to using blockchain technology and benefiting from unique tokens, also uses a digital currency called SLP; A currency that is one of the important pillars of this game. If you want to know what SLP or Smooth Love Potion is, how it can be obtained and what are its uses, we suggest that you do not miss the continuation of this article.
What is SLP or Smooth Love Potion currency and how does it work?
Because the nature of currency SLP Or to fully understand Smooth Love Potion, we must first know some points about the game Oxy Infinity. If you are one of the gamers and have the experience of playing Pokémon (Pokémon) or Tamagotchi (Tamagotchi) in your gaming career, you will easily understand the mechanism of Oxy Infinity.
In Axie Infinity, players collect and breed creatures called Axies and fight against other Axies. Each player must have three aces. The world of this game is located on a blockchain network; For this reason, each oxy is a heterogeneous token. This means that each oxy is completely unique and the value of each of them is different from the other.
In order for the game to have an independent and self-sufficient world for itself, it needs an economy, and this economy must have currency (money) to be able to stand up. The Axie Infinity economy is supported by two currencies: Smooth Love Potion or (SPL) and Axie Infinity Shards or AXS. Technically, SLP is an ERC20 token with no cap on its supply. Currently, nearly 4.3 billion units of this currency are in circulation and its market value is about 146 million dollars.
Players can earn SLP tokens by completing daily tasks or participating in in-game battles and adventures. When players’ tokens reach a certain number, they can have their own oxy. The cost of breeding and reproduction of each breed is different from the other, depending on the Breed Count parameter of its parents Oxy Or it depends on how many times they have reproduced. Each oxy can reproduce only 7 times; So, the higher this parameter is, the more SLP tokens are needed to breed and grow Oxy.
The SLP token also has a burning mechanism. After each oxy spawn, the tokens used for this spawn are burned. Players can only enter a certain amount of SLP tokens into the game every day; For this reason, it is expected that the more the players advance in the game and the reproduction process, the more the demand for the token will increase, and this supply and demand will determine the price of the token. It should be noted that the SLP token was able to register a price ceiling of $0.41 on July 4, 2021; But currently, with a price of around $0.0033, it is 99% away from its peak price.
SLP’s role in OxyInfinity’s metaverse is more than a special currency for breeding digital creatures. Players are rewarded in the form of SLP when they reach new levels or when their oxy wins battles. Also, SLP token holders can benefit from transactions of this token in digital currency exchanges. Currently, the SLP token is part of the game’s monetization stream, allowing gamers to earn money by playing on Oxy Infinity.
History and founders of SLP currency
The creator of the SLP token is the team behind the game Oxy Infinity or Sky Mavis, a company based in Vietnam. Trung Nguyen, the CEO of this company, was working as a software engineer in America; But he left his job to focus more on his project.
According to Nguyen, the capacity of creating games in blockchain depends more than anything on the blockchain on which the game is going to be built; Because many gamers don’t have much assets in popular games. Blockchain game players say the Ethereum platform helps them build their “dream game.”
Attention Don’t He is so into the world of blockchain games that he says that he created the ability to reproduce oxys in the game Oxy Infinity for those who had previously played collectible games such as Cryptokitties.
How to get SLP token?
SLP token can be obtained in three ways: 1. performing daily tasks; 2. Competing with players in arena or field (player vs. player PvP) matches; 3. Fighting between oxys in adventure mode (player versus PvE environment).
Note that after the Oxy Infinity Season 20 update, the SLP reward for completing daily tasks and adventure mode has been disabled, and players are now only rewarded for participating in Arena matches.
1. Doing daily missions (Daily Quest)
Until now, players could be rewarded with 25 SLP units by completing daily missions; Of course, this reward was for players who had a continuous presence and had completed and won 10 levels of adventure mode and 5 arena matches.
2. Arena and face-to-face (PvP) matches
Player-versus-player (PvP) field matches are the most important source of SLP rewards. In these matches, players compete with each other based on MMR or Matchmaking Rating, and before each match, they must use Energy Points. At the end and after each player wins, they are rewarded based on their MMR rating.
The better the player’s rank, the more SLP he will receive for his victory. Also keep in mind that to receive this bonus, your MMR must be at least 800. If a player runs out of energy, they can still race to increase their MMR; But he does not receive a reward. Note that the amount of player’s energy depends on the number of his oxys in the battle, and this amount is:
- 3 to 9 oxy: 20 energy
- 10 to 19 oxy: 40 energy
- 20 oxy and more: 60 energy
3. Combat in adventure mode (PvE)
The adventure mode is actually the single player part of the game, which has 36 stages, and the higher the stages, the harder the game becomes. Until now, participation in the adventure mode also brought rewards for players, and each player could earn a maximum of fifty SLP per day; But as we mentioned, after the update of the 20th chapter, the reward for the adventure mode will no longer be paid. Of course, the creators of the game have said that it is possible that in the future, the rewarding of this section will be activated again.
What are the uses of SLP token?
With the SLP token, you can use its various applications. Some of these applications are:
- Cultivation of oxys
The creatures you have in Oxy Infinity are valuable. This means you can sell oxys to other players in addition to using them in battles. If you want to make more money selling oxy, you better learn how to breed them. Oxy can reproduce; But you also need SLP token to reproduce them. So make sure you have enough SLP tokens in your wallet.
- Selling SLP in exchanges
The SLP token is a digital currency based on the Ethereum blockchain that has value in the real world. This means you can sell your SLP token on cryptocurrency exchanges. In order not to lose, you need to choose the right time to sell. Also, be aware of which exchange you use; Because credit and the amount of fees are very important in choosing an exchange.
- Buying products from stores
Since the value of the SLP token is tied to real money, you can use this token to purchase products and services in the real world. In the Philippines, many stores and restaurants accept the SLP token as a payment method.
Buy SLP token
Like other digital currencies, buying SLP token is possible in two ways:
- Directly from Iranian websites with Rial and bank card
- Indirectly by buying other digital currency from Iranian exchanges and converting it to SLP token in foreign exchanges
Buying from Iranian exchanges
To buy SLP token directly from Iranian exchanges, you can find these exchanges by searching on Google. Then, go through the registration and authentication procedures and make your purchase directly with your bank card.
Always consider the possibility of fraud when using cryptocurrency exchanges; For this reason, before using any exchange, read the research and news about it so that you don’t fall into the trap of fraudsters. Checking the address, phone number, about us section, related blogs and history of the exchange can help in evaluating its credibility.
Another point that you should pay attention to is exchange fees. Some exchanges charge lower fees for buying and selling digital currencies. Also, the liquidity of exchanges and the volume of their transactions are also important; Because the higher the liquidity and volume of exchange transactions, the shorter the time you can do your buying and selling.
Buying from foreign exchanges
If for any reason you want to choose the second method, i.e. buy Bitcoin or Dai (DAI) from domestic websites and then convert it to SLP token in a foreign exchange, you should be careful in using foreign exchanges and take the necessary points into consideration.
Some foreign exchanges have made it difficult for Iranian users to access due to restrictions, and using them is very risky for traders living in Iran. At the same time, Iranian users face risks such as account blocking and authentication problems; Therefore, transfer your capital to these exchanges with more care and caution.
FAQ about SLP Token
We said earlier that the Oxy Infinity game ecosystem has two digital currencies: one is SLP and the other is AXS. SLP token is the in-game digital currency that is obtained by participating in the game and doing various tasks; But AXS is the governance token of this game, through which its holders can vote on proposals and projects related to the structure of the game. In addition, stocking and use for payment in the AXI store are other uses of AXS.
Small Love Potion is the previous name of Smooth Love Potion.
SLP token was developed by Sky Mavis game studio. Sky Mavis team members are: Trung Nguyen, CEO, Aleksander L, Chief Operating Officer, Viet Anh Ho, Chief Technology Officer, and Tu Doan, Art Director. .
Since the SLP token is based on the Ethereum blockchain, its security is provided by the consensus of proof of work in this network. SLP smart contracts are not audited; But the company Quantstamp (Quantstamp) reviewed the Oxy Infinity game in October 2020 and concluded that this game does not have high or even moderate risk.
SLP token is an in-game digital currency that can be bought and sold in digital currency exchanges. The volume of SLP transactions is one of the best among game digital currencies to earn money.
To sell your SLP token, you can directly transfer it from the Ronin wallet, which is special for this token, to the desired exchange and sell it. If you want to sell your token on a decentralized exchange (DEX), you must first transfer it from Ronin wallet to Metamask wallet. To do this, bridge your SLP token to your Metamask using Ronin Bridge so that SLP tokens can be used in Metamask. Now you can sell your tokens through Metamask on decentralized exchanges.
Conclusion
Playing for money is one of the fields that has expanded the scope of using digital currencies and has brought professional gamers into this field. One of the popular games in this arena is Oxy Infinity, which has managed to attract many audiences. This game uses two currencies, AXS and SLP, in its ecosystem, in addition to non-gaming tokens.
In this article, we talked about the Smooth Love Potion or SLP token and its function, how to obtain and buy and sell it, and we explained that the SLP token is used to cultivate oxys and pay in-game rewards. Players can receive rewards in the form of SLP tokens in Oxy Infinity for completing daily tasks and fighting other players in Arena matches and participating in adventure games. Of course, we also reminded that Oxy Infinity currently does not give rewards for completing daily tasks and the adventure section.
The increasing popularity of the Oxy-Infinity game has made the SLP currency open its way to the real world. Many stores and restaurants in the Philippines now accept the Smooth Love Potion token as a payment method. SLP token can also be bought and sold in digital currency exchanges. Oxy-Infinity players can sell their tokens for real money or other digital currencies on these exchanges.