What Is a Smooth Love Potion?

Today, players of the popular NFT-based game Axie Infinity use an ERC-20 token called Smooth Love Potion (SLP) on the Ethereum blockchain. The game was created by a Vietnamese studio, which took its cues from the wildly successful Pokémon and Tamagatchi series of virtual pet games. Axies are virtual pets players in the Axie Infinity universe can breed, sell, raise, trade, and even use in real-time battles. Players can buy, sell, and make money with any Axie they find in the game because each one is an NFT.

The economy of Axie Infinity is based on two different tokens. Players that engage in battle or adventure modes can receive SLP or AXS (Axie Infinity Shards). While each token serves other purposes, they are both vital to your success. The Axie Infinity ecosystem is governed by its token, AXS, which may be cast as a vote or used to contribute to the game’s development. However, you’ll need SLP, the game’s virtual currency, to breed additional pets. A maximum number of each Axie species can be produced before an Axie becomes sterile; this is done to prevent hyperinflation.

Due to its enormous number of daily, monthly, and weekly active users, Axie Infinity has continuously ranked as the top Ethereum-based game. As the game gained popularity, the token had a significant upswing in Q2 and Q3 of 2021. The coin’s real-time trading volumes surged dramatically, particularly in Southeast Asian countries like the Philippines. The SLP/PHP exchange rate was the most watched cryptocurrency metric for a few months.

Since its ATH in July 2021, the value of the SLP coin has dropped significantly. However, the game’s revenue potential has allowed it to maintain a large user base. Thus the SLP PHP conversion rate is still the most crucial live rate among all play-to-earn games.

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Who made the first Smooth Love Potion?

The more pertinent inquiry is this: who established Axie Infinity? Trung Nguyen, CEO of the business responsible for the game, used to work as a software developer in the United States but quit to devote more time to the project.

Nguyen claims that his frustration with the fact that so many gamers don’t own valuable goods in popular games drove him to investigate blockchain’s potential in the industry. He told Blockchain Gamer that he now had the chance to make his “dream game” thanks to the Ethereum platform.

According to Nguyen, the breeding system in SLP is meant to be intuitive for players of other collecting games like CryptoKitties.

Where Does Smooth Love Potion Stand Out?

In-game currencies don’t often become listed on exchanges as SLP has. This is analogous to Nintendo assigning real-world worth to the coins Mario collects in Super Mario games.

According to Nguyen, Axies are distinct from other non-fungible tokens because they require special care to mature into full maturity.

The fact that SLP is one of the few in-game tokens to be listed by Binance in its Innovation Zone is also noteworthy. This trading section is for tokens “that are anticipated to have higher volatility and represent a larger risk than other tokens,” as described by the exchange.

How Many Smooth Love Potion (SLP) Coins Are Out There?

Tokenomics suggests that the total amount of SLP in circulation is somewhat indeterminate. This is because these tokens are burned every time new Axies are bred. However, there is no limit on the total number of SLP tokens that will ever be issued, and the current circulating supply is in the tens of millions.

With more people competing in Axie Infinity, more SLP will be generated and released into the environment as more games are won and lost.

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On May 1, 2021, the price of Smooth Love Potion surged to an all-time high (ATH) of $0.3642 before crashing by nearly 75%. In the middle of July, prices reached an all-time high of $0.3462. The cost of Smooth Love Potion has been steadily declining for some time now.

How does Smooth Love Potion keep its network safe?

Given that it is an ERC-20 token, Smooth Love Potion relies on Ethereum’s public blockchain to function.

Where can you get Smooth Love Potion (SLP)?

When SLP first appeared on the scene, it wasn’t functioning as a cryptocurrency with a dynamic value. However, things began to change when an SLP liquidity pool was established on Uniswap. Those at Binance’s Innovation Zone have announced their enthusiasm for the Pokémon-style game.

SLP/ETH, SLP/USDT, and SLP/BUSD are some of the trading pairings available. However, the exchange rate of coingecko slp to php is of particular significance in the Philippines, as are the rates of SLP to AUD and EUR in Australia and Europe, respectively.

Because of this, buying SLP with fiat currency could be a little tricky. Therefore, you might have to first change your dollars, pounds, or euros into a popular cryptocurrency like Ethereum.

How do you buy a Smooth Love Potion (SLM)?

Currently, SLM is available on major exchanges, including Binance and Uniswap’s liquidity pool platform, but not on all of them just yet. In addition to these two, below is a list of more reliable marketplaces where you may purchase SLM.

  • Hoo Market
  • CoinEx
  • Bilaxy Market

Fiat currency cannot be used to purchase SLM directly. To acquire SLM, you must first convert your U.S. dollars, British pounds, or Euros into one of the many popular crypto coin exchange pairings, such as USDT, USDC, BUSD, ETH, BTC, and many others.

What’s the Point of Swapping Out Your SLP for PHP on Binance P2P?

There are several advantages to using Binance P2P for SLP to PHP trading and conversion. You’ll end up saving cash, though.

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1.  Many Reduced Costs of Making a Purchase

You won’t have to shell out a ton of money in transaction fees while using Binance P2P. Binance will not charge takers, but creators will be subject to a bit of cost for each order they fulfill.

2.  Customize Your Trading Experience

You can make all the trading decisions, including how and with whom to sell your cryptocurrency. Binance P2P supports over 300 different payment methods and over 150 different local currencies.

3.  It’s safe to use the platform

Regarding the security of its platform, Binance P2P gives investors peace of mind. Employing an external escrow service by the company is one such measure. Once a buyer is found, the cryptocurrency is transferred into the account only temporarily until the buyer verifies with Binance that the money has been deposited into their bank account.

4.  You can set the price

The best feature they offer is the ability to set your trading price for cryptocurrency on P2P exchanges. Binance P2P users can publish their adverts to determine their pricing and buy and sell assets.

Conclusion:

Currency exchange has existed since the beginning of time. Cryptocurrency has developed and become much more accessible to a broader range of people. Amazingly, today’s trade caters to various hobbies and pastimes, including video gaming. If you’re an Axie Infinity player or manager looking for additional revenue streams, consider trading coingecko slp to php on Binance P2P. However, you should always consider the various risks and weed out the cryptocurrency scams associated with such an endeavor. After all, this platform is populated by actual human beings.

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