What Is Smooth Love Portion, and What Can You Do With It?

What Is Smooth Love Portion, and What Can You Do With It?

You need a magical Potion to bring cute digital creatures to life called Axie.

How cool is that!

You need Smooth Love Potion (SLP) to create unique Axies.

Pejman Zwin

Content

Sky Mavis created this addicting game in early 2018, but the token became available in different exchanges because of the increasing demand volume for this magical Potion.

You can now invest in them on crypto exchanges or liquidity pools.

Introduction axe infinity

You have to win Axie Infinity battles to get SLP tokens and use them as in-game tokens or outside the game.

It’s that simple, But there’s more.

If you want to understand how this in-game token (SLP) works, you should first know Axie Infinity.

So let’s go.

What is Axie Infinity?

What is Axie Infinity?

Axie Infinity is a blockchain game on Ethereum, and it’s a game of battling pets.

These pets or creatures are called Axie, collected, bred, and raised for fighting battles.

You need to buy 3 Axies (as NFT) to start playing the Axie Infinity game for entrance.

Axie infinity

After buying 3 Axies, you can play Adventure mode (PvE), in which you battle different creatures as NPCs, or you can earn SLP tokens while playing play PvP mode (player vs. player) and battle with others in the Arena.

The cost of each Axie depends on its abilities and body parts.

As of now, the cheapest Axie with minimum abilities is around $100.

So you need to pay something around $300 to buy 3 Axie pets to start participating in the game.

After that, win battles to earn SLP, use SLP to create new Axies, or claim your SLP to make profits.

It is how it generally works.

The good news is that Axie Infinity has developed a scholarship system to support those who can’t afford 3 Axies for entrance.

The ecosystem lets you borrow Axie pets and earn a cut of SLP tokens that you make after each win.

This scholarship system has attracted a lot of players, especially from poorer countries like the Philippines and Venezuela.

Based on the reports, 35% of Axie Infinity’s active daily participation belongs to players from the Philippines.

In May 2021, reports said that a player had managed to buy two properties from his Axie Infinity earnings.

It is a massive opportunity for people in developing countries to earn a cut from NFT games as it is possible to sell the NFTs one gains.

The COVID pandemic has raised a lot of economic issues for poorer countries. Therefore, it can be an excellent chance to make a good living.

Now, let’s learn more about SLP and Axie Infinity.

What are some tokens inside the Axie Infinity ecosystem?

There are three primary tokens inside Axie infinity’s ecosystem. Wrapped Ethereum (WETH), AXS, and SLP.

AXS is Axie Infinity’s governance token which is an ERC-20 token.

With AXS, you can vote and engage in Axie Infinity’s governance, earn profits by staking AXS, buy different items and lands or breed new Axies along with SLP tokens in the Axie Infinity Universe.

On the other hand, SLP is a reward token for whatever you do on Axie Infinity which you can pay to create new Axie kids and expand your Axie army.

In addition, you can connect your Axie Infinity account to an Ethereum wallet or a Ronin wallet, an Ethereum sidechain mainly built for the Axie Infinity community.

Sky Mavis company is the company that is controlling Ronin, and they are also the creator of the Axie Infinity game.

Ronin itself has created the Ronin network and RON, its native token.

So you can buy SLP from exchanges and transfer them to your Ronin wallet using the Ronin network (RON).

Further reading

What is Smooth Love Potion (SLP)?

What is Smooth Love Potion (SLP)?

SLP, abbreviated for Smooth Love Potion, is a popular token among metaverse players.

It’s on Ethereum’s ERC-20 standard.

You can play Adventure mode, also known as Player vs. Environment (PvE), Arena mode, also known as Player vs. Player (PvP), or do daily quests to earn SLP.

What is smooth love

If you wish to create brand new warriors as Axies, you should give away adequate SLP tokens and 4 AXS.

Each Axie is limited to breed seven times.

Each time you make a new Axies, the number of tokens to pay increases accordingly.

Once you pay SLP for creating a new Axies, those SLP tokens will be burned forever.

There’s an unlimited supply of SLP tokens, but the number of tokens you make in PvE is limited because it is relatively easy compared to Arena; there should be limitations for in-game earnings to keep it on demand.

It creates a supply and demand ecosystem for AXS and SLP tokens, along with lots of fun playing the game, raising your Axie pets, and making digital money.

If you want to add some warriors to your Axie army, you need to pay SLP along with AXS, and its cost varies depending on the Parent’s genes and the number of times they have bred before.

Based on their abilities Axies are classified into nine categories.

Each class has specific strengths and weaknesses, which creates a loop of competition as each class has an advantage over another during combat.

For example, a Plant can beat Bird, Bird can defeat Mech, and Mech reversibly beats Plant.

Keep reading; the exciting part is yet to come!

What can you do with the Smooth Love Potion (SLP) token?

Although SLP didn’t have too much volatility like other cryptocurrencies, since UniSwap and Binance decided to support SLP and its liquidity pools, this magical token absorbed a lot of demand among investors and Axie players.

As a result, you can buy Smooth Love Potion tokens on many crypto exchanges such as FTX and Gate.io.

You can Swap your in-game tokens with each other, Stake SLP in the Treasury, or liquidity pools on UniSwap.

It is also possible to breed your brand new cute adorable Axies and raise them.

It is also good to say that Axie should be raised in a certain manner to become an adult.

After receiving enough tokens, you can claim them and take your cut.

Ronin also has an Ethereum bridge which you can send your SLP tokens to your Ethereum wallet as you wish.

As the number of Axie Infinity players grows, the ecosystem grows as more battles occur, thus creating more SLP supply and demand in the future.

We will read about one of the most exciting things about SLP for the next topic.

Further reading

How can you earn SLP tokens on Axie Infinity?

How can you earn SLP tokens on Axie Infinity?

You can play Adventure mode or Arena mode to earn SLP tokens.

But if you want to earn more, you’d better complete daily quests!

How can you earn SLP tokens on Axie Infinity

  • Arena mode (PvP) is a player versus player battle in which each player should bring 3 Axies to competition with competitors. In Arena mode, you have a ranking as you win and lose PvP battles. With every match you win, your ranking improves, and your Matchmaking Rating (MMR) meets higher-level players for you to battle. Earning SLP in PvP is unlimited, but every match needs one energy. If your energy runs out, you will not gain any reward. Your energy resets every day at 8 am, but if you want more energy, you should collect more Axies. Less than 9 Axies equals 20 energies, 10 to 19 Axies equals 40 energies, 20+ Axies equals 60 energies.
  • Adventure mode (PvE) is Axies Infinity’s Adventure game in which you quest to different territories to defeat magical creatures, have fun and earn SLP. The point is that you don’t need the energy to play PvE, but the number of SLP tokens you can earn each day in PvE is limited to 50 SLP.
  • Daily quests are another way to earn SLP through playing. But this is a bit more challenging as it requires specific PvP and PvE games to earn 25+ SLP. For example, you need to win 5 PvP matches and pass 10 PvE levels to grasp the daily check-in and earn extra SLP.

Is the SLP coin a good investment?

SLP is a token that is nearly 99% far from its all-time high.

If someone bought $100 worth of SLP at the highest price, by this day, he would only have $1!

But on the other hand, the Axie Infinity game is still developing, and the SLP token is necessary for this game.

Because of this matter, considering SLP, a dead token is undoubtedly wrong.

One day, it may recover itself and bring a lot of profit for its owners and Axie Infinity players.

Therefore be careful buying this token and don’t invest an amount of money you can not afford to lose on this token.

However, having some SLP in your portfolio doesn’t hurt.

How much is SLP coin worth?

Smooth Love Potion (SLP) is being traded at around $0.006 with a daily volume of $78,260,230. 5.38 billion SLP tokens are in circulation, with a circulating market cap of $30,647,000.

SLP holds an all-time high of $0.4191, according to Coinmarketcap.

You can have access to SLP’s live chart on the livecoinwatch website, also you can also check other cryptocurrency’s prices on our website.

Finally, in the next part, you can read all about SLP technical analysis.

What is SLP’s technical analysis?

SLP started its journey on Binance as it was listed on Binance’s Innovation Zone with a value of near $0.1.

After listing, SLP absorbed huge attraction and saw enormous price changes.

SLP continued its uptrend and reached an all-time high of $0.4191 on the first day of May 2021.

The demand for SLP tokens for $0.42 decreased, and the price started a downtrend from $0.42 to $0.005 – $0.006.

You can have a look at the technical analysis chart.

Technical analysis chart

Based on Elliot Wave Theory, you can see that the chart is following a double three correction pattern.

It is understandable from the chart that the W wave and the X wave are accurate.

There are two possible predictions for the Y wave: the price could follow a flat or zigzag pattern.

A flat pattern is more probable if the market recovers from this fearful situation.

Knowing that price will rise and break the critical resistance line, reaching approximately $0.025 – $0.035.

After a couple of days, the price will go down to about $0.0065.

The other scenario is that the market situation remains the same as now.

In that situation which is more likely to happen, I am expecting a zigzag pattern.

In a zigzag pattern, the price will grow up to $0.01; it won’t break the critical resistance line, and it will fall from that point to a zone that I call the “end of wave C zone,” which is $0.0014 – $0.0029.

The breakout of SLP price will happen if the price breaks the 50 SMA line, the 100 SMA line, and the critical resistance line.

If the price validly crosses these three lines, you can surely expect higher targets.

The exciting fact about SLP is that although it is in a downtrend, it keeps recovering its price after each heavy plunge.

As you can see in the chart, SLP recovered its worth every time between 38% and 50%, which is vital to know when you want to trade this token.

If you are not familiar with technical analysis, In simple Engish, you should expect a price rise in the short term.

If the price growth is over 50%, you can expect higher targets.

Does SLP coin have a future?

In-game tokens and items are going through significant changes thanks to blockchain technology.

For example, NFT based game Axie Infinity with its in-game token, SLP, has attracted a lot of attention and reached an approximate 300 million dollar market cap.

There’s a considerable demand for play-to-earn games with practical and engaging tokens like SLP, which is on the Ethereum blockchain, has an unlimited supply of tokens, and is highly deflationary because of its burn mechanism.

The future of gaming can be intensely involved with blockchains, and gameFi tokens can be practical across different platforms.

In addition, SLP is in its support zone at $0.017 and shows a price divergence in the MACD indicator.

If the price holds above $0.02, SLP could see higher values in the coming months.

It suggests that investing in GameFi tokens can be a good choice.

But due to Russia and Ukraine’s recent conflicts and different issues caused by war, all markets, especially the crypto market, are highly fluctuating; thus, you should consider risk management while investing or trading.

Where can I buy the SLP token?

If you want to buy SLP to upgrade your Axie or If you’re going to buy it for investing purposes.

There are multiple ways to buy this token, and I will explain the easiest.

The first way is using the Ronin network. Which is created by Sky Mavis. Here are three simple steps to buy this token:

  • Create a wallet using Ronin wallet.
  • Open the app and select “Purchase assets on Ronin.”
  • Select the Ronin SLP option, and you can directly buy SLP using your credit card.

The second way is to buy it in high-volume exchanges.

Luckily due to the high demand for SLP, it is listed on every cryptocurrency exchange that you might know, such as Binance, FTX, Gate.io, Bybit, Bitstamp, Poloniex, and many more.

So here are the steps to buy SLP on Binance:

  • Sign up for the Binance app
  • Deposit money using your credit card
  • Exchange your cash for USDT or BUSD
  • Find the SLP/USDT or SLP/BUSD pair using the search bar
  • Using the trading window, you can buy or sell SLP

Caution: Please consider transferring your crypto assets to your wallet. Exchanges are not a safe place to keep your assets.

The third way to buy SLP is to use Uniswap.

Here are the steps to do so:

  • Install the Trust wallet app.
  • Create an account or import your current account.
  • Select ETH, tap “Buy,” and enter the number of dollars you wish to pay.
  • Enter your card information and checkmark all of the statements.
  • Verify your billing information and get a receipt for your transaction.
  • Enter the verification code that the Trust wallet app sent to your email.
  • To buy SLP, you must connect your wallet to the Uniswap exchange. So click on DApps and search for “Uniswap.”
  • Click the “Connect” button.
  • Search for “SLP” and select it. Then you must agree to the Terms, and now you can easily convert your ETH to SLP.
  • Remember to disconnect your wallet before you leave.

How to buy SLP using Katana?

Katana, a decentralized exchange founded by Kristjan Vilosius, Hannes Kert, and Priit Kaasik, also known as Ronin Dex, will allow you to easily swap between different assets that you use in the ecosystem of Axie Infinity.

Katana swap only supports Ronin wallet; therefore, you need a Ronin wallet if you want to use this platform.

You can easily connect your wallet to the platform by clicking on “connect Ronin wallet,” After that, you can see that only five tokens are tradeable in Katana, USDC, RON, SLP AXS, and WETH.

The easiest way to buy SLP is to buy some USDC because it is available on most exchanges.

Then using katana swap, you can change your USDCs to SLPs.

Further reading
Frequently Asked Questions about SLP

Frequently Asked Questions about SLP

How many SLP coins are there?

At the moment, 5.38 billion SLP tokens are in circulation with an infinity supply because the SLP token is a reward token in the Axie Infinity game. In plain English, players’ activity in the game causes the creation of an SLP token.

Will the SLP price go up in 2022?

Looking at the chart of Smooth Love Potion (SLP) and the technical analysis, it makes it hard to consider that SLP will recover its value and gets close to its all-time high. But let us keep our feet on the ground and hope for a good profit within reach. If you look at the analysis, SLP can hit $0.01 soon. So the answer is yes.

If you are looking for a live crypto exchange rate, you can check SafeTrade’s converter tool.

Why is the SLP value going down?

Dealing with SLP’s decreasing value is one of the significant problems for the developer team. Most players prefer to sell their SLP instead of using it in the game to upgrade their Axie, causing an inflation effect on the token. This issue caused SLP to lose 99% of its value. What was one day tradable at $0.3 is now available for only $0.06! But at the end of the tunnel, there is always a light, and hopefully, the Axie Infinity game developers will find a solution for this matter sooner or later.

Is SLP a metaverse coin?

Smooth Love Potion (SLP) is an in-game token for the Axie Infinity game. Axie Infinity is a metaverse game; consequently, SLP is also a metaverse coin.

How much SLP can you earn in a day?

Earning money while playing a game is undoubtedly a fascinating feature. In the Axie Infinity game, you can earn SLP tokens by playing Adventure mode (PvE), Arena mode (PvP), or completing daily quests. You can earn up to 150 SLP tokens in a day. To be precise, 100 tokens by playing Adventure or Arena mode and another 50 tokens by completing daily quests.

Why is my SLP locked?

SLP token is claimable every 14 days. If you wish to claim your tokens, make sure you connect your Ronin wallet, and after that, you can claim your SLP easily. If you encounter the error that says you can not claim your SLP, you need to be patient until your tokens are ready for claiming.

Thanks for reading!

Stay tuned for more crypto content and price analysis.

Further reading