Smooth Love Potion (SLP) is an ERC-20 token on the Ethereum blockchain used within the Axie Infinity gaming metaverse. It facilitates the breeding of NFT-based digital pets known as Axies. SLP can be earned by engaging in in-game activities or purchased through various exchanges.
SLP operates on the Ethereum blockchain using smart contracts to enable its functions within the game, specifically for breeding Axies. SLP is earned through in-game activities like battles and is consumed during the breeding process, ensuring a dynamic supply based on game activity. The Ethereum blockchain's Proof of Stake consensus mechanism supports its transactions.
SLP serves as an in-game currency for breeding Axies and participating in player versus player (PvP) battles within Axie Infinity. Beyond the game, it exemplifies applications in blockchain gaming and the creation/trading of NFTs. Additionally, SLP contributes to economic empowerment through “scholarship” programs and can be traded for other cryptocurrencies on decentralized exchanges.
SLP was introduced on December 19, 2019, as part of the Axie Infinity ecosystem by the team led by Trung Nguyen. It was inspired by projects like CryptoKitties and designed to reward Axie Infinity players. A significant development was the introduction of the Ronin Network in 2021 to improve transaction efficiency, and the Katana decentralized exchange facilitates the trading of SLP. SLP has experienced fluctuating market presence, including notable fundraising and market cap changes.