TL;DR

Smooth Love Potion (SLP) is an ERC-20 game token in the popular NFT game, namely Axie Infinity. This token has an unlimited supply and is the main source of income for Axie Infinity gamers. Within the Axie Infinity ecosystem, players can use SLP to raise digital pets called Axie. Then, you can sell them on the marketplace as NFTs to other players. SLP can also be traded on crypto exchanges such as Binance.

To earn SLP, players can complete daily quests, battle other players in the Arena (PvP), or fight in Adventure mode (PvE). There is a limited amount of SLP that players can obtain each day and the SLP used for farming will be burned after a new Axie is created.


Introduction

Amidst the NFT craze, blockchain technology has opened up entirely new opportunities. Many companies are creating their metaverse games on the blockchain and most of them allow players to earn money while playing. One of them is Axie Infinity which has experienced growth in popularity since 2018.

Axie Infinity provides rewards consisting of its own ERC-20 token, namely Smooth Love Potion (SLP). Users can buy and sell SLP tokens on the crypto market as cryptocurrency. SLP can be used in-game to farm new Axie that can be traded as NFTs on the Axie Infinity marketplace.



What is Axie Infinity?

Axie Infinity is a play-to-earn NFT game where players battle other players using unique game characters called Axie. You can think of Axie as a Pokémon. Each has a different class, body part, and status. Axie is a non-fungible token (NFT) that can be stored in an Ethereum wallet or Ronin Wallet.

The Axie Infinity ecosystem is built on the Ethereum blockchain. To play this game, you need to assemble a team containing Axie. You can buy Axie on the marketplace or borrow from other players in the scholarship program. You can also farm new Axie using Smooth Love Potion (SLP) tokens. SLP tokens can be earned by playing Axie Infinity and top ranked players are also rewarded with AXS tokens. Additionally, AXS owners can participate in the governance of the Axie Infinity ecosystem.


What is Smooth Love Potion (SLP) and how does it work?

As mentioned, Smooth Love Potion (SLP) is the native cryptocurrency of the Axie Infinity game. SLP, previously known as “Small Love Potion”, is an ERC-20 gaming token with an unlimited supply. As of November 2021, SLP's market capitalization reached $197 million USD with a circulating supply of over 3 billion.

SLP can be obtained by completing daily quests or doing battles or adventures in the game. After earning a certain amount of SLP coins, gamers can start farming unique Axie. The cost of raising livestock for each Axie is different, because it depends on the number of existing Axie livestock (its parents). Axie can breed each a maximum of 7 times. The higher the number of livestock, the more SLP is required.

SLP is an altcoin that has a burning mechanism. After each Axie livestock, the SLP tokens used will be burned forever. Since players can only farm a limited amount of SLP in-game each day, demand for these tokens is expected to grow as players try to take the lead in the farming game. SLP prices vary according to the strength of supply and demand. SLP reached an all-time high of $0.41 in July 2021.

In the Axie Infinity metaverse, SLP becomes more than just a game currency for breeding new digital pets. SLP is also a reward token for players when they reach new levels or win battles with their Axie. On the other hand, owners can speculate on the price of SLP and trade it on crypto exchanges such as Binance. SLP is also available in Uniswap's liquidity pool. SLP is now part of the play-to-earn movement that allows players to generate income by playing Axie Infinity.


How to get SLP on Axie Infinity?

SLP can be earned by completing daily quests, fighting players in Arena matches (PvP), or fighting monsters in Adventure mode (PvE).

1. Completing daily quests

As of November 2021, daily quests provide an additional 25 SLP to players who check-in daily, complete 10 adventure mode levels, and win 5 arena matches.


2. Fight in the Arena (PvP)

Arena (PvP) is the main source of SLP rewards in this game. The PvP Arena pits players against each other based on their rank (MMR). Each Arena match will use one energy and each win will provide an SLP reward according to the player's MMR. The higher your rank, the more SLP you earn for each win. Note that you need MMR above 800 to get the SLP reward.


If energy runs out, players can still play PvP to increase MMR, but will not get SLP rewards. You can see how much energy you have from the game's main menu at the top left of the screen. The amount of energy you have depends on the number of Axie you have:

  • From 3 to 9 Axie: 20 energy.

  • From 10 to 19 Axie: 40 energy.

  • 20 Axie or more: 60 energy.


3. Fight in Adventure Mode (PvE)

Adventure is a single player mode in this game. This mode consists of 36 levels with increasing difficulty and SLP rewards. You can earn a maximum of 50 SLP every day from adventures. You don't need energy to start in adventure mode. You will only need it if you want to gain experience points for Axie.

Compared to PvP, PvE requires less time and effort to farm SLP. However, you can only receive the SLP reward once for each adventure level. You can play the same level again to fulfill the daily SLP reward requirement, but you will not receive any additional SLP rewards. To get more SLP, you can also defeat bosses at certain levels to get a one-time SLP reward.


How to claim SLP from Axie Infinity to Ronin Wallet?

After generating SLP from the game, you will be able to claim it manually every 14 days.

1. Log in to your Axie Infinity account, then connect your Ronin Wallet. Click [Claim Tokens] from the menu to see the amount of SLP you can claim and when you will be able to do so. Then, click [Claim SLP] to transfer SLP to your Ronin Wallet.

2. Return to the Axie Infinity account dashboard, then ensure that Ronin Wallet is connected. Click [Claim Tokens] - [Claim SLP] (Claim SLP). You will see the claimed SLP in Ronin Wallet.


3. If you want to sell SLP, you can transfer it to MetaMask or another Ethereum wallet using Ronin Bridge. Alternatively, you can send SLP directly to your Binance Roni Wallet via the RON network. This action will save you money as you can avoid paying ether (ETH) gas fees.

Note that you can also trade SLP for other cryptocurrencies using the decentralized exchange Katana. At the time of writing this article, the swap function supports AXS, WETH, USDC, and SLP.


How to buy SLP on Binance?

To farm more Axie, you may need to earn more SLP tokens. Apart from earning by playing Axie Infinity, you can also buy SLP from crypto exchanges like Binance. Then, you can transfer them to Ronin Wallet via the Ronin network (RON).

1. Log in to your Binance account, then go to [Trading]. Select [Classic] or [Advanced] trading mode to start. In this tutorial, we will choose [Classic].

2. Next, type “SLP” in the search bar to see the list of SLP trading pairs available on Binance. We will use SLP/BUSD as an example.


3. In [Spot], select the order type and enter the amount you want to purchase. Click [Buy SLP] to place an order, then you will see the purchased SLP in Spot Wallet. From there, you can select [Withdraw] to transfer it to an external wallet.



Closing

Axie Infinity is one of the most popular DeFi projects at the moment. As a game token in a play-to-earn blockchain game, SLP offers players a simple and interactive way to generate additional income. In fact, SLP rewards have enabled many communities in countries like the Philippines to increase their fiat income amidst the COVID-19 economic crisis.