What is the issue volume of SLP coins? One article to introduce the application scenarios of SLP coins

SLPs, primarily earned through gameplay in Axie Infinity, serve as versatile in-game currency, facilitating breeding, crafting, and governance.

Oct 24, 2024 at 07:31 pm

SLP Coin Issuance Volume

SLP (Smooth Love Potion) is a utility token used in the Axie Infinity game. It is primarily earned by playing the game and can be used to breed new Axies, purchase items in the marketplace, or participate in governance.

The initial issuance of SLP was 270 million tokens, and its maximum supply is capped at 270 million tokens. The tokenomics of SLP are designed to ensure that the supply of the token remains stable over time.

SLP Coin Use Cases

SLP coins have various use cases within the Axie Infinity ecosystem:

1. Breeding Axies: SLP is required to breed new Axies, which are the main characters used in the game. The more SLP used in breeding, the higher the chance of getting a rare or desirable Axie.
2. Crafting and Enhancing: SLP can also be used to craft and enhance items, including weapons, armor, and other in-game items. This allows players to improve their Axies' abilities and performance.
3. Marketplace Purchases: SLP can be used as a currency to purchase various items from the Axie Infinity marketplace, including Axies, items, and land.
4. Governance: Holders of SLP can earn governance tokens known as AXS by staking their SLP. AXS grants voting rights and the ability to participate in decision-making processes within the Axie Infinity ecosystem.
5. External Use Cases: SLP is also used in external projects and integrations. For example, it is used in a decentralized exchange to facilitate trading of other game-related tokens.

Conclusion

SLP coins are an integral part of the Axie Infinity ecosystem, enabling players to breed, craft, enhance, and participate in various activities within the game. The use cases of SLP continue to expand, adding more value and utility to the token.