When was SLP coin issued? Learn about the origin of SLP coin in one article

Origin of Smooth Love Potion (SLP) Token

1. Axie Infinity Blockchain Game and SLP Token Introduction

Smooth Love Potion (SLP) is the native utility token of Axie Infinity, a popular NFT blockchain game where players breed, battle, and trade unique digital creatures called Axies. Launched in March 2018, Axie Infinity features a player-owned in-game economy where SLP serves as the primary currency.

2. SLP Token Issuance

SLP was first issued on July 14, 2021 as an ERC-20 token on the Ethereum blockchain. It allowed Axie Infinity players to earn and spend SLP within the game and facilitated transactions on the Axie Marketplace, where players could buy, sell, and breed Axies.

3. Gameplay and SLP Utility

Within Axie Infinity, SLP is primarily obtained by completing daily quests, battling other players in Adventure and Arena modes, and breeding Axies. SLP is used for various in-game activities, including:

• Breeding Axies: Players must spend SLP to breed new Axies, creating unique offspring with combined traits and abilities.
• Upgrading Axies: SLP can be used to upgrade Axies' body parts, enhancing their stats and abilities for battle.
• Purchasing Items: SLP is used to purchase items from the in-game store, such as potions, runes, and cosmetic accessories for Axies.
• Stakeling: SLP can be staked to earn rewards in the form of staked SLP (SLP-S) or Axie Infinity Shards (AXS), the governance token of the Axie Infinity ecosystem.

4. SLP Tokenomics

SLP has a circulating supply of approximately 31 billion tokens. The token's issuance is controlled by a pre-determined emission schedule that gradually decreases over time to maintain its in-game scarcity. SLP can be earned, spent, or exchanged on various cryptocurrency exchanges and decentralized finance (DeFi) platforms.

Conclusion

Smooth Love Potion (SLP) was issued on July 14, 2021, as the native token of the Axie Infinity blockchain game. It plays a crucial role in the game's economy, allowing players to breed, upgrade, and purchase items for their Axies. SLP is a widely traded cryptocurrency and has become an integral part of the Axie Infinity ecosystem.