Moving forward, we’ll first review the basics by answering the question, “What is Smooth Love Potion?” As we review the basics, we’ll also take a closer look at the project behind the SLP crypto – Axie Infinity. Hence, you’ll learn about this popular GameFi venture’s team, community, socials, and more. Next, we’ll focus on the SLP crypto token. As such, we’ll cover this cryptocurrency’s tokenomics and utility and explain how it fits within the Axie Infinity ecosystem. We’ll also do a quick comparison between AXS and SLP. However, since most of you want to make money with altcoins, we’ll primarily look at the $SLP price. As such, we’ll do an overview of the token’s historical price action and use the basics of technical analysis (TA) to determine the asset’s support and resistance levels.
Nonetheless, you’ll get to learn how you can use Moralis Money to determine whether or not SLP is a good buy. Plus, for those of you who might want to get a bag of $SLP, we’ll explain where to find the market to buy this crypto.
What is Smooth Love Potion?
Smooth Love Potion (a.k.a. SLP) is a crypto token that plays a crucial role in the vibrant ecosystem of Axie Infinity. The latter is a blockchain-based online game, which was one of the first Web3 GameFi projects that experienced quite impressive adoption. This Web3 game revolves around the collection, breeding, and battling of fantasy creatures known as “axies.” And that’s exactly where the SLP crypto token enters the scene.
SLP serves as the primary in-game currency within the Axie Infinity universe. For instance, when breeding axies, users need to pay a specific amount of $SLP. The exact amount depends on multiple factors, including how many times the axie has been bred previously.
SLP and Axie Infinity
In Axie Infinity, players can acquire SLP by engaging in battles with their axies and breeding new ones. These activities are at the core of the game’s mechanics and strategy. As such, it’s quite clear that SLP is an integral part of this GameFi experience.
When a player wins a battle, they are rewarded with SLP. On the other hand, when breeding axies, players need a certain amount of SLP crypto to cover the involved fee. However, the value of SLP extends beyond just in-game transactions. After all, the token can be freely traded on various cryptocurrency exchanges (CEXs and DEXs). This allows players to convert their in-game earnings into other cryptocurrencies or real-world money.
This is where the play-to-earn (P2E) model comes to life – it is the method that allows players to generate real income by participating in the game. Moreover, this earning potential was the driving force that made Axie Infinity popular in the first place. While earnings may not be impressive by EU or USA standards, many Asian players managed to earn more than an average wage back in 2021 thanks to this game. That obviously contributed to the token’s popularity and trading activity.
The fluctuating value of SLP, like many other cryptocurrencies, is subject to market forces. Consequently, it doesn’t solely depend on the game’s popularity and asset’s tokenomics but also on the entirety crypto market. Plus, regulatory environments and the status of blockchain-based games are also still evolving. This makes it essential for individuals interested in Axie Infinity and SLP to stay informed about the latest developments and conduct thorough research before participation.
Interested in Axie Infinity?
If you want to earn $SLP, then you’ll need to play Axie Infinity. In that case, we recommend you dive deeper into this GameFi project. A great place to start is the project’s official website. This is also where you can access the ecosystem’s online games:
By scrolling down the above-outlined page, you can watch useful trailers and access the Axie Infinity community. The two places where you can interact and ask questions are the project’s X (formerly Twitter) account and several Discord channels:
However, if you are seriously considering playing Axie Infinity or otherwise investing in the project’s GameFi mechanism, you ought to dive into its whitepaper:
In the project’s whitepaper, you can learn more about the gameplay, $AXS coin, community, team, technology, and more. However, the document doesn’t talk much about the SLP crypto token. In fact, the most that is covered about $SLP is laid out in the “Breeding and $SLP” section. This is where you can learn more about the breed count of axies and how it affects the SLP cost.
Note: To further deepen your ability and confidently answer the question “What is Smooth Love Potion?” make sure to explore the SLP token below.
SLP Crypto Token
The SLP token went live in 2020 on the Ethereum chain. It continues to live on this leading programmable blockchain network following the ERC-20 token standard. However, in 2021, the SLP coin turned into a cross-chain cryptocurrency. The most significant event was its transition to Ronin Network – an Ethereum sidechain focusing on Web3 gaming.
In fact, Sky Mavis, the company behind Axie Infinity, initially created Ronin to cater to its game. So, while Ethereum remains the network to trade SLP tokens, Ronin Network is where all Axie Infinity assets serve their primary purpose.
Before we look at the $SLP price, there are some additional important aspects of the “What is Smooth Love Potion?” question that you need to keep in mind. So, let’s start by looking at the Smooth Love Potion tokenomics!
Smooth Love Potion Tokenomics
SLP tokenomics overview:
- Name: Smooth Love Potion
- Symbol/ticker: SLP or $SLP
- Token type: ERC-20
- Smart contract:
- 0xCC8Fa225D80b9c7D42F96e9570156c65D6cAAa25 (Ethereum)
- 0xa8754b9fa15fc18bb59458815510e40a12cd2014 (Ronin Network)
- Total supply: not capped
- Buy/sell tax: 1%
By this point, you know that SLP’s main use case is to serve as the in-game token for breeding. Now, to prevent overpopulating the Axie Infinity metaverse, strict breeding rules are in place. Each axie NFT can breed up to seven times, and with each successive breeding, the SLP cost escalates. Alongside SLP, a single AXS token is charged per breeding. More details about the breeding rules await you in the Axie Infinity whitepaper.
Given the token’s main utility, SLP has no hard cap supply. Instead, it remains in flux due to continuous generation from in-game activities. However, the supply is reduced when new axies are born through breeding.
All in all, SLP’s availability hinges on Axie Infinity’s in-game dynamics. An expanding user base is expected to boost SLP creation. So, increased player engagement and Axie Infinity in-game competitions result in SLP generation.
The fact that there’s no limit to how many SLP crypto tokens can be minted is also the main reason why Moralis Money’s Advanced Security Score shows 65 out of 100 for the SLP crypto:
Note: To see the Moralis Money Advanced Security Score, you must be on a Starter or Pro plan.
Moralis Money’s Security Score protects users against various pitfalls of crypto investing by giving all coins a score. So, generally, the higher the score, the safer it is to invest in a particular asset. However, depending on your experience as a trader and your appetite for risk, you may choose to trade coins with a lower Security Score rating.
SLP Crypto Price
First, let’s point out that due to the updates and migrations of the SLP token, many charts do not show the entire price history of this asset. However, with some digging, we were able to find one, reaching back to January 2020:
Keep in mind that the above chart uses a logarithmic scale. Still, it clearly indicates the highs and lows of the SLP crypto token so far. As such, you can see that the asset peaked in May 2021 and came close to the same height in July of that same year.
However, following those peaks, the price of $SLP was in a clear downtrend. In fact, the token lost more than 99% of its ATH (all-time high) value during its September 2023 low.
Nonetheless, by looking at the far right-hand side of the above chart, you can see a rather large spike. This is an indication of the SLP’s 100%-plus rally, which took place in late October 2023. This could be a sign that Axie Infinity is finally finished with the bear market and ready for the next bull run. And given that the rest of the crypto marker is showing the same signs, that is the most likely scenario.
But before you get all excited and buy a massive bag of $SLP, remember the information from the previous section. SLP is highly inflationary! You can see that by comparing the asset’s price and market cap charts:
Live SLP Price
Due to the nature of the SLP token, it makes little sense to consider the asset’s historical price data. Instead, it is far more useful to look at the SLP’s live price in combination with the token’s real-time, on-chain metrics. And there’s no better place to do so than the Moralis Money Smooth Love Potion ($SLP) token page.
For instance, if the SLP price is showing signs of reversal or potential continuation patterns, you ought to back that with on-chain metrics (a.k.a. alpha metrics found on each Moralis Money token page). So, when the price finds local support after retracing following a massive run (as the latest SLP 100% increase), and alpha metrics indicate an increase in on-chain momentum, it is likely a good time to buy.
Should You Buy SLP Crypto?
In order to answer the above question, you need to consider a wide range of aspects, including your risk tolerance and current financial situation. Also, make sure to use the above section to determine if you find SLP interesting.
Given the token’s inflationary nature, we don’t find it a suitable long-term HODL material. However, it can be a lucrative play for short-term trades.
So, in case you wish to trade SLP, make sure to use the Moralis Money $SLP token page. As pointed out above, it offers the live SLP crypto token price, including a chart view, as well as the asset’s real-time, on-chain metrics! As such, the token’s Moralis Money page allows you to decide if/when to buy $SLP based on sound on-chain analysis.
To access this insightful page, simply follow the above “$SLP” link or use the interactive widget below.
Where to Buy Smooth Love Potion?
If you decide you wish to get a bag of $SLP, you have several options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
What is Smooth Love Potion? Live SLP Crypto Price & On-Chain Analysis – KeyTakeaways
In today’s article, we covered quite a distance, starting off by answering the question, “What is Smooth Love Potion?” Then, we examined how SLP relates to Axie Infinity and how to access the asset’s live price and real-time, on-chain metrics. Plus, we even explained where to buy $SLP.
If you covered the above sections, here are some key takeaways you’ve learned:
- What is Smooth Love Potion (SLP)? It is the in-game asset for the Axie Infinity Web3 games.
- SLP was initially born on the Ethereum chain but now lives across multiple networks; however, its main home is Ronin.
- $SLP is rather highly inflationary, so investing in this asset requires extra caution.
- To determine if/when to buy $SLP, use Moralis Money’s token page dedicated to that asset. It offers the live SLP price and the token’s invaluable real-time, on-chain metrics.
Whether you buy $SLP or not, do not forget that there are countless other altcoin opportunities. And while you might have lacked proper tools to find tokens before they pump in the past cycles, you can easily make the most of the upcoming bull market with Moralis Money.
Aside from token pages and advanced security scores, which you explored herein, this tool has a lot more to offer. After all, its core feature – Token Explorer – allows you to spot the best altcoin opportunities at any given moment. Using the power of real-time, on-chain metrics, Moralis Money provides you with the best crypto insights! Whether you want to find ERC-20 tokens with potential, crypto under a penny, PRC-20 crypto, or alts across other leading networks, Token Explorer has your back. Level up your crypto trading strategies with this awesome tool today!
