Smooth Love Potion protocol and use cases
Cryptocurrency and blockchain technology have revolutionized tech with their multiple benefits. More interestingly, it has allowed people to explore new ways to make money. So, imagine making money from what you love. That is a way to live your best life.
Smooth Love Potion (SLP) is a play-to-earn cryptocurrency asset. Powered by the Axie Infinity ecosystem, it is one of the ways you can make money by engaging in activities that interest you. For instance, adult content, gaming, and NFTs are areas where SLP integration plays a key role. If you love GameFi (gaming and decentralized finance), you would be familiar with the Axie infinity game. Smooth Love Potion is used in the Axie Infinity ecosystem to breed Axies.
What Is Smooth Love Potion?
Smooth Love Potion (SLP) is an ERC-20 gaming token popular within the Axie infinity ecosystem. With a maximum token supply of 43.32 billion, it powers the cash reward system for gamers in the Axie Infinity ecosystem.
Axies are pets on the Axie platform bred with SLP, and you can buy/sell them on its NFT marketplace. As a crypto asset, you can trade SLP on exchanges like Binance, FTX, KuCoin, Gate.io, etc.
SLP hodlers get incentives to hold their tokens due to the scarcity of Axie Infinity items, and they can cash out by selling at high prices on secondary markets. Most SLP holders prefer to hold rather than sell due to the high demand. Holders of SLP also get bonuses or discounts purchasing NFTs with SLP rather than using SOL, ETH, and BNB.
What is Axie Infinity?
Smooth Love Potion (SLP) plays an essential role in the Axie Infinity gaming platform. However, what is Axie Infinity? Axie Infinity is an NFT gaming platform where gamers battle each other with unique characters called Axies.
Axie Infinity is one of the most popular NFT gaming platforms built on the Ethereum blockchain. To become a participant on the Axie Infinity platform, you’ll need to assemble a team of Axies to battle with other gamers.
Axies are available on many NFT marketplaces, including Opensea, and you can borrow from other gamers via the scholarship platform.
Use cases of Smooth Love Potion
SLP is presently ranked #146 on Coinmarketcap with a market cap of over $18 million, and you can trade it on major global exchanges. SLP can purchase things outside the Axie infinity ecosystem as a tradable asset. Hence, it is essential to explore the benefits of SLP.
Buying and selling Axies: SLP is the native token of the Axie infinity game and is available on major crypto exchanges. You can use it to buy and sell Axies. As an ERC-20 token, you can use ETH to purchase Axies. However, the prices are much higher when purchased with SLP.
Trading on Decentralized Exchange: For crypto enthusiasts that love trading on decentralized exchanges, you can make money by speculating on the price of tokens. SLP is an ERC-20 token and is compatible with most decentralized exchanges.
Payment: SLP is a cryptocurrency asset you can use to purchase goods and services like other crypto tokens like Ethereum and Bitcoin. If you love HODLing cryptocurrency assets, then SLP is a good buy as it is limited in supply and has the potential to eclipse Ethereum and Bitcoin soon.
Axie infinity is one of the most in-demand NFT gaming platforms in the GameFi space; this, by extension, makes SLP valuable.
For anyone researching potential crypto assets, the Smooth Love Potion (SLP) is one to look forward to adding to your portfolio; this is not classified as financial advice but rather the author's opinion so ensure you DYOR (Do your Research).