Introduction to Smooth Love Potion (SLP)
Smooth Love Potion (SLP) is the primary utility token within the Axie Infinity blockchain game ecosystem. It serves as both an in-game reward and a consumable, playing a central role in Axie Infinity’s economic model. Players earn SLP by participating in in-game activities and use it to breed new digital pets called Axies.
SLP’s Issuance Mechanism and Unlimited Supply
Unlike many cryptocurrencies with a fixed maximum supply, SLP has an infinite maximum supply with no hard cap. This means that, in theory, an infinite number of SLP can be generated. It is primarily issued through players completing specific tasks and activities within the Axie Infinity game:
- Arena Battles (PvP): Players can earn SLP rewards by battling and defeating other players in the Arena.
- Daily Tasks and Check-ins: Completing daily check-ins and specific tasks also earns SLP.
This “play-to-earn” model directly links the supply of SLP to game activity and player engagement.
SLP Burn Mechanism and Inflation Management
To counterbalance the potential inflationary risks posed by an unlimited supply, SLP incorporates a key burning mechanism. The primary use of SLP is to breed new Axie pets. Each Axie breeding requires the consumption of a certain amount of SLP, and the amount of SLP required increases as the number of times the same Axie is bred increases(each Axie can breed up to 7 times). This burning mechanism is designed to offset the supply growth resulting from unlimited issuance by creating sustained demand for SLP, thereby managing the token’s economic balance to a certain extent.
Circulating Supply and Total Supply
As of July 2026, both the circulating supply and total supply of Smooth Love Potion (SLP) stood at approximately 36.34 billion. Due to its unlimited supply and ongoing issuance and burn mechanisms, these figures fluctuate continuously as gameplay progresses.The total supply generally aligns with the circulating supply, as newly generated SLP immediately enters circulation.
Historical Prices and Current Market Performance
SLP has experienced significant price volatility. Its all-time high (ATH) was reached between approximately $0.40 and $0.42 in May and July 2021. However, as market conditions changed and the game’s economic model was adjusted, the price of SLP subsequently corrected.As of July 2026, SLP’s current price ranges from approximately $0.0005 to $0.00054, with a market capitalization of roughly $18 million to $20 million.
It is widely believed in the market that SLP’s high liquidity is one of the main reasons why its price has struggled to reach higher levels again. If the price of SLP were to reach $1, its market capitalization would reach tens of billions of dollars, which is a massive challenge for a gaming token.
Where to Trade SLP
SLP can be traded on multiple cryptocurrency exchanges that support the token. Users can buy, sell, or exchange SLP on these platforms. Additionally, SLP can be stored in self-custodial wallets that support ERC-20 tokens, such as MetaMask.
