Smooth Love Potion (SLP): tokenomics, risks and score
The in game reward currency of Axie Infinity, minted by players through gameplay and the clearest example of what happens when a game currency has unlimited supply.
What Smooth Love Potion is, and what it does
This is a gaming or metaverse asset. It exists inside a game or virtual world, where it is used to buy, earn or govern things within that product.
What the SLP token itself does: It captures no protocol revenue. Any value rests on governance rights, on speculation, or on a change that has not happened yet.
Where it runs: Ronin. Mechanism: In game reward token. It has been running since 2020, so roughly 6 years.
The facts
- TICKER
- SLP
- SECTOR
- Gaming and metaverse
- CHAIN
- Ronin
- LAUNCHED
- 2020, so around 6 years of operating history
- MECHANISM
- In game reward token
- MAXIMUM SUPPLY
- No hard cap, minted through gameplay
- VALUE CAPTURE
- None
- UPGRADE CONTROL
- Team controlled
- VESTING
- Complete
- LIQUIDITY BAND
- Micro cap. Thin, often a single venue or pool. Treat the quoted price as indicative only.
How the score breaks down
Each dimension is explained on the directory page, and the reasoning behind it is taught in the Academy research process.
Supply and value capture
High ongoing issuance. New tokens are minted continuously and holders are diluted unless they participate. The token captures no protocol revenue. Any value rests on governance rights, speculation, or future changes that have not happened yet.
The founding team retains control over upgrades or parameters. Ownership is moderately concentrated. A handful of large holders could move the market.
Where it is strong and where it is not
- Has operated for around 6 years and through at least one full bear market
- Audited, with published reports
- Fully open source, so the code can be independently reviewed
- Vesting is complete, so there is no scheduled supply overhang
- Unlimited supply minted continuously through gameplay
- Demand depended entirely on new player growth, which stopped
- Fell more than ninety nine percent from its peak
- The economic design had no mechanism to balance supply against demand
Incident history
No major exploit, collapse or regulatory action on record against this asset.
Our read
The main risk
Unlimited supply minted by players against demand that collapsed. It fell over ninety nine percent from its peak.
Before you buy anything
Check the contract address against the project's own documentation rather than a search result or a screener link, since impersonation tokens with identical names and logos are listed constantly. Check the order book depth before assuming you can exit at the quoted price. And write down what would make you wrong before you buy, not after. The Academy thesis module covers why that single habit protects more capital than any indicator.