Axie Infinity has become very popular since its launch in 2018. It now has more than 2 million daily users and its decentralized exchange, Katana, has a market value of $5.5 billion.
As of July 13, 2021, the Smooth Love Potion token (SLP) is down almost 93% from its all-time high of $0.39 on July 13, 2021. When prices go up so high, this is why. It will be more difficult to get a lot of SLP’s shows if the game removes them.
Players and guilds will then pay more attention to their strategic advantages, and the price of the Axies will rise because the cost of breeding would also rise. This is because the price of SLP could rise, but the cost of breeding would still rise.
If you look at the numbers, they say SLP’s emissions are a lot more than four times the number of tokens it burns. This has caused its price to drop to less than one cent in just seven days. With that said, though, the Axie Infinity team is working to fix this problem by making in-game changes that will take effect today, with changes to Season 20 beginning today.
RON, the token for Axie Infinity’s blockchain, has gone up in value since it said it was going to rebalance its economy. It has risen by almost 24% in the last 24 hours. Since the start of the season, SLP has risen by almost 24%.
SLP Benefits and AXS Rewards
When Axie Infinity starts giving out SLPs on February 9, users who play Adventure Mode will no longer get them, and they won’t get them if they finish the Daily Quest. By not using these token issuance methods, the team reduces the number of SLPs each day by about 175 million SLPs.
It’s estimated that these two game mechanisms are responsible for over 84 percent of the game’s SLPs. Players who finish their daily objectives make up around 14% of the total.
As gamers and breeders wait for the debut of a new game called Origins. Roughly, each day produces 250 million SLPs, but only about 40 million are utilized to breed Axies in the game.
By removing several of Axie Infinity’s daily SLP incentives, the team hopes to refocus players on the competitive nature of the game. Consequently, the team boosted the prizes for ranking, allowing the top 300,000 players to obtain AXS instead of only the top 1,000.
The team aims to award gamers with 117,676 AXS, which is worth over $7 million at the current AXS price. The difficulty of staking, farming, and mining.
The sudden drop in SLP emissions isn’t just a shock to the system, but also to the people who work in it. Many have been saying the same thing for months. Still, it isn’t clear whether or not these changes will be long-term for economic growth. The players have made their decisions.
Economic Work Changes
Aside from economic and symbolic adjustments, the team is working to improve overall communication. The Axie Infinity team could see the community was concerned about the lack of openness and the slow resolution of the economic issues.
On January 14, they asked the community for suggestions on how to keep the economy balanced and deal with the anticipated changes.
In response, gamers, investors, and content creators have taken to Twitter to talk about what might happen with economic balances. Some are still unsure, but hopeful, about how it might affect DAUs.
Making Play-to-Earn P2E work again may seem counterproductive, given the decline in SLP production. As for how existing immigrants will react to these economic shifts and the new difficulties that they bring.
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