The fountains: PipeFlare ZCash, GlobalHive ZCash & Get. This made the tax office have a stand, reminding everyone that crypto earning must be reported.ĭeFi bounty at CakeDeFi with $30 DFI for new users The Dental Centre in Mandaluyong had five patients that paid for treatment with SLP and many more merchants are onboarding the Axie Infinity reward as a method of payment. BloomX and Binance P2P has SLP to Philippine Peso (PHP) trading pair and comes as a solution for eth fees. Statistically, an average player can earn approximately 5000 SLP tokens per month, but the numbers I found were before the reward halving. Statistically, there are more Filipinos with a Ronin wallet then Filipinos with a credit card. The Ronin wallet allows users to make 100 free transactions each day, and this helped with the implementation of SLP as a method of payment towards local merchants. September saw another major update to the Axie Infinity ecosystem. The price kept rising for the rest of the month and reached 72.20 on 31 August 2021. On 10 August 2021, the day the new update went live, the AXS price ballooned from 43.71 to 64.05. Many merchants are now accepting SLP for goods and services. As a result, the game studio updated Axie Infinity to make SLP rewards much rarer. The SLP volume of trade has grown so much, that apps that can exchange the token for fiat money are trending. The wide use of SLP happened due to the high number of Axie players living in the Philippines, and real life usage as a currency. There are other places where $SLP can be used, including sneakers shops, insurance, car service, laptop upgrades and even to pay for COVID-19 tests or online fitness classes. Many shops inside SM Aura in Manilla began accepting Smooth Love Potion (SLP) for payments. I seen an article about SLP and how the token has become an accepted currency, and the Bakebe app allows customers to pay with cryptocurrencies. If the ETH cas fees will stay as high as today, than I will leave them on the Ronin wallet and I will start planning my future holiday in the Philippines. Making $213 worth of SLP with such low commitment makes Axie Infinity a top play2earn blockchain game, and it can get even better if the transfer fees will be low. I decided to leave the transfer pending until gas fees will drop. However, the gwei required to complete this transaction was $154. I sent the remaining 1368 SLP to my Metamask and the first stage didn't required any fees. I tried to make a mock test with 1 SLP and I said that my Binance SLP address is a Metamask wallet, and this transaction will ever be pending as no one was at home. The withdrawal will work only on Metamask, due to the signature confirmation. The 2-step process will send the assets to Ethereum then will require a confirmation for the Ethereum transaction. The next step was to send them to Metamask. At the time of making the print screen, 1369 SLP were valued at 213 USD. I claimed 1369 tokens from the Axie game to the Ronin wallet in a quick and feeless manner. I nearly played every day and I collected a nice stash of $SLP. the real reason is the poor arena system, where I always play against opponents few times stronger then me.Īxie Infinity - One month of playing and earning SLP On average, I spent 1 hour per day to collect 50 SLP from adventures and most of the time I don't even bother about the daily quest. After the reward halving, the price of $SLP started to drop, and I am still thinking if playing Axie is worth the effort! One month gone and I still struggle to win the 5 Arena battles. When I started, players could collect 50 SLP from the daily quest, but this was halved after few days. I skipped all the tutorials and guides and started playing. Had to install Ronin Wallet and Axie Infinity and then link it to Metamask. Meanwhile, in the past 10 days, this process goes hand in hand with the SLP minting rate decrease.The first day of playing Axie Infinity was a test of quick learning and self education. The burning rate for SLP tokens has been surging since June 26, 2022. In his stated that it was previously registered in August 2021, almost a year ago. This situation was registered on July 14, 2022. I also added numbers for the amount of SLP Burned since the event started and the average SLP cost / Axie bred #LunacianSummer /BP1KP2G3jA According to his observations, the Axie Infinity team destroyed more Smooth Love Potion (SLP) than it minted over the last days.įor the first time since 8/4/21 has burned more SLP than was minted. Axie Infinity's SLP burn/mint ratio becomes negativeĪxie Infinity (AXS) has taken to Twitter to demonstrate the unusual pattern of the game's tokenomics. As such, GameFi enthusiasts are watching its metrics closely. Smooth Love Potion (SLP), one of the two core tokens of the Axie Infinity on-chain gaming ecosystem, underpins its tokenomics.
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