Pseudonym Axi Infinity Enthusiasts Notice Interesting Changes in Important SLP Metrics
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- Axie Infinity’s SLP burn/mint ratio turns negative
- SLP is still 99% below its ATH
Smooth Love Potion (SLP), one of the two main tokens of the Axi Infinity on-chain gaming ecosystem, underpins its tokenonomics. In such a situation, GameFi enthusiasts are watching its metrics closely.
Axie Infinity’s SLP burn/mint ratio turns negative
Axie Infinity (AXS) enthusiast @maxbrand99 has taken to Twitter to demonstrate the unusual pattern of the game’s tokenonomics. As per his observations, the Axi Infinity team destroyed more Smooth Love Potions (SLP) than the previous days.
for the first time since 8/4/21 @AxieInfinity More SLP has been burnt than what was mined. I also added numbers for the amount of SLP burned and the average SLP cost / exe breed since the event started #lunesiansummer pic.twitter.com/BP1KP2G3jA
— maxbrand99.eth (@maxbrand99) 15 July 2022
This status was recorded on July 14, 2022. In his tweet, @maxbrand99 said that it was registered almost a year ago in August 2021.
The burn rate for SLP tokens has been increasing since June 26, 2022. Meanwhile, over the past 10 days, this process goes along with the decrease in the SLP mining rate.
It should be noted that on July 14, Axi Infinity launched its special “breeding” campaign, Lunasian Summer. With this campaign activated, Axie Infinity fans can receive special “skins” for their Axies.
SLP is still 99% below its ATH
Previously, such campaigns were launched in Q3, 2018, and Q3, 2019; Enthusiasts were able to create unique “summer axes” and use them in sports mechanisms.
Following the launch of Lunasian Summer, the price of the SLP token jumped over 17.6%, from $0.0034 to over $0.004. However, it’s one of the worst performers among GameFi heavyweights: it’s down 99.1% since its all-time high recorded in May 2021.
As previously covered by U.Today, Bloomberg Crypto published a longread covering the rise and fall of Axie Infinity’s Tokenomics. One of its distracted enthusiasts claimed that many of its full-time players could work at McDonald’s and earn more by playing this much-hyped game.