SLP Minting Falls Below 10M for 5 Straight Days

SLP-Minting-Falls-Below-10M-for-5-Straight-Days

The amount of Smooth Love Potion (SLP) being minted per day has fallen below 10 million. This has occurred for 5 straight days.

The last time that this happened was back in 2021 when SLP was about to reach its ATH.

Axie Infinity’s Origin experiment appears to be working, as the amount of newly-minted Smooth Love Potion (SLP) has been on a continuous decline. As a matter of fact, the amount of SLP being minted has fallen below 10 million for five consecutive days.

For instance, on August 29, there were only 7.4 million SLP minted, according to a chart by Axie World.

Source: Axie World

This may seem of very little inconsequence for others, but this is the first instance — in a long time — that the amount of SLP being withdrawn has fallen below 10 million in one day. In fact, the last time that this happened, SLP was nearing its all-time high price (ATH) of almost $0.40.

The primary reason for the decline in the minting of SLP is the launching of Origin Season 0. To bring the uninitiated up to speed, players will only be able to mint SLP upon reaching the Boar rank in the game, starting at 1 SLP per win. Those who are below the Boar rank will not win any SLP despite winning. 

Axie Infinity has also cut off the SLP issuance at the V2 Battles. In addition, the game has enabled players to craft runes and charms by using Moon Shards — the new in-game item — and SLP. This has introduced an additional means to burn SLP aside from breeding Axies.

Fundamentals aside, Twitter user @digishahed argues that SLP is preparing for a massive breakout soon.

However, at the time of writing, SLP has yet to show any eye-popping movement. SLP is changing hands at $0.00387, according to CoinGecko.

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