SLP to PHP Price Today

What Is Smooth Love Potion?

The ERC-20 token Smooth Love Potion (SLP) can be used in the wildly successful NFT game Axie Infinity. It’s available in infinite quantities and serves as the backbone of the economic system for Axie Infinity players. Players can use SLP within the Axie Infinity ecosystem to breed virtual pets called Axies, which can then be traded or sold on the market as non-fungible tokens (NFTs).

The SLP token is an Ethereum-based ERC-20 standard, and the game itself is built on the Ethereum blockchain. Players who invest significant time into the game may eventually amass enough SLP to consider trading it with fiat currency like USD, EUR, CNY, GBP, IDR, CHF, BRL AUD, PKR, INR and many others. You can also trade your SLP to cryptocurrencies like ETH, BNB, BUSD, BTC, XRP, AXS, USDT, etc.

Non-fungible Tokens (NFTs) are trending, and blockchain technology has introduced many opportunities. Many of the blockchain-based gaming metaverses being developed by many companies provide players with the opportunity to earn real money while they play. One of these is the ever-growingly popular Axie Infinity game debuting in 2018.

The Smooth Love Potion ERC-20 token is the currency for the Axie Infinity rewards. SLP tokens are a form of Cryptocurrency that can be traded on decentralized exchanges. New Axies can be bred with SLP and sold on the Axie Infinity market for NFTs.

How Does SLP Work?

In Axie Infinity, the in-game currency is called Smooth Love Potion (SLP). SLP is an ERC-20 gaming token with a limitless supply known as “Small Love Potion.” Over 3 billion SLP were the total supply as of November 2021, increasing the market cap to 197 million US Dollar.

You can earn SLP by participating in the game’s daily quests, battles, and adventures. Players can begin breeding their unique Axies once they have amassed several SLP coins. The Smooth Love Potion price of breeding an Axie varies from one to another, depending on the number of breeds already present in the population.

As an alternative currency, SLP uses a “burning” mechanism. All SLP tokens will be destroyed after Axie breeding is complete. Growing token demand is anticipated as players race to gain breeding advantages in light of the game’s daily SLP farming cap. The SLP cost fluctuates due to market forces of supply and demand. In the middle of July 2021, it hit its all-time high of $0.41.

As a currency in the Axie Infinity metaverse, SLP is used for more than just purchasing virtual pets. When a player advances to a new level or defeats an enemy while allied with an Axies, they are rewarded with this token. Conversely, holders can trade SLP on cryptocurrency exchanges like Binance p2p to make price predictions.

How to Claim SLP in Axie Infinity

For those with no experience with Cryptocurrency, knowing how to claim and what to do with your SLP from Axie Infinity can be a daunting task. Over time you will get much more comfortable with it, but for now, we’ll show you the quick steps to claiming your SLP.

First, you’ll need to play Axie Infinity, completing daily missions, including adventure mode, arena battles, and daily challenges. Each activity will earn you some amount of SLP within the game, which you can withdraw. Once you’ve withdrawn your SLP to your Ronin wallet, you can send it to an exchange to later sell or keep it within the Axie Infinity ecosystem.

You can follow these steps below to quickly learn how to claim your SLP and transfer it to your Ronin wallet:

• To start, you’ll want to sign in to your Axie Infinity account and ensure your Ronin wallet is connected.
• You can then claim your available SLP tokens using the “Claim Token” option. This will allow you to see your current SLP balance in your wallet.
• When you click “Claim SLP,” this will automatically transfer any SLP you had in your Axie Infinity wallet straight to your Ronin wallet.
• Now you have to confirm the transaction on your Ronin wallet, which will show it should redirect you.
• The transfer can sometimes take up to 1 hour based on network traffic, but in most cases, it should arrive in 10 – 20 minutes. Don’t worry!
• Now, your SLP will be secured within your Ronin wallet. The next steps are entirely up to you.

How to Transfer SLP from Ronin to Binance

• On Binance, in the top right, you should see “Wallet,” then hover on it and select “Fiat and Spot.”
• Now you can search for SLP in the search bar, which should bring up SLP & SLPOLD. You’ll want to click “Deposit” on the one that says “SLP.”
• For the Network, select RON / Ronin. Please be aware of the pop-up that shows, “If you are transferring your asset from your Ronin Wallet, please replace the address prefix from ‘0x’ to ‘ronin:'”
• Keep Binance open on this page. Now you’ll want to go to your Ronin wallet, click on SLP, and it should show you your total balance of SLP. Now click the “Send” button.
• You can copy the “Address” from Binance and input it into the “To” section on your Ronin wallet. Make sure that the address starts with Ronin: and not 0x. This is important; otherwise, you might lose your SLP. But don’t panic; you can always send a small amount for the first time to make sure.
• Now you can choose the amount of SLP you want to send and click Next to confirm the transaction. You’re done! The SLP should arrive in your Binance wallet shortly.

What is the highest price SLP has ever been?

In August 2020, the exchange rate between 1 SLP and 20 PHP was the highest PHP price ever recorded. NFT Gaming and Axie Infinity were at the center of a great deal of attention at the time.

What is the best way to trade SLP for Philippine Peso?

Binance is the best global exchange to trade currencies, but it’s not completely supported in the Philippines. Coins.ph is another option, but we recommend finding a crypto exchange you like and sticking with it.

How much SLP can you earn in one day?

Through our research, the most you can expect to earn in a single day is 150 SLP. However, the average for most players is 60 SLP/day. This can vary greatly depending on your skill level and which Axies you are battling.

Is SLP a cryptocurrency?

Yes, Smooth Love Potion is a cryptocurrency (an NFT gaming token). It’s supported on the Ronin blockchain but can be traded for many other cryptocurrencies through exchanges. You can also trade it for PHP on many popular exchanges like Binance.

Where can I sell my SLP?

You can sell your SLP on many different crypto exchanges, including Binance, Coins.ph, Gemini, Gate.io, FTX, Coingecko and many others.

What is the best way to convert SLP coins to Philippine Peso?

You can use our conversion tools above and then pick an exchange to make the transfer on, or you can visit this video below for a detailed explanation.