- Axie Infinity (AXS) aficionado @maxbrand99 used Twitter to show off the peculiar tokenomics of the game.
- Since June 26, 2022, the SLP token burning rate has rapidly increased.
- Previously, these campaigns were introduced in Q3 of 2018 and Q3 of 2019; participants had the opportunity to design distinctive “Summer Axies” and incorporate them into gameplay.
Tokenomics of The Game
One of the two primary tokens that make up the Axie Infinity on-chain gaming environment is Smooth Love Potion (SLP), which supports its tokenomics. GameFi fans are therefore paying close attention to its analytics. Axie Infinity (AXS) aficionado @maxbrand99 used Twitter to show off the peculiar tokenomics of the game. He noticed that the Axie Infinity crew had destroyed more Smooth Love Potion (SLP) than it had produced during the previous few days.
On July 14, 2022, this circumstance was recorded. It was originally registered in August 2021, or over a year ago, according to @maxbrand99’s tweet. Since June 26, 2022, the SLP token burning rate has rapidly increased. This procedure has decreased the SLP minting rate over the last ten days. It should be mentioned that Axie Infinity’s unique breeding campaign, Lunacian Summer, began on July 14. Fans of Axie Infinity may obtain unique skins for their Axies while this campaign is live.
The SLP Dilemma
Previously, these campaigns were introduced in Q3 of 2018 and Q3 of 2019; participants had the opportunity to design distinctive “Summer Axies” and incorporate them into gameplay. After the release of Lunacian Summer, the price of the SLP token increased by more than 17.6%, from $0.0034 to more than $0.004. Nevertheless, it continues to be among the poorest performances of GameFi heavyweights, dropping by 99.1% from the record high set in May 2021.
Source: https://www.thecoinrepublic.com/2022/07/19/skyrocketing-axie-infinitys-slp-burn-rate/