After much speculation, the wallet hodling more than 22 billion of Axie Infinity’s total supply of in-game token Smooth Love Potion (SLP) has been identified as an address belonging to Binance.
The wallet was first highlighted by Axie Infinity player and tech co-founder Michael Benko, who raised concerns about it having over 50% of SLP’s total circulating supply, which could potentially have an impact on the game’s ecosystem.
Following a Cointelegraph report on the matter, Axie Infinity co-founder Jeff Zirlin confirmed on Twitter that the address is a “Binance Ronin gateway contract.”
Benko noted on a Twitter thread that he had previously reached out to Sky Mavis and others for an explanation without any luck, before bringing the wallet to the attention of the media.
Related: New free-to-own GameFi model is ‘high risk,’ according to CZ
Binance has provided various bridges to the Axie Infinity ecosystem, and the exchange allows users to withdraw assets from the game to the exchange and vice versa.
The firm has a long-running partnership with Axie and previously helped the project by providing a bridge for users to withdraw assets from the game after the Ronin Bridge went down following the $600 million hack in March.
Source: https://cointelegraph.com/news/solved-mystery-owner-of-the-huge-axie-infinity-slp-wallet-is-revealed