Smooth Love Potion (SLP) is one of the two native tokens of the blockchain-based game Axie Infinity, built as an ERC-20 token on Ethereum. Players earn SLP through gameplay, primarily by winning battles in the PvP Arena mode, and use it to breed new Axies, purchase items, and even pay for goods in certain regions like the Philippines. Since its all-time high of $0.4191, SLP has declined over 99%, with a current circulating supply of 36.34 billion tokens as of May 25, 2026.
What Is Smooth Love Potion (SLP)?
Originally called Small Love Potion at launch in 2018, SLP was later renamed Smooth Love Potion. It functions as the utility token within the Axie Infinity ecosystem, while the other token, AXS, serves as the governance token. Players earn SLP rewards based on their MMR (Match Making Ranking) in the Arena mode: players with MMR above 2500 can earn up to 14 SLP per win, while lower-ranked players earn as little as 1 SLP. The developers removed daily quest and Adventure mode rewards in Season 20 to curb hyperinflation.
Key Use Cases of SLP
SLP is used for buying new Axie NFTs, breeding Axies (requiring both SLP and AXS), and purchasing in-game items from the marketplace to enhance Axie capabilities. Beyond the game, SLP can be traded on major exchanges like KuCoin, and holders can lend it via KuCoin's Crypto Lending to earn passive income. Additionally, a number of businesses in the Philippines accept SLP as a payment method due to the game's popularity there.
SLP vs AXS: Key Differences
While both are essential to Axie Infinity, SLP has no fixed total supply (uncapped), whereas AXS has a maximum supply of 270 million tokens, with less than a quarter in circulation as of mid-2022. AXS holders enjoy voting rights and staking rewards from the community treasury. However, breeding new Axies requires both tokens, creating inherent demand for SLP. The uncapped supply is a major factor behind SLP's price volatility and difficulty reaching higher valuations.
Can SLP Reach $1?
According to the available data, SLP's all-time high is $0.4191, far from the $1 milestone. With a circulating supply of over 36 billion tokens, a $1 price would imply a market cap exceeding $36 billion—an extremely unrealistic valuation given current game metrics. Without significant token burns or supply reduction measures, reaching $1 remains highly unlikely. However, positive market sentiment, a surge in Axie Infinity player base, or new use cases could support price recovery.
History and Team Behind SLP
Axie Infinity was created by Trung Nguyen, CEO of Sky Mavis, headquartered in Singapore. The game's seed funding round in November 2019 raised $1.5 million. The SLP token launched in December 2019 and was listed on Binance Innovation Zone. The Ronin blockchain mainnet launched in February 2021, enabling faster and cheaper transactions for the game. Since then, SLP has become one of the most recognizable gaming tokens in the crypto space.
Investment Outlook
SLP represents a pure GameFi investment, heavily dependent on Axie Infinity's continued adoption and gameplay mechanics. The current price is up 26.07% from its all-time low, but still down drastically from peak. Investors should consider the high inflation risk from uncapped supply and monitor game updates and user activity before trading.