Play to earn games have been in place before Axie infinity token. However, Axie infinity opened the whole world to the rewarding Play to earn games.
Axis infinity is an NFT play to earn game built on the Ethereum blockchain and it has a lot of rewards for users.
It has two native tokens which are used to reward players and users of the platform – AXS and SLP.
There is a lot to learn about both. This post contains the review, tokenomics and everything you need to know about AXS and SLP.
Table Of Contents
SLP Token Explained
SLP is the abbreviation for “Smooth love Portion”, formally known as ” Small love Portion”. It is the native token of Axis infinity and built on the ERC 20 block chain. It has a market coin circulation of about 3.08 billion according to CMC.
Users and gamers of the Ethereum gaming platform make use of SLP for several purposes which include:
This is the situation where two Axie reproduce another “Axie” as offspring. You can use your SLP token to buy two Axie which will mate together and produce another.
Every Axie has it’s own breed count. The parent Axies will become sterile after producing a child, Axie. The amount of SLP you invest on an Axie tells you the breed count of that Axie.
2. Real World Payment
Looking at the way everything has turned virtual, many countries will soon start copying the Philippines in making use of SLP as real world payment.
It has gone a long way already and there are ways you can earn this SLP tokens for free:
- Complete daily quest and earn 25 SLP tokens.
- Scholarships: Lend out 3 of your Axies to other players and continue earning SLP tokens
- If you are in Adventure PVE mode, you can earn up to 50 SLP tokens per year.
- Arnt Arena PVP gamers earn 1 SLP token per war won up to the maximum 20 SLP.
SLP sounds good right? Time to move to AXS.
Explaining The Axie Infinity Token
AXS, fully known as Axie Infinity Shard, is an ERC 20 token used for utility and governance on Axie infinity. It can be earned by taking part in Axie gaming activities.
The maximum market supply of AXS is about 270 million tokens. It is also used for different purposes including:
- Breeding: 1 AXS and a few SLP tokens are enough for the birth of a child axie (breeding).
- Governance: Users that hold AXS can take part in decision making and voting on the improvement of the NFT gaming platform.
- Staking: Holders of AXS can stake their coins to earn more AXS. They play to earn AXS, stake the token to earn more AXS.
How To Stake AXS Token
Below is the step by step guide to stake AXS token and earn more from this:
- Fund your ronin wallet or register at Ronin.com and then fund it. Buy directly from the wallet DEX or buy from the top exchanges listed below.
- Then go to “AXS Staking” on your dashboard.
- Make sure you attach your wallet to the AXS site
- Tap on approve AXS to make use of all available in your or in your wallet.
- After confirming, you will have to pay a transaction fee using the Ronin token. But if you still have 100 free transactions available that you can go on without payment.
- Tap on stake. Input the amount of AXS you want to stake, then “stake”
- Confirm staking
- Use your Ronin wallet to get your rewards or even stake once again.
Top Crypto Exchanges To Buy/Sell SLP And AXS
Which coin is here that Binance doesn’t list. It is the largest crypto currency exchange around the world. It supports trading, swapping of AXS and SLT tokens. Normally, they can be traded for this coins:
- SLP ” – ETH, BUSD, USDT, TRY.
- AXS – BTC, ETH, BUSD, BNB, USDT, AUD, USD, BRL, BIDR.
Kucoin is another too exchange as well. You can check our own review about Kucoin here. It supports the trading of AXS and SLP for tether.
This is one of the exchanges with the most trusted and amazing portfolio. AXS and SLT are also featured here and their trading pair is just USDT.
Best Wallets To Store SLP And AXS
1. Ronin Wallet
Ronin wallet is the only wallet that can work directly with the Axie infinity platform. It is created on the ethereum blockchain and features AXS and SLP storage. Also, you can swap and participate in different activities from the simple interface.
Metamask is an ethereum blockchain wallet. It allows for the storage of the Axies’ native token. It also makes it easy for Ethereum defi apps to connect directly to or in network.
3. Trust Wallet
This is a mobile (desktop) wallet that helps to store and secure AXS and SLT. It can also be used for different purposes e.g swapping thee AXS or SLT token.
This is a well known hardware wallet. It supports the storage of different kinds of tokens. It is the most secured kind of wallet. It supports coins like BTC, as well as, AXS and SLT.