Question 1

What is SLP?

Accepted Answer

SLP (Smooth Love Potion) is a reward-based gaming asset in the Axie Infinity ecosystem. It serves use and circulation within the game economy, such as crafting specific game items; it does not represent equity in Sky Mavis or any other entity, revenue sharing, or fixed returns. Therefore, understanding SLP requires distinguishing game utility from token price: crafting demand, in-game reward issuance, and burns can affect supply and demand within the ecosystem, but these factors do not constitute a guarantee of price or returns.

Question 2

What is SLP used for in the game?

Accepted Answer

In-game SLP can be used to craft Runes and Charms. Crafting consumes SLP already held in-game; this connects SLP to the production of specific game items. If SLP is already held in a blockchain wallet, it cannot be used directly in this crafting process. It must first be deposited into the game through the Axie Portal to become a balance usable in-game.

Question 3

What is the difference between in-game SLP and on-chain SLP?

Accepted Answer

In-game SLP is a balance usable in Axie game flows; players can claim it through the Axie Portal and mint it on-chain, making it an on-chain token manageable in a wallet. The two states correspond to different stages, rather than two unrelated assets: the in-game balance can be used for crafting; on-chain SLP is convenient to manage on-chain, but it must still be deposited into the game through the Portal to return to the crafting stage.

Question 4

Is there a cap on SLP supply?

Accepted Answer

Axie announced in 2024 that it would set the SLP supply cap at 44 billion tokens. The cap is implemented through a social commitment and in-game issuance mechanisms, rather than requiring all holders to migrate to a new smart contract, so it should not be understood as an immutable hard-coded contract limit. The cap constrains the boundary of total supply; within that boundary, reward minting in the game and burns in use cases still change supply. The official announcement also stated that tracking mechanisms had been set up and that issuance would be stopped when approaching the cap.

Question 5

What is the purpose of the SLP Stability Fund?

Accepted Answer

The Stability Fund is a policy tool aligned with a long-term deflation target of approximately 2%, not a price-guarantee mechanism. The policy design is: for every 10 SLP burned, 2 SLP are retained or minted to a wallet controlled by the core team, with 60,000 USDC as the fund's initial capital. At the end of each month, the fund determines its action based on the annualized ratio of that month's net minting or net burning: if the annualized result is inflationary, it uses USDC to buy back SLP; if annualized deflation exceeds 2%, it sells SLP for USDC; if annualized deflation is in the 0% to 2% range, it takes no action. The trial monthly transaction amount in the announcement was $5,000; this describes the policy parameters at that time, and the policy itself may still be adjusted.

Question 6

Can the use of in-game SLP for crafting be disabled?

Accepted Answer

Yes. Under the default setting, Trainers can use in-game SLP to craft Runes and Charms; if they do not want this in-game balance used for that purpose, they can disable the option in "Account Settings" on the Marketplace. After disabling it, what changes is the account's permission or payment method for using in-game SLP for the corresponding crafting; it does not automatically convert on-chain SLP into an in-game balance.

Question 7

What should be considered when using or holding SLP?

Accepted Answer

When using or holding SLP, it is important to consider both demand and supply: crafting Runes and Charms creates in-game use demand, reward issuance increases supply, and burns in mechanisms such as crafting reduce supply. The Stability Fund intervenes only under its policy conditions, and the policy announcement explicitly states that its arrangements may continue to evolve with experience and community discussion. Accordingly, the supply cap, fund target, and in-game utility do not equate to commitments regarding liquidity, price, or returns.

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