SLP
Mystery of the whale wallet holding 50% of Axie Infinity’s SLP supply
For nearly a year now, a mysterious Axie Infinity wallet has been quietly amassing billions of Smooth Love Potion (SLP), the in-game cryptocurrency powering one of the industry’s most popular play-to-earn (P2E) crypto games. Today, the anonymous whale wallet now holds a little over 22 billion SLP — more than 50% the total circulating supply of the token. The problem? No one knows who it belongs to and what their intentions are. The wallet in question was brought to Cointelegraph’s attention by Axie Infinity player and tech co-founder Michael Benko, who first caught wind of this mysterious wallet on Aug. 25. Should we be worried? Benko told Cointelegraph he became concerned about the wallet given the amount of SLP it had gathered in a relatively short amount of time, which could poten...
Axie Infinity token AXS gains 40% after taking steps to avoid ‘permanent economic collapse’
The price of the Axie Infinity (AXS) token has surged by nearly 40% in three days. AXS rallied to over $65, its best level in more than two weeks, as Axie Infinity revealed a revamped reward structure for its player-vs-player (PVP) competition round. In detail, the play-to-earn startup expanded its number of leaderboard slots to 300,000 and boosted the amount of AXS rewards to 117,676 from the earlier 3,000 for the next season. “This will supercharge the competitive Axie scene and create more demand for quality Axie teams in the ecosystem,” Axie Infinity explained, adding that their move would create a $6 million worth of prize pool for Season 20. AXS/USD daily price chart. Source: TradingView Economic revamp boosts AXS demand AXS serves as a governance token for the Axie ...
