Smooth Love Potion (SLP) serves as the core utility token within the popular NFT-based game Axie Infinity. As an ERC-20 token built on the Ethereum blockchain, SLP supports the in-game economy by enabling players to breed, trade, and enhance their digital creatures known as Axies. With the growing interest in converting in-game earnings to real-world currency, understanding the SLP to Philippine Peso (PHP) exchange rate becomes essential for players and investors.
What Is Smooth Love Potion (SLP)?
Smooth Love Potion (SLP) is a utility token specifically designed for use in the Axie Infinity universe. Operating on the Ethereum network, it follows the widely adopted ERC-20 standard. Players earn SLP by engaging in daily missions, winning arena battles, and completing adventure modes. This token is primarily used for breeding new Axies, which can then be traded or sold as non-fungible tokens (NFTs) on the game’s marketplace.
Beyond its in-game utility, SLP is traded on various cryptocurrency exchanges. Its value is influenced by market dynamics, player demand, and the overall popularity of Axie Infinity. The token implements a "burn" mechanism where SLP used in breeding is permanently removed from circulation, affecting its supply and market price.
Today’s SLP to PHP Exchange Rate
The following table provides the latest exchange rates between Smooth Love Potion (SLP) and the Philippine Peso (PHP). These values are indicative and may fluctuate based on market conditions.
SLP to PHP Conversion Table
| SLP Amount | PHP Equivalent |
|---|---|
| 1 SLP | 0.068616 PHP |
| 5 SLP | 0.34308 PHP |
| 10 SLP | 0.68616 PHP |
| 25 SLP | 1.7154 PHP |
| 50 SLP | 3.4308 PHP |
| 100 SLP | 6.8616 PHP |
| 500 SLP | 34.308 PHP |
| 1000 SLP | 68.616 PHP |
| 5000 SLP | 343.08 PHP |
| 10000 SLP | 686.16 PHP |
| 50000 SLP | 3430.8 PHP |
PHP to SLP Conversion Table
| PHP Amount | SLP Equivalent |
|---|---|
| 1 PHP | 14.57386032 SLP |
| 5 PHP | 72.86930162 SLP |
| 10 PHP | 145.7386032 SLP |
| 25 PHP | 364.3465081 SLP |
| 50 PHP | 728.6930162 SLP |
| 100 PHP | 1457.386032 SLP |
| 500 PHP | 7286.930162 SLP |
| 1000 PHP | 14573.86032 SLP |
| 5000 PHP | 72869.30162 SLP |
| 10000 PHP | 145738.6032 SLP |
| 50000 PHP | 728693.0162 SLP |
How Does SLP Work?
SLP functions as both a reward mechanism and a medium of exchange within Axie Infinity. Players accumulate tokens by participating in battles, completing quests, and achieving milestones. The breeding process consumes SLP, effectively reducing its circulating supply through token burning.
The economic model of SLP relies on supply-demand dynamics. Increased player engagement typically drives demand, while breeding activities and market listings influence supply. Historical data shows that SLP’s value peaked in mid-2021, reflecting heightened interest in play-to-earn gaming models.
How to Claim SLP in Axie Infinity
To claim SLP rewards, follow these steps:
- Log into your Axie Infinity account and ensure it is connected to your Ronin wallet.
- Navigate to the "Claim Token" section to view your available SLP balance.
- Select "Claim SLP" to initiate the transfer from your game account to your Ronin wallet.
- Confirm the transaction and wait for processing, which usually takes 10–20 minutes but may extend to an hour during network congestion.
Once transferred to Ronin, you can hold, trade, or convert your SLP tokens.
Transferring SLP from Ronin to an Exchange
To move SLP to a cryptocurrency exchange:
- Access your exchange account and locate the deposit section for SLP.
- Select the Ronin network (RON) when generating a deposit address. Ensure the address prefix is updated from "0x" to "ronin:" if required.
- In your Ronin wallet, choose the SLP token and click "Send."
- Paste the exchange-generated address, ensuring the "ronin:" prefix is included.
- Enter the amount and confirm the transaction.
After network confirmation, the SLP will appear in your exchange wallet, where you can trade it for PHP or other cryptocurrencies. 👉 Explore more strategies for managing digital assets
Factors Influencing SLP Value
Multiple elements affect the price of SLP:
- Player Base Growth: Increased adoption of Axie Infinity raises demand for SLP.
- Breeding Costs: Higher breeding activities reduce token supply through burning.
- Market Sentiment: Trends in the NFT and gaming sectors impact investor interest.
- Cryptocurrency Market Conditions: Broader market volatility often influences SLP’s valuation.
Frequently Asked Questions
How often does the SLP to PHP exchange rate change?
The exchange rate fluctuates continuously due to market trading activity. Rates can change multiple times per minute based on supply, demand, and overall cryptocurrency market trends.
Can I convert SLP directly to PHP without an exchange?
No, converting SLP to PHP typically requires using a cryptocurrency exchange that supports both SLP and fiat currency withdrawals. You may need to trade SLP for a stablecoin like USDT first, then convert to PHP.
What is the transaction fee for transferring SLP?
Transfer fees vary depending on Ethereum network congestion. During high-traffic periods, fees may increase significantly. Always check current network costs before initiating transactions.
Is there a minimum amount of SLP required for withdrawal?
Yes, exchanges and wallets often set minimum withdrawal limits. These thresholds depend on platform policies and current network conditions.
How secure is the Ronin wallet for storing SLP?
Ronin wallet is designed specifically for Axie Infinity and employs robust security measures. However, users must practice good security hygiene, including enabling two-factor authentication and safeguarding private keys.
Can I earn SLP without playing Axie Infinity?
While playing is the primary earning method, you can also acquire SLP through cryptocurrency exchanges or participating in community rewards programs. However, these methods require financial investment rather than gameplay.