SLP Beginners Guide | How to Buy, Sell, and Earn SLP in the Philippines
Axie Infinity, a popular digital collectible blockchain-based game which can be played on Android/iOS devices and on computers, is taking the gaming industry to a new level because of its new business model also known as “Play-To-Earn” (P2E).
Many Filipinos or players are still not aware of SLP, the cryptocurrency earned when winning battles in Axie Infinity. In this guide article, we take a look at SLP, what it is and its use cases.
What is SLP?
Smooth Love Potions (SLP) are is the in-game tokenized currency of the game Axie Infinity. Everytime a player wins a battle in the game, they earn SLP.
Uses of SLP
SLP is used for breeding new Axies. There are many proposed plans on what could be its other use cases, but for now, requirement for breeding is its current utility.
Players can also exchange their SLP into real world currency like USD or PHP through cryptocurrency exchanges like Binance or look for other players/breeders who are willing to exchange their SLP into USD or PHP. This type of transaction is also known as Peer-to-peer (P2P).
Further, since most of the players of Axie Infinity are from the Philippines, there are merchants who are currently accepting SLP as one of its modes of payments and this is good since you can also farm SLP and exchange it for items you want like laptop, shoes, etc.
Learn more by reading our article about “Merchants and Shops That Accept SLP in the Philippines”.
How to Earn SLP
As of this writing, Axie Infinity has two (2) gameplay modes which are called “Adventure” & “Arena”.
Before, players can earn up to 100 SLP every day on Adventure mode. However, since the exponential growth of players, the Sky Mavis team had to rebalance the economy by halving the total amount of SLP that can be earned every day of players to 50 SLP in Adventure and 25 SLP for finishing the daily quest..
Earning SLP in the Arena has become different too.
You can see on the table below our Arena SLP Guide:
Effective SLP Farming Tips
For new players, the most frequently asked question is “How much energy do I have to use in my first week or first few days?”
Before we answer that question, we must know how much SLP can we earn on every level in Adventure so we can plan our farming strategy.
First, let’s take a look at Adventure Level Rewards on the image below:
Based on the data provided, reaching Level 10 and above is really good for farming SLP on Adventure when your energy is already depleted.
For starting players, you can put all of your energy on your first two (2) days on Adventure so you can also have some grasp on how your Axie cards or skills work. By doing this, your Axie’s level is between 8-11 and on your third (3) day, you can just put 5 energy on Adventure mode (for the sake of leveling up your Axie) and use the remaining 15 energy on the Arena to compete with other players and make your MMR go higher. This is because the higher your MMR is, the higher the SLP rewards you can receive.
Further, after putting 15 energy on Arena, you can go back to Adventure mode if you still did not reach the 50 SLP limit since playing Adventure mode without energy can still provide players with SLP. However, it will not provide any experience for your Axies.
How to Withdraw SLP
Players/managers often solve the high gas fees of Ethereum by doing peer-to-peer instead. That means players exchanging SLP with other players. They often do this in public marketplaces at a -.5 Binance rate which means if the current price of SLP on Binance is Php 7.5 they are willing to buy it at Php 7.
However, scammers are unavoidable especially if there are so many people who are not fully equipped with knowledge about crypto/blockchain that can be taken advantage of.
That is why Binance’s recent announcement of Ronin network integration really helps Axie Infinity players/managers as it gives them peace of mind because it allows them to immediately transfer the SLP they earned on Axie Infinity to Binance where they can exchange it for other crypto or cash out via Binance P2P.
Here are the four (4) simple steps on how to withdraw SLP from Ronin to Binance:
1. On Binance, go to the Withdraw (AXS or SLP) page.
2. On the Withdraw page, choose Ronin as the Network.
3. Paste your Ronin Address BUT replace the “ronin:” part with “0x”
4. Network fee is 0.005 AXS. For SLP, Network fee is 1 SLP
For more info about it, read this article we have written titled “How to Transfer SLP, AXS, from Axie Infinity Ronin to Binance.”
This article is published on BitPinas: SLP Beginners Guide | How to Buy, Sell, and Earn SLP in the Philippines
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