Smooth Love Potion (SLP) is an ERC-20 token used for breeding Axies in the Axie Infinity game. SLP, produced through in-game activities and traded on decentralized exchanges like Uniswap, holds value in both the game economy and the cryptocurrency market. As Axie Infinity grows, the importance and value of SLP also increase. In this article, you can find answers to two frequently asked questions: What is Smooth Love Potion (SLP), and how to buy Smooth Love Potion (SLP) with TRY.
What is Smooth Love Potion (SLP)?
Smooth Love Potion is an ERC-20 token used as an in-game asset in the blockchain-based game metaverse Axie Infinity. Players in Axie Infinity collect, breed, and battle digital pets called Axies, represented by NFTs. The game operates on a multi-token economy using another ERC-20 token called Axie Infinity Shards (AXS) for governance. SLP tokens are necessary for breeding Axies and can be earned in-game or traded on cryptocurrency exchanges, making them accessible beyond the Axie Infinity ecosystem.
SLP tokens are not sold directly by Axie Infinity but are produced within the game. Players earn SLP by winning battles against computer-controlled monsters in “adventure mode” or competing against other players in “arena mode.” These activities reward players with experience points and SLP tokens, but earning enough SLP for breeding can be challenging, leading to the development of a secondary market on platforms like Uniswap. This market allows players to purchase SLP tokens from others, accelerating in-game progress.
To prevent excessive Axie supply, Axie Infinity has limited the number of times an Axie can breed. Each Axie can breed a maximum of seven times, and the SLP cost increases with each breeding. The first breeding requires 600 SLP, and by the seventh breeding, the cost gradually exceeds 10,000 SLP. Additionally, players must pay one AXS token per breeding. These costs help regulate the number of Axies in the game and limit each Axie’s income potential.
The supply of SLP tokens is dynamic, as they are continuously produced through in-game activities and burned during the breeding process. This makes the circulating supply of SLP dependent on player activities in Axie Infinity. As the game’s user base grows, the amount of SLP generated through in-game competitions and other events is expected to increase. This constant flow of supply and demand contributes to the token’s value both within the game and in the broader crypto market.
SLP tokens hold value in the Axie Infinity metaverse’s play-to-earn mechanics and the broader crypto market. The ability to trade SLP on decentralized exchanges like Uniswap sets it apart from many other in-game currencies. This external market presence makes SLP a significant asset not only for Axie Infinity but also beyond the metaverse economies and the NFT market.
How to Buy Smooth Love Potion (SLP) with TRY?
Binance TR is the most suitable cryptocurrency exchange for investors in Turkey who want to buy Smooth Love Potion (SLP). Over 100 cryptocurrencies, including SLP, can be traded on Binance TR, where accounts can be quickly created. Follow these steps to buy Smooth Love Potion (SLP) with TRY on Binance TR.
How to Open an Account on Binance TR?
Opening an account on Binance TR is quite easy. To do this, go to trbinance.com and proceed from the “Create Account” step. In the first step of creating an account, you will be asked to enter basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering the requested information completely and accurately, an email/sms verification will be performed to confirm the information. After completing this process, you will proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is one of the security procedures that must be performed before starting cryptocurrency trading and during account creation. This process is also necessary to protect both the user and the cryptocurrency exchange. You can perform the verification process from your phone or the official Binance TR website. Note that you will need your mobile phone to verify your identity on the website.
On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” After this step, you will need to scan the QR code that appears with your phone’s camera and continue the process on your phone. If you cannot scan the QR code, you can click on the “Copy URL” option to have the identity verification address sent to your phone via SMS.
When you enter the address on your phone or scan the QR code, a screen like the one below will open on your phone. From here, first, tap on the “Identity” option to continue.
Then a screen like the one below will appear. To continue the verification process, first, select the document type that suits you best.
After selecting the document type, tap on the “Upload Front” option to continue. After taking a photo of the front side of the document according to the selected document type, tap on the “Upload Back” option and take a photo of the back side of the document and upload it. Make sure the images are clear and the information in the photo is easily readable when taking photos of the front and back sides of your ID card or driver’s license.
Then tap on the “Selfie” option to continue. At this point, your phone’s front camera will open, and you will need to scan your face. Make sure your face fills the camera area as much as possible once the camera opens.
After completing all these steps correctly and completely, your identity verification process will be completed shortly.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account through all banks. You can deposit TL 24/7 and make uninterrupted transactions from your Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, Türkiye Finans accounts. Deposits up to 50,000 TL can be made 24/7 with FAST from other banks. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, first, go to trbinance.com and hover over the “Wallet” option at the top left of the homepage, then click on the “Deposit” option from the drop-down menu.
Then a page like the one below will open, and you can continue the deposit process by selecting your preferred bank from this page. If your preferred bank is not yet integrated with Binance TR, you should continue by clicking on the “Other Banks” option.
In this example, we will continue using Vakıfbank, but the process is the same for all other banks. When you click on the Vakıfbank option, you will see an account name and IBAN address where you can make a transfer, EFT, or FAST to that bank. All you need to do now is use the information displayed on the preferred bank’s page to transfer the amount you want to deposit into your Binance TR account via transfer, EFT, or FAST.
Once your bank completes the transfer process, the funds you sent will automatically be reflected in your Binance TR account wallet.
How to Buy SLP Coin with TL on Binance TR?
After the deposit process, you can proceed to the TL to SLP coin purchase step by clicking on the “Buy-Sell” option in the top left menu of the Binance TR website.
After clicking on this option, the following page will open. Type “SLP” in the search section on the right side of this page and click on the SLP/TRY option from the results to go to the TL to SLP purchase page.
Now the following SLP trading page will open. On this page, in the area marked with a red box, you need to enter the price at which you want to buy SLP in the first box and the number of SLP you want to buy in the second box. After entering the amount, you can complete your purchase by clicking the “Buy SLP” button.
What is Binance TR?
Binance, the world’s largest cryptocurrency exchange by trading volume, officially launched its platform Binance TR for cryptocurrency investors in Turkey in 2020. The cryptocurrency exchange, headquartered in Istanbul, can be accessed at trbinance.com.
Binance TR leverages Binance’s technology, security measures, and liquidity provided through the Binance Cloud infrastructure to offer both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can seamlessly deposit and withdraw Turkish lira (TRY) through direct banking channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users are supported by Binance’s core functionalities, gaining access to market-leading spot trading liquidity, a robust matching engine, advanced security protocols, custody solutions, and risk controls through Binance TR.
