Evening
So, as anticipated Axis Infinity reward token SLP have been shooting up, enjoying enormous pump in response to the recently introduced changes from season 12 that aim to counter token's in game inflation by reducing the daily supply.
SLP has peaked to $0.0394 yesterday from 3rd February low of $0.008868, a staggering 340% growth. Currently the token is trading at $0.03065, as per data from Coinmarketcap.
The recent changes to Axie Infinity's play to earn model came in response to a imminent economic melt down. SLP price went into a
continuous slum over the past few months as the token price slumped down to pennies from an all time high of $0.3642 in May last year.
The changes aims to counter SLP inflation by reducing SLP daily supply by 56%. Previously 4X SLP have been minted as reward than being burned daily via breeding. This excessive supply had stressed the overall game economics.
As per recent changes, there will be no SLP rewards for completing daily quests. Daily quest rewards were introduced to encourage players to play game daily but that had resulted in excessive SLP supply stress the overall game economy. Curbing the daily quest SLP rewards will take 45 million SLP out of circulation daily.
Another important change from Season 20 is focus on boarding new players. A price pool of $6 million has been created with 117,676 AXS tokens to be awarded to top 300,000 players.
The economic changes might not be totally responsible of recent SLP pump, as yesterday Binance announced introduced SLP/BNB pair for spot trading.
Current SLP price of $0.03065 is still way down from its all time high of $0.3642, so there is definitely more growth potential as recent changes settle down.
