In just a few days, the value of the AXS token has increased by 40%. Axie Infinity has launched a new PVP incentive plan, and AXS has risen to $65, the highest amount in weeks.
The Axie Infinity protocol uses AXS as its governance token. It also serves as legal cash for the purchase of in-game non-fungible tokens (NFTs), often known as Axies, which are more or less unique digital pets. Finally, gamers can use AXS to create new Axies out of old ones through breeding depending on their breeding count.
Axie Infinity, on the other hand, employs a dual token structure.
Smooth Love Potions (SLP), the other cryptocurrency, was given to players for completing daily objectives and levels in Adventure mode. In addition, players in the Axie Infinity game gained SLP awards for participating in Territory Battles.
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Daily Quests and Adventure Modes
Axie Infinity has deleted the daily quest and adventure modes, leaving players with just territory battles as a way to gain SLP tokens. The decision implies a 56 percent reduction in the daily supply of SLP tokens.
Players will burn SLP to allow old Axies to generate new ones, therefore this is critical. The Axie Infinity team has just introduced more SLPs to reward players who have been hurt through breeding. Unfortunately, this resulted in more SLP inflation, forcing the price per token to drop from $0.40 in summer 2021 to $0.008 on February 3.
- As a result, Axie Infinity deleted options with the highest SLP generated. The team discovered that daily quests not only encouraged individuals to play every day but also burdened Axie Infinity’s market with a 45 million SLP supply debt.
- The Season 20 upgrade will make SLP rare, potentially increasing the value of Axies. As a result, Axie Infinity might develop popularity among gamers and crypto enthusiasts alike, thereby raising demand for its AXS coin. That may clarify why, following the launch of Axie Infinity on February 3, the price of AXS jumped by more than 40%.
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