Axie Infinity (AXS) Price Surges 50% Amid Token Reward Re-structure

Axie Infinity (AXS) Price Surges 50% Amid Token Reward Re-structure
  • A 56 percent reduction in the daily supply of SLP tokens is expected.
  • The outcome was that Axie Infinity eliminated potential sources of SLPs.

The Axie Infinity (AXS) token’s value has increased by approximately 40% in only three days. Axie Infinity’s player-vs-player (PVP) tournament round has received a revised prize system, sending AXS to its highest level in almost two weeks.

AXS/USDT: Source: TradingView

Specifically, the firm has increased the number of leaderboard spaces to 300,000 and the number of AXS incentives to 117,676 from the prior 3,000 figures for the next season. The Axie Infinity protocol’s governance token, AXS, functions as a utility token. Unique NFT digital pets called “Axies” — may also be purchased from the Axie marketplace using the tokens. Finally, gamers may utilize AXS to create new Axies by breeding them with their own ones.

Axie Infinity, on the other hand, employs a two-token system. Users might earn Smooth Love Potions (SLP), another cryptocurrency to complete daily tasks and adventure mode levels. In addition, participants in Axie Infinity get SLP prizes via area fighting.

SLP Token Promoted

Additionally, the daily mission and the adventure mode have been removed from Axie Infinity, so players may only acquire SLP tokens by engaging in area battles. Thus, a 56 percent reduction in the daily supply of SLP tokens is expected.

To ensure that old Axies may produce new ones, players must use SLPs. Of late, the Axie Infinity crew developed more SLP to reward players than burnt through breeding. That resulted in an increase in SLP inflation, which caused its per token rate to fall from its summer 2021 highs of $0.40 to $0.008 on Feb. 3.

The outcome was that Axie Infinity eliminated potential sources of SLPs. They noticed that the daily quest, in general, encouraged individuals to play every day, but it also introduced a 45 million SLP supply strain to the Axie Infinity economy, it admitted.

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