Axie Infinity Burns Over 43 Million SLP in September
In a recent tweet, Axie Infinity shared important news regarding the burning of Smooth Love Potion (SLP) in September. The process was greatly aided by the Meta Morph method, which involves Class Morphing for Mystic and Agamogenesis Axies, contributing significantly to the overall reduction of SLP supply.
Rune and Charm crafting for Origins during the competitive Season 10 Epic and Mystic Eras also played a crucial role in burning SLP. These updates underscore Axie Infinity's commitment to implementing deflationary Policies to strengthen the ecosystem.
According to the tweet, the net SLP burn for September amounted to 43,328,509, reducing the on-Chain SLP supply to 41.23 billion and resulting in an annualized deflation rate of 1.25%. The Meta Morph mechanism alone has contributed to burning 15.1 million SLP over the past two months, highlighting its significant impact on the deflation process.
Meta Morph's Key Role in SLP Burn and In-game Deflation Strategy
Axie Infinity emphasizes that the burning of SLP is part of a long-term plan to balance supply and demand, ensuring a healthier in-game Economy. The Meta Morph feature has proven to be an essential tool in achieving the intended deflationary trend.
The recent policy update indicates that current systems are sufficient to maintain the deflationary strategy, eliminating the need for further action. The Stability Fund assets of USDC 55,000 and 9,773,328 SLP are instrumental in enhancing the financial stability of the ecosystem.
Meta Morphing allows Axies to adapt and evolve, enhancing the overall gaming Experience for users. This feature has already burned 15.1 million SLP within two months, aligning with Axie Infinity's long-term deflation goals.
In addition to Meta Morphing, Axie Infinity has made improvements to Fortune Slips by reducing its cooldown to 24 hours, enabling players to increase their earnings more frequently. The Premier Bounty Board now includes a History tab and Progress Tracker to help players monitor their achievements and Rewards.
Despite these positive developments, the in-game Token AXS has experienced a decline in value, currently trading at around $4.60, marking a 3.49% drop over the last 24 hours. This drop has resulted in AXS's Market cap falling below $700 million.
Overall, Axie Infinity's ongoing efforts to enhance game mechanics and user Experience demonstrate the platform's commitment to Innovation and Growth in the nft gaming space.
