Share this article
Axie Infinity’s SLP Rallies 40% in 24 Hours After Season 20 Update
The SLP token has quadrupled over the last seven days in the buildup to the update.
Updated May 11, 2023, 6:19 p.m. Published Feb 10, 2022, 7:53 p.m.
The play-to-earn game Axie Infinity’s reward token SLP – short for smooth love potion – has surged by 40% over the last 24 hours after the launch of the "Season 20" update.
The update reduces the pace of issuance of SLP, cutting the daily new supply to 45 million per day, according to Axie Infinity.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The move followed recent complaints about the token's rapidly inflating supply and a 99% plunge in the price over a seven-month period.
The game has been affected by the hyperinflation of SLP, a result of a high SLP minting rate and low burning rate, according to a newsletter from Delphi Digital. This resulted in immense selling pressure on the token, with prices dropping below $0.01.
“The SLP rally is a direct response to the reduction of SLP issuance in the game,” said Aleksander Larsen, Axie Infinity’s co-founder, in an email to CoinDesk.
“Most seems to be driven by speculation, but we expect SLP to stabilize in the coming weeks as the fundamentals come into play,” added Larsen.
Although SLP has quadrupled in price over the last seven days in anticipation of the launch of Season 20, the token is still down from its all-time high of $2.41 reached in July according to data from Messari. This was amid a wave of headlines trumpeting the future of cryptocurrency-powered video games.
Axie Infinity wrote in a blog post that as a measure to stabilize the in-game economy it has removed all SLP rewards from "adventure mode" and will cap SLP rewards to increase token scarcity.
“Adventure mode was originally conceived as a way for the community to learn how to use their Axies," according to the blog post. "It has outlived its purpose as a way for people to earn tokens from the game.”
The Season 20 update has also created a $7 million prize pool to “supercharge the competitive Axie scene,” according to the blog post.
AXS, Axie’s governance token, is up 40% in the last seven days and is trading at around $67 at press time.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
These Three Metrics Show Bitcoin Found Strong Support Near $80,000
Onchain data shows multiple cost basis metrics confirm heavy demand and investor conviction around the $80,000 price level.
What to know:
- Bitcoin rebounded from the $80,000 region after a sharp correction from its October all time high, with price holding above the average entry levels of key metrics.
- The convergence of the True Market Mean, U.S. ETF cost basis, and the 2024 yearly cost basis around the low $80,000 range highlights this zone as a major area of structural support.
Top Stories
