- Axie Infinity burned over 43 million SLP in September through Meta Morph and Rune crafting.
- Meta Morph and Rune crafting significantly contributed to Axie Infinity’s 1.25% annualized deflation rate.
In a tweet, Axie Infinity has announced important information about the burning of Smooth Love Potion (SLP) in September. They disclosed that this process has been much aided by the Meta Morph method, which consists of Class Morphing for Mystic and Agamogenesis Axies releasing.
Furthermore, contributing to even greater SLP burning was Rune and Charm crafting for Origins during the competitive Season 10 Epic and Mystic Eras. These updates show Axie Infinity’s ongoing efforts to lower SLP supply by means of deflationary policies, thereby strengthening the ecosystem.
September SLP Stability Fund Update
In September, we added more SLP burning in Meta Morph. This was with the release of Class Morphing for Mystic and Agamogenesis Axies. Also, Rune and Charm crafting for Origins during the competitive S10 Epic and Mystic Eras contributed to more… pic.twitter.com/zJItxDv06k
— Axie Infinity (@AxieInfinity) October 7, 2024
Meta Morph’s Key Role in SLP Burn and In-Game Deflation Strategy
The important numbers for September show a net SLP burn of 43,328,509, therefore bringing the overall on-chain SLP supply to 41.23 billion. The annualized deflation rate was thus 1.25%.
Axie Infinity has underlined that part of its long-term plan to balance the supply and demand of SLP is these burn occurrences, therefore guaranteeing a better in-game economy. The Meta Morph mechanism alone has helped to burn 15.1 million SLP over the previous two months, therefore highlighting its influence on the deflation process.
Fascinatingly, based on the most recent policy update, no more action is needed, suggesting that the present systems are enough to sustain the intended deflationary tendency.
Furthermore, well-positioned to assist the financial stability of the ecosystem are the Stability Fund assets of USDC 55,000 and 9,773,328 SLP. Meta Morphing lets Axies grow more potent or flexible to fit the changing meta of the game, therefore improving the whole playing experience for users.
According to a CNF report earlier this month, the Meta Morphing feature by itself has burned 15.1 million SLP within two months, hence quickening Axie Infinity’s long-term deflation aim.
This method keeps players interested and motivates greater ecosystem involvement by making their cards stronger or better fit for the strategy of the game.
Beside that, as we previously noted, Axie Infinity has also improved Fortune Slips by lowering its cooldown to 24 hours, therefore enabling players to raise their earnings more regularly. The History tab and Progress Tracker the Premier Bounty Board has also added will help players keep track of their successes and prizes.
These developments mirror Axie Infinity’s continuous dedication to maximize game mechanics and user experience.
Despite these encouraging developments, the in-game token AXS has lost its value. AXS is trading about $4.60 as of writing, a 3.49% drop over the last 24 hours. This decline has made AXS’s market cap less than $700 million.
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