The Axie Infinity team announced via Twitter on Wednesday that it has launched a tool that makes it easy for users to burn their SLP tokens. Smooth Love Potion (SLP) is an ERC-20 token that is the in-game asset of the popular blockchain-based gaming metaverse Axie Infinity.
The team said the tool is a feature requested by tournament organizers so that they could host tournaments with an SLP buy-in that gets burned to help balance the economy.
Axie Infinity is a Pokémon-inspired digital pet universe built on the Ethereum blockchain where anyone can earn token rewards through skilled gameplay and contributions to the ecosystem.
AXS, the native token of the Axie Infinity ecosystem, is up by more than 19% today and currently trades at $33.70