AXS, RON and SLP surge after Axie Infinity developers revamp the project’s tokenomics - BitcoinEthereumNews.com
SLP token price. Source: Nansen.ai According to data, SLPs emission is over four times greater than the amount of tokens being burnt, which has resulted in its price plummeting to less than a cent in the last 7 days. However, the Axie Infinity team is tackling the economic imbalance with in-game modifications set to launch today at the start of Season 20. SLP burn/ mint rate. Source: Nansen.ai Since anouncing its plans of economic rebalancing, Axie Infinitys AXS governance token and its blockchain token, RON, have seen an uptick in price. Since the season went live, SLP is up nearly 24% in the last 24-hours. Scaling and finding balance amid rapid growth is no easy feat, but could these economic rebalances prove to be profitable for users? SLP rewards are reduced while AXS incentives increase Starting on Feb. 9, Axie Infinity will no longer issue SLP for users playing in adventure mode and it will no longer reward users who have completed the daily quest. By removing these methods of token emission, the team is reducing the number of SLP minted daily by roughly 175 million SLP. Average daily in-game mint of SLP. Source: Axie Infinity These two issuance mechanisms make up nearly 84% of the SLP created