A play to earn (P2E) altcoin has made huge gains after news spread that its future supply will change drastically.
In a new blog post, popular game Axie Infinity (AXS) announced a major rule change in season 20 where players will no longer earn Smooth Love Potion (SLP) by completing “daily quests” to stabilize the token’s value.
The gaming company says the rule change will reduce new SLP issuances by around 45 million tokens each day.
A previous blog post highlighted that this move is just as critical to ensuring the survival of the game itself.
Smooth Love Potion’s price has been rising steadily all week. Last Wednesday, the SLP was trading at a fairly low level, but has started to rise in successive waves from Monday.
Today, the altcoin is up another 45% in the last 24 hours and 210% in the past seven days. SLP was trading at $0.02900594 at the time of writing.
Axie Infinity’s native token AXS has also gained nearly 30% in the last 7 days.