Over the past day, it has been wondered who is behind a wallet with a large amount of metaverse coins. After much speculation, the wallet containing over 22 billion Axie Infinity in-game tokens, Smooth Love Potion (SLP), was determined to be a Binance-owned address. Here are the details…
The veil of secrecy about the Metaverse coin wallet has been opened
The wallet was first highlighted by Axie Infinity actor and tech co-founder Michael Benko. Benko said SLP owns more than 50 percent of the total circulating supply. He expressed concern that this could potentially have an impact on the game’s ecosystem. Following the reports, Axie Infinity co-founder Jeff Zirlin confirmed on Twitter that the address is a “Binance Ronin gateway agreement.”
Sky Mavis co-founder and COO Aleksander Larson shared in a previous statement that the wallet does not belong to Sky Mavis or Axie Infinity. In the end, it was Zirlin who closed the issue. “Thanks for helping to uncover information on this topic. It really belongs to the Binance Ronin gateway contract,” he said.
The community is relieved
Benko stated that he was satisfied with the result while getting the answers he was looking for. He explained that he communicated directly with Zirlin. “I had some very aggressive key opinion leaders following me on Twitter today. But I’m really proud of my first story. I also think it is valuable for Sky Mavis to formally comment to explain to the community what this wallet is.”
Benko noted in a Twitter thread that he had previously reached out to Sky Mavis and others for a statement before bringing the wallet to the attention of the media. Binance has provided several bridges to the Axie Infinity ecosystem. The exchange allows users to withdraw in-game assets to the exchange and vice versa. The firm has a longstanding partnership with Axie. He previously helped the project by providing a bridge for users to withdraw their assets from the game after the Ronin Bridge collapsed in March following the $600 million hack.
As Cryptokoin.com reported, Smooth Love Potion (SLP) tokens are earned by playing the Axie Infinity game. This cryptocurrency replaces experience points. SLP are ERC-20 tokens and can be used to raise pets known as Axies. The breeding cost starts at 100 SLP, but increases gradually. Users can breed these pets more than seven times, and the seventh breed costs 2,100 SLP. This limit exists to prevent hyperinflation in the market. It takes time to accumulate SLP throughout the game. Therefore, buying SLP on the open market is a way for players to get a head start.
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