How Axie Infinity’s AXS and SLP supply works
Axie Infinity uses AXS, a capped token, and SLP, an uncapped one. Gameplay mints SLP, and breeding burns AXS and SLP. You track both on official pages.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
- AXS holders can stake their tokens.
- SLP is the game's internal currency.
- Smart contracts automate minting and burning.
- Demand, liquidity, and unlocks also affect price.
The rules for minting and burning sit in smart contracts. Those contracts run on their own and keep the supply records.
What are AXS and SLP?
AXS is the governance token for Axie Infinity. A third party created it with an Ethereum smart contract. Its maximum supply was set at launch, and the tokens that remain are released over time. SLP, or Smooth Love Potion, is the game's internal currency, and it has no maximum supply.
- AXS holders can stake their tokens.
- Players receive SLP by completing tasks.
- Players spend SLP to defeat opponents.
How to check Axie token supply
Both supplies are public. Axie Infinity reports figures on its official pages, and a Ronin explorer shows token activity on the network the game uses.
- 1Open official Axie pagesThe game reports supply figures for AXS and SLP there. Note which token each figure describes.
- 2Check each token contractAXS and SLP have separate contracts, and each contract keeps its own supply record.
- 3Open a Ronin explorerAxie Infinity runs on Ronin, and an explorer shows AXS and SLP activity on that network.
- 4Watch SLP mintingSLP is minted through gameplay, so active periods can add tokens.
- 5Look at breeding burnsBreeding an Axie burns AXS and SLP, which removes both from supply.
- 6Write down the dateSupply figures change, so record when you read them.
What to do after checking supply
Supply is only one input into price. The price of AXS or SLP also depends on demand, liquidity, and how many AXS tokens are still due to be released. Poor management by a token team can push supply toward excessive inflation or deflation.
Frequently asked questions
Circulating supply is the number of tokens available to trade. Total supply counts every token that exists, including locked ones.
SLP is a reward that players receive for playing, so the game creates more as activity grows. A cap would limit those rewards.
A burn removes those tokens from circulating supply and is irreversible on-chain. If the token contract allows minting, new tokens can be minted later; for AXS, that would take a contract or rule change.
Axie Infinity publishes it in its official documentation and on its token page. The token contract itself does not hold the timeline.
