General analysis:
The graph shows the dynamics of burning and issuing SLP (Smooth Love Potion) tokens on the blockchain. It can be seen that during the period from January 1, 2024 to June 15, 2024, 247,520,145 SLP tokens were issued, while 286,335,499 SLP tokens were burned.
Trends:
Large-scale token burning 🔥:
On some days, the number of tokens burned significantly exceeded the number issued. This may indicate high user activity in the gameplay, which requires a large number of tokens for operations.
Stable release of tokens 📊:
The release of new tokens occurred relatively steadily, without sudden jumps. This may be due to the fact that developers maintain a certain level of inflation to maintain interest in the token.
Peak values 📉📈:
In certain periods, there are sharp jumps in the burning of tokens, which may indicate major events or promotions in the game that encourage users to actively use tokens.
Impact on SLP price:
Token Burning 🔥: Reducing the total number of available tokens through token burning can contribute to an increase in the price of the token due to a decrease in supply, provided that demand is stable.
Release of new tokens 💧: The constant release of new tokens can put pressure on the price if demand does not increase in proportion to supply.
Conclusion:
The dynamics of the release and burning of SLP shows the active use of the token in the Axie Infinity ecosystem. Maintaining a balance between the issuance and burning of tokens is important to stabilize the price and encourage users to further participate in the gameplay.
