Owning SLP: Uses, Wallets and Risks

SLP is a utility token for Axie Infinity. Players can earn it through battle or adventure mode, and it can be spent to breed Axies, the game’s digital pets. That gives SLP a use inside the game, but its usefulness depends on players wanting to earn or spend it.

Breeding costs rise with each breed: 100 SLP for the first, then 200, 300, 500, 800, 1,300 and 2,100 SLP for the seventh. An Axie can be bred a maximum of seven times. These costs are in SLP, so their value in dollars can change as the token’s market price changes.

You may also be able to transfer or trade SLP outside the game, depending on the exchange and network you use. That does not make it a guaranteed source of earnings: the token’s price can fall, and game-related demand can change. Treat its in-game role and its market value as separate considerations.

SLP has been issued on Ronin and Ethereum. It is not listed as the native token of either chain; it is a token that exists on those networks. Before you deposit, withdraw or send SLP, check which network the receiving wallet or exchange supports. A transfer sent on an unsupported network may be difficult or impossible to recover.

Choose a wallet that explicitly supports SLP on the network you intend to use. Check the token and network details in the wallet, and confirm the destination address and network before sending. If you are moving a larger amount, a small test transfer can help you catch a network or address mistake, though it cannot guarantee recovery if anything goes wrong.

Keep enough of the relevant network’s native asset for transaction fees. SLP itself is not the fee token simply because you hold it. Fees depend on the network and current conditions, so check the amount shown before confirming. Exchange withdrawal options, fees and processing times can also vary; verify them directly before moving funds.

As of 2026-11-08, SLP’s reported circulating and total supply were both about 36.18 billion tokens. No maximum supply is listed. That means you should not assume the token has a fixed cap that limits how many can exist. Supply figures can change, so check a current token tracker or the project’s own token information before relying on a number.

SLP’s role in breeding links demand to Axie Infinity activity, while its token supply and trading activity can also affect its market value. The game’s stated breeding costs are denominated in SLP, not in dollars. If SLP’s price changes, the dollar value of those costs changes too.

A large circulating supply does not by itself tell you whether a token is cheap or expensive. If you are assessing your exposure, consider whether you want SLP for in-game use, whether you can tolerate sharp price changes, and whether you can afford to lose the amount you hold. Do not treat past prices or supply figures as a forecast.

Store SLP only in a wallet that supports the correct network, or leave it on an exchange only if you understand the exchange’s custody and withdrawal terms. With a self-custody wallet, protect the recovery phrase offline and never share it. Anyone who gets that phrase may be able to take the assets. Avoid entering it into links, messages or forms claiming to offer rewards or urgent account help.

Check the network, token and destination address before every transfer. Ronin and Ethereum are distinct networks, and selecting the wrong deposit network can put your tokens at risk. For an exchange withdrawal, confirm that the exchange accepts SLP on the network you plan to use.

SLP carries market risk as well as wallet and transfer risk. Its value can move sharply, and demand is tied in part to use in Axie Infinity. Smart-contract or platform problems, scams, lost recovery phrases and mistakes with addresses or networks can also cause losses. Only keep an amount you can afford to lose, and do not rely on SLP’s past price or in-game role to guarantee future value.