It's the only way to save the Axie economy at this point imo, so I support the move.
After a bunch of speculation this morning. Jiho posted this tweet about the future of SLP and adventure mode.
What Jihoz is quote-tweeting there is a long thread posted last night by AK, the inventor of Axie scholarships. It is a very good thread and after you read it, imo it's hard to argue in favor of SLP being earned in adventure mode.
Why is SLP from Adventure killing the Axie economy?
You should read the full thread to get the full idea, but I'll quickly summarize it here.
this is not financial advice
Mint Burn Ratio Is Broken
The mint:burn ratio is what determines if SLP supply is inflationary or deflationary. If there is more SLP minted than burned on an average day, the token is inflating and SLP probably continues to lose value.
Right now 3x more SLP is minted than burned on an average day, which means that SLP is on average inflating by $1.5 to $2 MILLION dollars worth per day. On top of that, about 30 billion SLP exist in total unburnt supply right now -- this is a "glut" of SLP that, even if minting slows down, will take time to be reduced.
So the mint:burn ratio is broken.
Adventure Mode is where most SLP is created
Meanwhile, adventure mode and daily quest is responsible for about 75% of SLP minted each day. THAT'S A LOT.
Again: Adventure mode and the daily quest are 75% of all new SLP created each day. This alone accounts for the entire imbalance, if it wasn't there then at least in theory there would be more SLP burned than minted each day.
Taking SLP out of adventure and daily quest would immediately cut down on a substantial amount of botting and low-skill SLP farming.
Big solutions for big problems
Basically, any other solution will not address the fundamental issue with Axie's economy. Adventure must stop generating SLP for there to be any chance of keeping the SLP token healthy long term.
One more suggestion AK makes is to allow SLP to be earned below 800 MMR again if it is removed from adventure, so players who at least try to play but maybe can't compete above 800 will still be able to earn. These would be small earnings, but better than nothing.
It Has to Happen
They have to take SLP out of adventure mode soon...
With SLP at one cent, and with such a disastrous mint:burn ratio, there's not a good future ahead for this token if some substantial action isn't taken soon... and furthermore, it's going to make a bad situation for the launch of Axie Origin if SLP continues to dump.
The Session
Of course I'm still grinding!
Today's session was fun, even though we had really bad luck on backdoor draws. Can I just get neutral luck for a day? I want some better backdoor draws.
Yes! As long as Axie infinity have no other burning mechanisms to propose that is surely effective, I think this is the best solution so far. I just hope the community understands this as I know most of us are hoping to get SLP “to the moon” we should support the devs in making the “way” to the moon.
Some people understand, other people will be annoyed... as long as the devs keep building we'll make it
When I saw the title of your blog I immediately think about 800 MMR. I agree with the removal of SLP on the "adventure mode" but also remove the 800 MMR threshold and make earning SLP based on MMR. In that way, everyone has a chance to get better in the arena without worrying about not getting SLP if their MMR falls below 800.
Yeah this would be great, less stress for beginners and low rank players. If they take SLP out of adventure mode I hope they remove that 800 MMR threshold.
I hope so too.