60% jump in the price of one of the Oxy Infiniti game tokens; What was the reason?

One of the main concerns of the popular Chinese blockchain game Axie Infinity is the rising inflation of the Smooth Love Position (SLP) token. As a result, the company tried to reduce the supply of SLP tokens by making some fundamental changes to the game. With the decline in the supply of SLP tokens, the price of this digital currency has risen dramatically during this period, but the amount of rewards that players receive continues to decline.

According to Crypto News, the daily release of Smooth Love Poison tokens in the twentieth season of OxyInfinity is expected to be drastically reduced with the help of several economic approaches. It is worth noting that Oxy Infiniti players receive tokens for a smooth love position as a reward.

In the first phase, Oxy Infinity is set to eliminate the prizes in adventure mode and the prizes for daily tasks for the users of the game. These sections represent 40% and 14% of all daily tokens issued, respectively. As a result, the daily release of these tokens is reduced by about 54%.

Due to the sharp rise in inflation of SLP tokens, reducing their emissions is very important. Previously, the number of SLPs released (supply) per day was four times the number of SLPs burned (demand). This may be a good reason for the poor performance of the token last year.

The news led to an increase in the price of Oxy Infiniti (AXS) and SLP tokens by 10% and 27%, respectively, at noon on Monday, February 7. It is worth mentioning that the upward trend of SLP has been observed in the last 24 hours and its price has jumped by 60%. Currently, the SLP token is about $ 0.021 and the AXS token is about $ 64.

Read also: Axie Infinity; A platform for playing and making money in the digital world

Oxyinfiti explained that making these changes is necessary to balance the economy of the game and prevent potential harm to consumers.

The company said:

Decisive and effective action must now be taken to improve the economy of the Oxy game. Otherwise, the whole game could be endangered and face a general and lasting economic collapse.

On the other hand, in the section where players play against each other (PVP), the number of SLP tokens produced is twice as many as the number of tokens burned. To solve this problem, Oxy Infiniti is set to adjust the rewards in this section as well. In addition, “fun mechanisms for burning and reducing the supply of these tokens” will be added to the game.

Oxy Infiniti has also significantly expanded the game’s dashboard. In the standings for season 19, approximately 3,000 AXS tokens were distributed among the top 1,000 players. During the season, 20,117,676 tokens must be distributed to 300,000 players.

The company said in a statement:

Simply put, we have prioritized the growth in numbers and the introduction of millions of new players. Without this approach, Oxy will probably remain a small game with only a few thousand players. Having several thousand players is a great condition for many projects, but our dream is to be able to bring billions of players into the world of Web 3.0 and change the Internet forever.

Oxy Infiniti has serious economic problems. After the increase in the price of Oxy Infiniti tokens, fewer players followed the standard game procedure. Instead of buying three oxy tokens to start the game, they borrow them from other players. As a result, many people worry that this game may not last long.

After a 60% jump in the price of one of the Oxy Infiniti gaming tokens; What was the reason? appeared first for currency.

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