Deep Dive
1. Ending SLP Emissions in Origins (7 January 2026)
Overview: Axie Infinity halted the distribution of new SLP tokens within its "Origins" game mode. This change directly impacts the token's supply economics by turning off a major faucet for new tokens.
The team stated the move was to curb automated farming, which was negatively impacting the game's long-term economy. While players can no longer earn SLP from gameplay in this mode, the use of SLP for in-game actions like crafting and morphing remains unchanged. This is a significant deflationary policy shift.
What this means: This is bullish for SLP because it sharply reduces the daily selling pressure from farmers dumping newly minted tokens, which could help support the price if demand holds. However, it's neutral in the short term because it might also reduce player incentive and activity.
(Source)
2. Perpetual Contracts Listing on Toobit (23 July 2025)
Overview: The Toobit exchange added SLP as an underlying asset for USDⓈ-M perpetual contracts. This integration provides traders with a new venue to speculate on SLP's price with high leverage.
The contract (SLPUSDT) launched with a tick size of 0.000001 and a funding rate capped between +2.0% and -2.0%, which settles every four hours. Such listings typically involve backend exchange code to support the new asset.
What this means: This is neutral for SLP because it improves market accessibility and liquidity for advanced traders, but it does not change the token's fundamental utility or the underlying Axie Infinity game.
(Source)
3. Perpetual Contracts Launch on Binance (23 July 2025)
Overview: Binance Futures listed SLP perpetual contracts, allowing trading with up to 75x leverage. The announcement highlighted SLP's characteristics as deflationary and its blend of DeFi, gaming, and meme culture.
This listing followed a similar pattern to Toobit's, expanding SLP's presence in the crypto derivatives landscape. It represents an integration effort by a major exchange rather than a change to SLP's own smart contracts.
What this means: This is bullish for SLP because it grants the token exposure to Binance's massive user base and deep liquidity, potentially increasing trading volume and price discovery.
(Source)
Conclusion
The latest developments show SLP's development is currently oriented around supply-side economics and market accessibility rather than low-level protocol upgrades. Will future updates shift focus to enhancing SLP's core utility within the Axie Infinity ecosystem?