How to Cash Out AXS and SLP to Coins.ph!
Update: Coins.ph now accepts Direct Ronin to Coins.ph deposit of AXS and SLP!
By Nath Cajuday
AXS and SLP are the two tokens involved in play-to-earn (P2E) game Axie Infinity.
Axie Infinity Shard (AXS) is the governance token of the game. It is also awarded to players in the leaderboard every season of the game. And since it is the game’s governance token, AXS holders can choose which upgrades are good for the game’s ecosystem.
There were over 61 million AXS that are currently in circulation in December last year, and the supply is at most 270 million.
Smooth Love Potion (SLP), on the other note, is the in-game tokenized currency of Axie Infinity. Players earn SLP for every win in Person vs Person (Arena) mode, in Person vs Computer (Adventure) mode, and for completing the daily quest of the game, while they need it to breed Axie, a non-fungible token (NFT) creature.
Unlike AXS, SLP has an infinite number of supplies. And as of November 2021, there were over 3 billion SLPs that are currently in circulation.
Meanwhile, according to Coins.ph, AXS and SLP are the two most highly requested tokens in the country.
Last December 22, Coins.ph announced that AXS and SLP are now available for customers to buy, sell, and store on the app.
How to cash out AXS and SLP to Coins.ph
1. Sign up with a Coins.ph account (if you already have an account and are already ID and selfie-verified, proceed to step 3.)
2. Get ID and selfie-verified.
3. Create your Coins.ph AXS / SLP / ETH wallet address on the app.
3. Transfer assets outside of Axie Infinity to Metamask using Ronin Bridge:
3.1. Click the ‘Withdraw’ button and put in your Metamask Address on ‘Ethereum Address’.
3.2. Select an Asset, then click the amount you want to transfer.
3.3 Click the ‘Next’ button and confirm.
3.4 Check your Withdrawal
3.5 Sign a transaction confirmation in your Metamask Wallet.
4. Transfer your assets to Coins.ph
4.1 In your Metamask Wallet, click ‘Send’ button.
4.2 Enter your Coins.ph AXS / SLP / ETH wallet address and the amount you want to transfer.
4.3 Set the gas limit to at least 70,000 in ‘Advanced Options’ button.
4.4 Choose your Transaction Fee (slow, average, fast)
4.5 Click Send and confirm.
5. Check if the blockchain has confirmed the process. Check also if the assets your transferred get credited in your Coins.ph AXS / SLP / ETH wallet.
SLP and AXS FAQs
SLP is an ERC 20 token that are used to breed Axies and are not the Axie Infinity governance token.
AXS is the governance token of the game. Anyone can stake AXS and has no minimum amount required. You can stake and unstake AXS as often as you like.
Do NOT put the Axie Infinity Bridge Contract on “Ethereum Address” as it will send your funds to the game’s smart contract and cannot be recovered.
Put only your Metamask Address on “Ethereum Address.” The Bridge will not work for other exchange wallets such as Coins.ph, Coinbase, CoinEx, KuCoin, and many others. If you withdrew to an address that’s not a Metamask address, your funds will be stuck on the bridge. And the game’s developer, Sky Mavis, will not be able to provide help with this.
And lastly, only send funds through the ERC-20 Network. AXS and SLP sent through sidechain networks (e.g. Ronin) will be permanently lost.
Buy AXS and SLP at Coins.ph
Around 30% of the players of Axie Infinity are from the Philippines. And converting SLP and AXS directly to peso is a good benefit. And it is what Coins.ph offers, as it is the first mobile wallet in the country.
In addition, Coins.ph,since it is a mobile wallet, it is possible to pay your bills within the app itself.
This article is published on BitPinas: How to Cash Out AXS and SLP to Coins.ph!