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Transformative Shift: COTI Leads the Future of Privacy with Ethereum Layer 2 Adoption

million, to fuel the holistic development of its ecosystem. This initiative is designed to support projects and developers who are aligned with COTI's mission of enhancing privacy, security, and scalability within the Ethereum ecosystem. The Ecosystem Growth Fund represents a significant investment in the future of blockchain technology and underscores COTI's dedication to fostering innovation and growth within the industry. Advancing Privacy with Garbling Circuits Technology COTI's transition to Ethereum Layer 2 signifies a strategic shift towards scalable privacy solutions within the blockchain space. The adoption of Garbling Circuits technology enhances the speed, efficiency, and security of COTI V2, positioning the firm as a pioneer in privacy-focused initiatives. Garbling Circuits technology opens doors to a wide range of applications, including privacy-preserving wallets, decentralized exchanges (DEXs), private AI training, governance mechanisms, and more. Part

Axie Infinity Revamps SLP Token: Supply Cap, Stability Fund, and Deflation Mechanism

Sky Mavis, the team behind the popular play-to-earn monster battling game Axie Infinity, recently announced a major rework of its reward token, Smooth Love Potion (SLP), in an effort to stabilize its earning model. Here are the key points to note:

Supply Cap for SLP

  • Sky Mavis has established a supply cap for SLP, limiting the total number of tokens to 44 billion.
  • This cap is not enforced by a new smart contract but rather described as a "social contract" that will be partly enforced through metering in-game rewards to stay within the cap.
  • Currently, there are approximately 41.4 billion SLP tokens in circulation.

Token Ecosystem

  • SLP serves as Axie's primary in-game currency, while AXS is its governance token and RON is the gas (transaction fee) token of Axie's Ronin blockchain, an Ethereum sidechain designed for gaming.

Deflation Mechanism and Stability Fund

  • The Axie Infinity team aims to bring SLP to a deflation rate of 2%.
  • They have introduced a stability fund where 2 SLP will be added for every 10 SLP burned, with an initial injection of 60,000 USDC.
  • The stability fund will programmatically buy SLP during high inflation periods and sell SLP during low inflation times to help balance supply and demand.

Price Movement

  • Following the announcement, SLP's price rose by approximately 8% in a day but remains down nearly 2% over the past week.
  • Despite this recent increase, SLP is still over 99% lower than its 2021 peak when Axie Infinity experienced a surge in popularity.

New Game Mode

  • In addition to earning SLP through gameplay, Axie Infinity has introduced a new game mode called Premium Cursed Coliseum.
  • Players must pay a one-time fee of 150 SLP to enter this mode but can earn 50 SLP for three wins and 150 SLP for six wins.

The adjustments made to SLP and the introduction of the stability fund demonstrate Axie Infinity's commitment to creating a more sustainable earning model for its players. As the game continues to evolve, it will be interesting to see how these changes impact the overall ecosystem and player engagement.

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