This clever loop hinges on Master Biomancer's static replacement effect, which ensures that entering creatures receive additional +1/+1 counters equal to its power. When you sacrifice Putrid Goblin to Sling-Gang Lieutenant, the Goblin's persist ability would normally return it with a -1/-1 counter, but Master Biomancer's bonus counters immediately cancel those out through state-based actions. This leaves the Putrid Goblin completely free of counters and ready to be sacrificed over and over again, allowing Sling-Gang Lieutenant to drain your opponents' life totals infinitely while generating endless triggers.