Seraph announces the use of project reserve funds to repurchase tokens equivalent to no more than 5 million USDT from major trading platforms and Pancake liquidity pools

According to BlockBeats, on July 16th, SERAPH experienced a concentrated sell-off from multiple external addresses on July 12th, causing significant cross platform price fluctuations in a short period of time. After the incident, the Seraph project team immediately organized resources to carry out emergency intervention and quickly synchronized multiple rounds of token repurchases with major trading platforms on the chain to curb abnormal declines and stabilize market sentiment. Although this incident has had a temporary impact, it will not change the fundamentals of Seraph's long-term development. The rewards for the S3 season and the 30 day staking activity will be distributed as planned. We sincerely apologize to the users affected by this round of fluctuations, and thank all supporters for their patience and trust during this critical moment. Seraph will continue to actively maintain market order and safeguard the value jointly built by the community through stronger on chain wind control mechanisms and transparent communication.