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Seraph announces the use of project reserve funds to repurchase up to 5 million USDT equivalent tokens from major exchanges and the Pancake liquidity pool
BlockBeats News, July 16th, $SERAPH experienced multiple external address concentration sell-offs on July 12th, causing a rapid and intense cross-platform price fluctuation. After the incident, the Seraph team promptly mobilized resources for emergency intervention, swiftly conducting multiple rounds of token buybacks on-chain in sync with major exchanges to curb the abnormal price drop and stabilize market sentiment.
Although this event has brought about a temporary impact, it will not alter the fundamental development of Seraph in the long term. The S3 Season Rewards and the 30-day Staking Event Rewards will be distributed as planned. We sincerely apologize to users affected by this round of volatility and appreciate all supporters for their patience and trust shown during this critical time.
Seraph will continue to proactively maintain market order and safeguard the value co-built by the community through enhanced on-chain risk control mechanisms and transparent communication.
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