Tokenomi Seraph (SERAPH)

Seraph is a blockchain-based action role-playing game (ARPG) built on the opBNB Layer-2 solution. Its economic system is designed to integrate gameplay activity with a player-driven economy, centered around the native SERAPH token and various in-game assets like Soul Spars and NFTs.

Issuance Mechanism

The SERAPH token held its Token Generation Event (TGE) on January 6, 2025. The total supply of the token is capped at 1,000,000,000 (1 billion) SERAPH.

Prior to the TGE, the project utilized a pre-issuance mechanism involving "Seraph Starry Journey Feathers." These feathers served as eligibility markers that players could acquire and later redeem for SERAPH tokens at specific rates based on rarity:

• 1 Starry Feather: 1 SERAPH
• 1 Chaos Feather: 3 SERAPH
• 1 Soul Feather: 10 SERAPH

Allocation Mechanism

The distribution of the 1 billion SERAPH tokens is divided among several key stakeholder groups to ensure long-term ecosystem sustainability and community engagement:

The Foundation allocation is specifically earmarked for future development, exchange listings, strategic partnerships, and the development of "Seraph 2."

Usage and Incentive Mechanism

The SERAPH token serves as the primary utility and governance asset within the ecosystem. Its core functions include:

• In-Game Utility: Unlocking specific game features, crafting items, and accessing exclusive in-game events.
• NFT Enhancement: Reforging chaotic affixes for NFT equipment each season and revealing attributes of NFT equipment obtained through drops.
• Dungeon Access: Unlocking access to high-level dungeons, minting dungeon keys, and burning maps.
• Governance: Participating in future community governance activities to influence game features and event planning.
• Economic Participation: Participating in unique opportunities such as "Soul Spar" and "Equipment of Seraph" NFT drops.

In-Game Economy: Soul Spars

While SERAPH is the on-chain token, Soul Spars serve as the main in-game currency. They are not on-chain but are essential for:

• Entering the "Mystery of Chaos" dungeon to find NFT equipment.
• Enhancing equipment and improving gameplay potential.
• Trading in the in-game marketplace.

Locking Mechanism and Unlocking Time

Seraph employs specific vesting schedules and cliffs for non-community allocations to prevent immediate market saturation:

• Core Contributors (Team): Subject to a one-year cliff, followed by linear monthly vesting over three years.
• Investors: Subject to a one-year cliff, followed by linear monthly vesting over three years.
• Advisors: Subject to a six-month cliff, followed by linear monthly vesting over three and a half years.
• Community Rewards: There was no lockup period for the initial batch of Season 1 rewards (12,000,000 SERAPH) distributed to SOUL and SPP NFT holders.

The withdrawal functionality for SERAPH tokens became available on the TGE date, January 6, 2025. During the first quarter of 2025, the circulating supply reached approximately 203 million tokens, representing roughly 20.3% of the total supply.