On July 17, Seraph officially announced that it would use project reserve funds to repurchase equivalent tokens of no more than 5 million USDT from major exchanges and Pancake liquidity pool.$SERAPH encountered concentrated selling from multiple external addresses on July 12, causing violent fluctuations in cross-platform prices within a short period of time. After the incident, the Seraph project party immediately organized resources to carry out emergency intervention and quickly implemented multiple rounds of token repurchases on the chain simultaneously with major exchanges to curb the abnormal decline and stabilize market sentiment. Although this incident has had a phased impact, it will not change the fundamentals of Seraph's long-term development. S3 season rewards and 30-day pledge activity rewards will be issued normally as originally planned. Seraph sincerely apologizes to the users affected by this round of fluctuations, and also thanks all supporters for their patience and trust at critical moments. Seraph will continue to actively maintain market order and protect the values jointly built by the community through stronger on-chain risk control mechanisms and transparent communication.