Seraph Announces Buyback of Tokens Worth up to 5 Million USDT Using Project Reserve Funds
On July 17, Seraph officially announced that it would use project reserve funds to repurchase tokens worth up to 5 million USDT from major exchanges and Pancake liquidity pools. On July 12, $SERAPH experienced a concentrated sell-off by multiple external addresses, resulting in sharp cross-platform price fluctuations within a short period. In response, the Seraph team immediately mobilized resources for emergency intervention, swiftly conducting multiple rounds of on-chain token buybacks in coordination with major exchanges to curb the abnormal decline and stabilize market sentiment. Although this incident has had a temporary impact, it will not alter the fundamental outlook for Seraph’s long-term development. S3 season rewards and 30-day staking activity rewards will be distributed as originally planned. Seraph extends its sincere apologies to users affected by this round of volatility and thanks all supporters for their patience and trust during this critical time. Seraph will continue to uphold market order and protect the value built by the community through stronger on-chain risk control mechanisms and transparent communication.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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