Seraph (SERAPH) Tokenomics

The Seraph ecosystem is built around the native token, $SERAPH, which serves as a utility and governance token designed to foster long-term engagement and a player-driven economy within the blockchain-based Action Role-Playing Game (ARPG). The Token Generation Event (TGE) for $SERAPH occurred on January 6, 2025. The total supply of $SERAPH is 1 billion tokens.

Issuance Mechanism

The issuance of $SERAPH is tied to the project's overall token supply of 1 billion tokens, with a significant portion reserved for community incentives and rewards.

• Pre-TGE Redemption: Before the TGE, players could acquire Seraph Starry Journey Feathers, which were redeemable for future $SERAPH tokens at set rates based on rarity:
  • 1 Starry Feather = 1 $SERAPH
  • 1 Chaos Feather = 3 $SERAPH
  • 1 Soul Feather = 10 $SERAPH
• Seasonal Rewards: A portion of the token supply is allocated for player rewards and distributed each season through a "user interactives" system that quantifies players' interactions, behaviors, and activities. For instance, Season 2, which began on March 7, 2025, featured a prize pool of 50 BNB plus 6.1 million $SERAPH.
• In-Game Distribution: $SERAPH tokens are distributed as rewards for various in-game activities, including ladder rankings, Chaos Dungeon contributions, Secret Prison participation, and Soul Spar utilization.

Allocation Mechanism

The total supply of 1 billion $SERAPH tokens is distributed across various stakeholders, with a strong emphasis on community engagement.

Key distribution mechanisms employed during and after the TGE included:

• Airdrops and Claims: Holders of SOUL/SPP NFTs and Seraph Starry Journey (SSJ) NFTs received airdrops. For example, SOUL and SPP holders were eligible for an airdrop of 48 million $SERAPH tokens, with the first batch of Season 1 rewards distributing 12 million $SERAPH. Community users and testers could claim their rewards through a dedicated event page.
• NFT Equipment Decomposition: Tokens were also distributed through the decomposition of NFT Equipment.

Usage and Incentive Mechanism

$SERAPH is the primary utility token designed to unlock features, craft items, and facilitate participation within the game, driving a player-driven economy.

Token Utility ($SERAPH)

The core functions of the $SERAPH token include:

• Equipment Enhancement: Used to reforge chaotic affixes for NFT equipment each season and reveal the attributes of NFT equipment obtained through drops.
• Content Access: Facilitates participation in unique opportunities, such as "Soul Spar" and "Equipment of Seraph" NFT drops.
• Dungeon Access: Utilized for unlocking dungeon access, minting keys, and burning maps. Minting dungeon keys allows players to farm Soul Spars without requiring NFT Equipment.
• Governance: Used for engaging in future community governance activities, allowing players to influence game features, events, and the overall direction of the ecosystem.

In-Game Currency (Soul Spars)

The in-game economy also utilizes Soul Spars, which are not on-chain but are essential for progression and are earned by players who equip NFT Equipment and defeat monsters in the Void Realm dungeon.

• Soul Spar Uses:
  • Consuming Soul Spars to enter the Mystery of Chaos dungeon, where "Equipment of Seraph" NFTs can drop.
  • Enhancing Chaos Equipment through affix gameplay.
  • Buying and selling goods in the in-game marketplace.
  • Crafting powerful equipment by combining materials and Soul Spars.
  • Unlocking additional content and facilitating item upgrades.

Locking Mechanism and Unlocking Time

The token allocation for Core Contributors and Investors is subject to vesting schedules designed to ensure long-term commitment to the project.

• Core Contributors (18.00%): This allocation is subject to a one-year cliff followed by linear monthly vesting over three years.
• Investors (6.42%): This allocation is subject to a one-year cliff followed by linear monthly vesting over three years.
• Advisors: The advisors' allocation is subject to a six-month cliff followed by linear monthly vesting over three and a half years.
• Airdrop Rewards: In contrast, the $SERAPH rewards distributed to SOUL and SPP holders during Season 1 had no lockup period, with withdrawal functionality available starting on the TGE date (January 6, 2025).

Information regarding the specific, detailed unlock schedule (dates and amounts) for the Core Contributors, Investors, and Foundation allocations was not available.