Seraph (SERAPH) tokenomics

Seraph is a blockchain-based action role-playing game (ARPG) built on the opBNB Layer-2 solution. Its economic system is designed to facilitate a player-driven economy through the integration of the native SERAPH token and various in-game assets. The Token Generation Event (TGE) for SERAPH occurred on January 6, 2025.

Issuance and Allocation Mechanism

The total supply of SERAPH is capped at 1,000,000,000 (1 billion) tokens. The distribution strategy is multi-faceted, prioritizing community engagement and long-term ecosystem sustainability.

Initial Issuance and Airdrops

Prior to the TGE, players could acquire Seraph Starry Journey (SSJ) Feathers, which served as a pre-TGE issuance mechanism. These feathers were redeemable for SERAPH tokens at the following rates:

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

Additionally, an initial airdrop of 48,000,000 SERAPH was allocated to holders of SOUL and SPP NFTs. The first batch of Season 1 rewards distributed 12,000,000 tokens, with a claim period running from January 6, 2025, to February 5, 2025.

Usage and Incentive Mechanism

The SERAPH token serves as the primary utility and governance asset within the ecosystem, while Soul Spars act as the main off-chain in-game currency.

Token Utility

• Feature Unlocking: Used to access specific game features and exclusive events.
• NFT Crafting and Modification: Required to reforge chaotic affixes on NFT equipment each season and to reveal the attributes of dropped NFT equipment.
• Dungeon Access: Utilized for minting dungeon keys and burning maps to access high-level content.
• Governance: Holders can participate in voting mechanisms to influence game features, event planning, and the overall direction of the ecosystem.

Incentives and Play-and-Earn

The "user interactives" system quantifies player behavior to distribute rewards. Incentives are provided for:

• Ladder Rankings: Top players in the "Trial of Seraph" receive exclusive prizes.
• In-Game Contributions: Rewards are distributed for activities in the Chaos Dungeon and Secret Prison.
• NFT Interaction: Specific events, such as the Season 1 special event, awarded tokens based on actions taken with NFT equipment.

Locking Mechanism and Unlocking Time

Seraph employs cliffs and linear vesting schedules to ensure the commitment of core stakeholders and prevent immediate market oversaturation.

• 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: Tokens earned through specific airdrops (like the SOUL/SPP holder rewards) generally had no lockup period once claimed during the designated window.

In-Game Economy: Soul Spars

While SERAPH is the on-chain token, Soul Spars drive the daily in-game loop. They are earned by defeating monsters in the Void Realm while consuming "Chaos Energy" from equipped NFT items. Soul Spars are used to enter the Mystery of Chaos dungeon (where NFT equipment drops), enhance equipment, and trade in the in-game marketplace. Soul Spars can also be bundled into "Soul Boxes" NFTs to extend their utility beyond the game client.