On July 12, $SERAPH experienced a concentration of dumping from several external addresses, causing intense price fluctuations across multiple platforms in a short period. After the incident, the Seraph project team immediately organized resources to implement an emergency intervention, quickly executing several rounds of token buybacks in sync with major off-chain trading platforms to curb the abnormal decline and stabilize market sentiment. Although this incident has short-term effects, it will not change the long-term development fundamentals of Seraph. The rewards for season S3 and the rewards for the 30-day staking activity will be distributed as planned. We sincerely apologize to users affected by this fluctuation and thank all supporters for their patience and trust during these critical times. Seraph will continue to maintain market order and protect the value collectively built by the community through more robust off-chain risk control mechanisms and transparent communication.