Messari: Seraph Leads the Next Era of Blockchain Gaming, Unveiling Tokenomics and Empowerment Mechanism

By: blockbeats|2024/12/10 12:15:01
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Original Article Title: "Understanding Seraph: A Comprehensive Overview"
Original Article Author: Jeremy Koch, Messari

Key Highlights

· Seraph is a blockchain-based Action Role-Playing Game (ARPG) developed by Seraph Studio, built on the opBNB on BNB Chain Layer-2.

· Seraph has demonstrated outstanding network performance, generating over $2 million in revenue during a 30-day season. Over the past 30 days (November to December), the game has seen over 20 million transactions and 1.84 million unique players.

· The ActPass marketplace allows users to trade in-game items and enables instant item transfers between accounts and the game through off-chain orders.

· Prior to the Token Generation Event (TGE), players could purchase Seraph Starry Journey Feathers to qualify for token redemption.

Background

Since 2017, over $19 billion has flowed into the metaverse and Web3 gaming space. The development of blockchain games has made significant strides, evolving from behind-the-scenes on-chain operations to achieving a true AAA gaming experience. Seraph, an ARPG based on blockchain developed by Seraph Studio, is showcasing the latest achievements in this field. Inspired by classic loot-driven ARPGs, Seraph offers players an immersive experience, allowing them to embark on an adventure in the game, discover hidden treasures, and craft powerful equipment. Seraph is a free-to-play game that integrates a "play-and-earn" element, allowing players to earn rewards by completing in-game challenges.

Seraph Studio has bridged the gap between traditional gaming and Web3 technology. With a wealth of gaming industry experience, expertise in scalable technology, and a native Web3 team, Seraph has a unique advantage in showcasing the real-time value brought by blockchain technology to the player community.

Seraph has consistently held the top spot in terms of user numbers and transaction volume in BNB Chain-based game development. The project also features a dedicated in-game trading market where users can buy and sell equipment items. Currently, Seraph's token SERAPH has not undergone a TGE, but users holding the Seraph Starry Journey Feather collection will be able to redeem SERAPH tokens using the feathers.

Gameplay Basics

Hero Characters

In Seraph, players need to choose one of four main characters to embark on their adventure, with the fifth character—the Druid—still in development. The four optional characters are:

· Valkyrie: Proficient in using a bow and spear for ranged attacks, she is the ideal choice for ranged combat.

· Barbarian: Possessing great strength and stamina, he can use a variety of weapons and combat skills, excelling in close combat with enemies on the front line.

· Sorcerer: Focused on magic, she can manipulate three elements—frost, fire, and lightning—through various spells.

· Necromancer: Capable of summoning undead minions and casting curses to affect enemies.

Players can choose a character that suits their gameplay style to start a unique adventure experience.

Messari: Seraph Leads the Next Era of Blockchain Gaming, Unveiling Tokenomics and Empowerment Mechanism

Seraph has also introduced a series of avatars called SOUL PFP, consisting of a total of 6,000 NFTs, with 500 being ultra-rare (SSR) and the rest rare (R). Players holding this NFT series are among the core players.

Equipment System

Seraph offers an extremely rich equipment system from which players can benefit. Each player can use ten equipment slots, namely: left hand weapon, right hand weapon, necklace, two rings, helmet, armor, belt, gloves, and boots. Each piece of equipment belongs to one of the following levels:

When different roles are paired with different equipment combinations, they will have different enhancement effects. For example, equipment with the "Valkyrie" tag has a wider range of base damage compared to equipment without this tag. This encourages players to choose specific types of equipment based on their needs to create their ideal character setup. For instance, if a player seeks the highest damage output, they should equip gear with the "Valkyrie" tag.

If a player equips a companion/pet, they can also enjoy conveniences such as automatic item pickup, item identification, item breakdown, and shop functions. Players can also set specific parameters for their pets to pick up items.

Dungeons

Seraph offers three types of dungeons: Void Realms, Mystery of Chaos, and Trial of Seraph.

Void Realms

After completing the main quest or using the item "Riftbreaker's Gift," players can unlock the Void Realms. This area has 18 difficulty levels and some special BOSS maps. If players can defeat the monsters on the map, they will have the opportunity to obtain Soul Crystals, equipment materials, and high-level gear. Void Realms can be entered as a team, which is very helpful for tackling higher difficulty levels.

Mystery of Chaos

The Mystery of Chaos dungeon is gameplay designed specifically for "Seraph Equipment" NFT holders. Here, players can complete challenges and acquire new NFT equipment. To enter this dungeon, players need to accumulate an energy bar by killing monsters. Once the energy bar is full, players can challenge the dungeon boss. After defeating the boss, multiple chests will be airdropped, containing NFT equipment.

Trial of Seraph

After completing the main storyline task, the Seraph Trial will also unlock. This is the primary location to obtain gems and talismans. Its gameplay is similar to the Chaos Mystery, but the main difference is that regular monsters will not drop items, only providing experience rewards. The Seraph Trial supports player team-ups, and the dungeon's monster difficulty will increase based on the number of team members.

At the end of each challenge, a player's performance will be ranked based on the clearance level and time taken, and rewards will be distributed according to the ranking. This mechanism encourages player competition and teamwork.

Technology

Market Functionality

Seraph Studios has created an ActPass Market for players to trade in-game items. Through a simple login process, users do not need to deal with complex blockchain operations. ActPass allows users to deposit specific crypto assets for purchasing digital items and ensures instant synchronization with the game account. This means that a player can equip and use a recently purchased one-handed sword without any delay.

To streamline the overall experience, ActPass controls user wallet operations within the market. ActPass can transfer NFT items between the game and the market, with users only needing to pay the price of the item itself, without any additional fees.

ActPass's functionality is made possible because Seraph is built on the BNB Chain's layer-two solution opBNB. With opBNB offering a low gas fee of about $0.001 and commitment to processing over 4,000 transactions per second, players have the ability to engage in frequent transactions, including NFT trades and game gear acquisitions. Even during peak activity periods, players can enjoy a smooth, uninterrupted gaming experience. This scalability supports real-time asset synchronization in the ActPass Market, ensuring that newly purchased items can be used immediately without delays. Leveraging opBNB aligns perfectly with Seraph's mission to provide players with a high-quality gaming experience by shielding them from the complexity of blockchain, allowing players to focus on the game itself.

In-Game Economy System

All players in the game process, especially in the Void Realm, can obtain rare resource rewards. Players holding NFT equipment can produce Soul Spars by defeating monsters in Void Realm dungeons and consuming the Chaos Energy of NFT equipment. Soul Spars are a key in-game currency. Soul Spars are not on-chain assets and serve the following four in-game purposes:

· Consume Soul Spars to enter the Mystery of Chaos dungeon for a chance to obtain "Seraph Equipment" NFTs.

· Enhance NFT equipment and improve player's combat power and level through consumption in additional gameplay.

· Buy and sell goods in the in-game ActPass marketplace.

· Allow players to package Soul Spars into on-chain "Soul Boxes" and sell them as NFTs to other players.

Tokenomics

Seraph is a free-to-play game that incorporates a play-to-earn mechanism. The project's token SERAPH is yet to have a TGE, but players can earn Seraph Starry Journey Feathers to potentially redeem for tokens in the future.

Starry Journey Feathers come in three rare levels and are set at corresponding SERAPH token redemption rates:

· 1 Starlight Feather = 1 SERAPH token

· 1 Chaos Feather = 3 SERAPH tokens

· 1 Soul Feather = 10 SERAPH tokens

Part of the token supply will be used for player rewards and distributed through the "User Engagement" system of each season (as shown in the core loop model). This system quantifies player interaction based on their behavior and activities to reward players.

The SERAPH token is designed to unlock features, craft items, and promote in-game participation. To further enhance the utility of the SERAPH token, the token can also be used for:

· Re-rolling chaos affixes of NFT equipment each season.

· Revealing attributes of NFT equipment acquired through airdrops.

· Participating in unique opportunities such as "Soul Gem" and "Seraph Equipment" NFT airdrop events.

· Engaging in future community governance activities.

Network Activity

Seraph has demonstrated its profitability. From August 22, 2024, to September 25, 2024, Seraph generated over $2 million in in-game revenue, reaching a historical peak of 90,000 individual players. In the last 30 days (November to December 2024), the transaction volume within the Seraph ecosystem has exceeded 20 million transactions, with 1.84 million individual players.

Roadmap

Summary

Seraph showcases the latest advancements in blockchain gaming, offering players an immersive action role-playing experience centered around dungeon exploration. Players can complete quests, discover treasures, craft equipment, and earn rewards through the "play to earn" mechanism, incentivizing their active participation. The ActPass marketplace simplifies the trading of NFTs and in-game items, allowing even users with little knowledge of blockchain to easily participate.

Seraph has already demonstrated strong network activity, achieving significant revenue and a growing user base on the BNB chain's opBNB. With its Web3 capabilities, Seraph is poised to lead the next wave of blockchain gaming, providing players with a thriving ecosystem that combines entertainment with tangible rewards.

Original Article Link

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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.


Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.


Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps


Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.


The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position


The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.


Social-Native Trading: Strategy and Execution Completed in the Same Context


Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying


On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.


By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.


Referral Mechanism: Non-institutional users can receive up to 60% fee split


Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings


This model aims to drive user-driven network expansion and organic growth.


Self-Custody Architecture and Built-in Privacy Mechanism


Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:


· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure


The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.


A New Path for On-Chain Derivatives


Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.


The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.


Regulatory Background


Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.


This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."


The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.


About Mixin


Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.


Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication


Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.


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