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It hasn't been launched yet. It's in the "public test" period, not even on the main website, so we can see if everything is alright.

I know, I just wanted to confirm if that's how it'll work

No, from my understanding it will be a seamless experience. You just create an account and start playing. No spellbook needed, no staked SPS. But only soulbound rewards. I'm not sure if they activated them with this, but they should also have some sort of tooltips when you create a team and start making mistakes like putting a range attacker in the front position.