On-Chain Detective Specter Questions Serpin Token Launch Decision: Cites Low Liquidity Listing and Lack of Follow-Through as Damaging to Credibility

PANews, October 10 — On-chain detective Specter stated that Serpin's handling after its token generation event (TGE) could impact the project's reputation, and raised questions about its token issuance decisions.

Specter claimed that Serpin previously indicated it would not issue a token, but ultimately launched a token for a "project that did not need one" and participated in an ICO fundraising; however, team activity declined after the TGE. Additionally, he noted that Serpin listed its token with low liquidity, choosing only Coinbase and not expanding to other trading platforms, which limited user trading channels.

Furthermore, Specter questioned why Serpin only returned 15% of funds and required participants to go through a lengthy process to claim the remaining 85%, arguing that the outcome stemmed from the team's own decision-making failures rather than a successful TGE. He also mentioned that Serpin originally planned to launch in September, but after delays, the current situation ultimately emerged.