727 FinancePANews October 10 news: On-chain detective Specter posted that Serpin's handling after the token generation event (TGE) may affect the project's reputation, and questioned its token issuance decisions.
Specter said that Serpin had previously stated it would not issue a token, but ultimately launched a token for "a project that does not need a token" and participated in ICO fundraising; however, after the TGE, team activity declined. At the same time, he pointed out that when Serpin launched the token, liquidity was low, and it chose only Coinbase for trading, without deploying on other trading platforms, limiting users' trading channels.
In addition, Specter questioned why Serpin returned only 15% of the funds and required participants to go through a lengthy process to apply to recover the remaining 85% of the funds, arguing that the relevant outcome stemmed from the team's own decision-making mistakes rather than a successful TGE. He also mentioned that Serpin originally planned to launch in September, but after delays, the current situation ultimately occurred.