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      On-chain detective Specter questions Serpin's token issuance decisions: says low-liquidity launch and lack of follow-up damage credibility

      PANews reported on October 10 that on-chain detective Specter posted that Serpin's handling of the project after its token generation event (TGE) could affect the project's reputation, and questioned its token issuance decisions.

      Specter said 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, the team's activity declined after the TGE. At the same time, he pointed out that Serpin launched its token with low liquidity and only chose Coinbase for trading, without listing on other trading platforms, limiting users' trading channels.

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


      Source: PANews
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