On-chain detective Specter has publicly questioned Serpin's token issuance strategy and post-TGE management, warning that recent decisions risk damaging the project's credibility. Specter highlighted that Serpin previously stated it would not issue a token but ultimately launched one for a project he deems unnecessary, followed by a notable decline in team activity after the TGE. Specter further criticized the token launch for its low liquidity and exclusive listing on Coinbase, which restricts trading access for users. He also challenged the decision to refund only 15% of funds while requiring a lengthy application process for the remaining 85%, attributing the outcome to team mismanagement rather than a successful launch. The critique noted that Serpin had originally planned a September launch before delaying to the current timeline.