There is so many videos around and interesting threads on Tibia Fansites about it that I simply cannot elect the best one among all. I don't have a final conclusion to it, but we can have a very obscure quest over there, very difficult to proceed though.
There are many videos on Youtube regarding the subject (I've had contact with a good amount of them being in Portuguese). I guess that this channel will focus on the Serpentine for a while. check out if you think that these theories make some sense:
I didn't see the last one released but the part one was pretty good.
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