Trove Investors Seek Refunds After Perps Pivot to Solana

Trove Markets, which is developing a decentralized perpetual exchange for collectibles, is facing backlash from investors after announcing a pivot from building on Hyperliquid to Solana. This decision followed the raising of over $11.5 million tied to a token sale for the Hyperliquid integration. A Trove builder cited a liquidity partner withdrawing 500,000 Hyperliquid (HYPE) tokens needed for the integration as the reason for the change, stating they must now rebuild the DEX on Solana from scratch. The project had previously raised $20 million in November to secure the mandatory HIP-3 stake on Hyperliquid. Community members are demanding immediate refunds, arguing they invested specifically for the Hyperliquid launch, not a Solana-based product. Trove has delayed its TROVE token generation event to process refunds and execute the Solana transition correctly. Trove intends to focus its perps trading on high-value collectibles like Pokémon cards and CS2 skins.

(Source：Cointelegraph)