Trove investor ire mounts after team keeps $9M, new token tanks 95%

Trove shocked the community last week with a last-minute decision to pivot its perps DEX from Hyperliquid to Solana, a move that upset many of its initial backers.

Vocal critics within the Trove Markets community on X are in uproar again after the team announced it will keep most of the investor funds it had raised to build on Hyperliquid and instead use them to build on Solana. 

Trove had raised over $11.5 million for a token sale tied to its integration on Hyperliquid, but announced on Friday, just days before its token generation event, that it will pivot to building on Solana.

One of Trove’s builders, “Unwise,” later blamed the pivot on a liquidity partner withdrawing 500,000 Hyperliquid (HYPE) tokens needed for the Hyperliquid integration, with dozens of Trove investors demanding refunds since the sudden change in direction.

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