Backers Seek Refunds as Trove Abandons Hyperliquid Integration for Solana

Trove Markets is facing mounting criticism after announcing a sudden pivot to Solana, weeks after raising $11.5 million in a token sale marketed around an integration with Hyperliquid.

Pivot Rationale and Backlash

The team, led by a builder known as “Unwise,” stated that a withdrawn 500,000 HYPE liquidity commitment forced them to abandon Hyperliquid rails. Trove is now rebuilding its perpetual DEX on Solana from the ground up, triggering widespread refund demands from backers.

Project Turmoil & Scrutiny

Fundraise: $11.5 million raised via public sale (Jan 8–11).
Withdrawal: Liquidity partner retracted 500,000 HYPE tokens.
Investigation: ZachXBT flagged $45K in transfers to casino deposit addresses.
Delay: Token generation event (TGE) delayed due to Solana transition.

“People did not invest in your ICO for you to launch on Solana. You raised money to build on Hyperliquid; give back the money.” — HYPEconomist on X.

Vision for Collectibles Trading

Despite the controversy, Trove plans to focus on a perpetual trading platform for collectibles like Pokémon cards and CS2 skins—a niche estimated to be worth $21.4 billion. The team maintains that Solana’s infrastructure is better suited to this vision than their previous roadmap.