Trove Markets has sparked controversy by shifting its focus to Solana after raising $11.5 million for Hyperliquid, leading to investor frustration. The startup, which specializes in decentralized perpetual exchanges for collectibles, faced backlash after a liquidity partner withdrew 500,000 HYPE tokens, essential for launching on Hyperliquid. This forced Trove to rebuild its platform on Solana, delaying its token launch and prompting refund demands from investors. The pivot has raised concerns about Trove's credibility, as funds were initially raised for Hyperliquid deployment. Investors have criticized the move, demanding refunds and questioning the project's transparency. Trove acknowledged the backlash and stated that refund processing is underway. The shift to Solana introduces new competition and execution risks, with the TROVE token still unlaunched and the impact of delays and reputational damage uncertain.
Trove Markets Faces Investor Backlash Over Solana Pivot
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