{"id":59654,"date":"2026-01-19T09:52:12","date_gmt":"2026-01-19T02:52:12","guid":{"rendered":"https:\/\/hbbgroup.net\/unhappy-backers-seek-refund-as-trove-pivots-from-hyperliquid-to-solana\/"},"modified":"2026-01-19T09:52:12","modified_gmt":"2026-01-19T02:52:12","slug":"unhappy-backers-seek-refund-as-trove-pivots-from-hyperliquid-to-solana","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/unhappy-backers-seek-refund-as-trove-pivots-from-hyperliquid-to-solana\/","title":{"rendered":"Unhappy backers seek refund as Trove pivots from Hyperliquid to Solana"},"content":{"rendered":"
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Trove Markets, which is building a decentralized perpetual exchange for collectibles, is under fire for pivoting to Solana after raising over $11.5 million<\/a> tied to a token sale for an integration on Hyperliquid, prompting some backers to seek refunds.<\/p>\n

Trove first announced<\/a> the surprise move to Solana in a post to X on Friday, with one of Trove\u2019s builders, \u201cUnwise,\u201d later blaming<\/a> the pivot on a liquidity partner withdrawing 500,000 Hyperliquid (HYPE) tokens needed for the Hyperliquid integration.<\/p>\n

\u201cThis changes our constraints: we\u2019re no longer building on Hyperliquid rails, so we\u2019re rebuilding the perp DEX on Solana from the ground up.\u201d<\/p><\/blockquote>\n

The TROVE token<\/a> sale ran from Jan. 8 to Jan 11, and the token generation event is now slated for Monday at 4:00 pm UTC.<\/p>\n

\u201cDue to the move to Solana and the refund processing, we need more time to execute this correctly,\u201d Trove said.<\/a><\/p>\n

Source: <\/em>Trove Markets<\/em><\/a><\/figcaption><\/figure>\n

In November, Trove raised<\/a> a separate $20 million to purchase 500,000 HYPE tokens needed for Hyperliquid\u2019s mandatory HIP-3 stake,<\/a> which locks the capital as a slashable security bond to launch a perps market.<\/p>\n

The decision to pivot to Solana has sparked criticism from the Trove community, with some demanding refunds, while others seek clarity on how the Solana pivot could affect refunds.<\/p>\n

\u201cRefund everyone ASAP and re-raise with your new conditions\/roadmap,\u201d X user NMTD.HL<\/a> said. \u201cPeople did not invest in your ICO for you to launch on Solana.\u201d<\/p>\n

Related: <\/strong><\/em>80% of hacked crypto projects never \u2018fully recover,\u2019 expert warns<\/strong><\/em><\/a>\u00a0<\/strong><\/em><\/p>\n

X user HYPEconomist added:<\/a> \u201cRefund the people now!!! You raised to money to build on hyperliquid! Give back the money and raise on solana if you think that’s what your community really wants.\u201d<\/p>\n

Trove plans to focus its perps trading experience on collectibles such as Pok\u00e9mon cards and Counter-Strike 2 skins \u2014 a market that Bitwise projected in September could grow into a $21.4\u202f billion industry.<\/a><\/p>\n

Crypto analyst flags suspicious Trove transfers<\/h2>\n

Meanwhile, crypto sleuth ZachXBT<\/a> and the Hyperliquid <\/a>News X account have flagged several Trove transfers that involve the movement of HYPE tokens, citing data from Hyperliquid block explorer Hypurrscan.<\/p>\n

Cointelegraph reached out for comment but didn\u2019t receive an immediate response.<\/p>\n