2026-01-20 02:31:34

Perpetual Contract DEX Project Trove Announces Major Shift—No Longer Built on Hyperliquid, Entirely Migrating to Rebuild on Solana. This decision was made out of some frustration: a liquidity partner suddenly withdrew 500,000 HYPE, disrupting the original plan. The team decided to allocate approximately $9.4 million for new projects on Solana, stating this is the only survival path.

In terms of funding, Trove previously raised over $11.5 million through Hyperliquid integration. Now, the focus is on stopping the bleeding and restarting. About $2.44 million has been returned to some investors, and an additional $100,000 is planned to be refunded to ICO participants.

But the problem is, the TROVE token dropped over 97% within just 10 minutes after TGE, plummeting from $0.01 to $0.0008, with market cap dropping from $20 million to less than $1 million. On-chain monitoring shows that an entity accumulated 12% of the token supply through 80 new wallets, but there is currently no evidence linking this to the core team.

In response to community doubts, the Trove team stated they will not run away and plan to regain trust through subsequent execution. Whether they can truly turn the situation around remains to be seen.

HYPE-7,04%

SOL-3,2%

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AirdropSweaterFan

· 11h ago

Damn, this is the true reflection of the current Solana hype... another project forced to pivot It's that old cliché of "we won't run away," honestly, who believes that? 97% drop in 10 minutes? How much money did they lose? That's fucking outrageous. Wait, 9.4 million can still be burned? I just want to know how they're spending this money. About those 80 wallets, everyone says "no evidence," but it feels weird. The Solana ecosystem is about to have another reboot project, everyone get in line.

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GlueGuy

· 11h ago

97% decline, what kind of hardcore investor can survive to see tomorrow --- Another one in the Solana ecosystem, can it not turn into zero coins this time --- Honestly, looking at this pace, switching to Solana feels like being forced. Liquidity partners run away, and we still have to grit our teeth and talk about survival paths --- 97% in 10 minutes, that's more outrageous than some rug pulls, but if there's no evidence that the team is involved, then it's a bit uncertain --- Once again, big investors' holdings shrink. Does no one care about this? --- I think instead of returning 2.44 million, just hold onto that money and blow up the project on Solana --- Winning trust with execution? First, ask if the 12% of the supply in those 80 wallets is really dispersed --- Hyperliquid says drop, Solana says build, this back-and-forth looks like what --- I just want to know if TROVE's ticker can still survive another round

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RetiredMiner

· 12h ago

Again, escaping from Hype to Solana, this routine is seen all too often --- 500,000 HYPE withdrawn, losing everything? That feels a bit outrageous --- 97% decline, saying "not to run" is hard to convince people, right? --- 9.4 million dollars went down the drain, Solana starting over? The gamblers are really bold --- 12% of tokens are hoarded by 80 wallets, this script is well written --- 115 million raised, only 9.4 million survived, this loss is quite severe --- Can execution save it? I think it's doubtful --- From Hype to Solana, just moving somewhere else to keep dying? --- Why does it feel like this is a project where just "being alive" is good enough --- What does the refund of 2.44 million mean? Those who should run have already run --- TGE dropped 97% in 10 minutes, this is basically a death sentence

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pvt_key_collector

· 12h ago

Another old trick of "chain migration restart," this time is Solana taking over? --- 97% decline, crashing in ten minutes, how desperate must that be? --- Wait, 500,000 HYPE withdrawn directly? Is this what they call a "liquidity partner"? Laughable. --- Rebooting the Solana version with $9.4 million feels like a gamble. --- 80 wallets holding 12% of the supply, saying "it's okay," who would believe that? --- Not running away, with execution to earn trust... I've heard that too many times, brother. --- From a $20 million market cap instantly dropping to less than $1 million, that’s the most outrageous. --- Hyperliquid→Solana, feels like a forced choice. --- Refunded $100,000 to ICO participants? That must be so awkward. --- The question is, can Solana save this project? I remain skeptical.

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