2026-01-20 04:35:00

Trove Markets, a major player in fundraising, has recently gained attention, but not for good reasons. It launched a funding round with an FDV of $20M, originally aiming for only $2.5M, but ended up raising $11.5M — the excess funds are refunded according to the rules. Sounds good, but the story that follows is quite ironic.

On the first day of $TROVE's launch, the price plummeted, dropping by 99.95%, and the current FDV has shrunk to just $1M. From $20M to $1M, the speed of devaluation is truly shocking.

This is a true reflection of some current fundraising scenarios: big investors participate with large amounts, and the refund mechanism works perfectly; retail investors chase the hype, and after being trapped, they can only accept their loss. The "70/30 split" sounds harsh, but looking at the data, it doesn't seem far from the truth. Web3.0 sophistication is about having the ability to turn fundraising into such a game.

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SolidityStruggler

· 9h ago

99.95% decline, how brutal is that, retail investors losing everything again --- Raised $11.5M but went live and was immediately cut in half, isn't that a bit outrageous --- The big investors' refund mechanism is perfect, retail investors are trapped and accept it, this is the reality of web3 --- Fallen from $20M to $1M, how is it happening so fast, quite interesting --- Another classic case of rug pulling, learned the lesson --- So raising a large amount of funding isn't necessarily a good thing, it might indicate more problems --- A 99.95% decline is truly incredible, how many people got caught --- Web3 fundraising is all about this, big investors come and go freely, retail investors take the hit, cycle repeats

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CountdownToBroke

· 9h ago

99.95% drop? How impressive, big fundraising players really know how to play --- It's the same old trick of a fundraising feast paid for by retail investors, used to it --- $20M to $1M, the speed is so fast it feels like playing a rug pull simulator --- The oversubscription refund mechanism is perfect; after listing, it crashes like a dog—this is Web3 "innovation," right? --- Big players eat the meat, retail investors drink the soup, and they still have to be locked inside waiting for a miracle—laughs --- Isn't $TROVE just a replay of the script where the fundraisers show off muscle and retail investors become the bagholders? --- Honestly, I no longer want to complain about these fundraising projects; they are too routine --- From $20M to $1M, this wave of decline is basically testing the limits of people's psychological endurance --- The fundraising and perfect refund mechanism are perfect; only the token price is imperfect. Coincidence?

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GateUser-40edb63b

· 9h ago

99.95% directly crashed to pieces, this move is impressive, retail investors are once again being exploited like leeks.

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RiddleMaster

· 9h ago

99.95% decline, how brutal is that... How did the big players all get out unscathed? Retail investors were also cut again. Why can't the promised refund mechanism protect them? This financing model is truly an art form. Financing 20M instantly drops to 1M. I wonder how many people had to take over. Is Web3 really like this? I thought it could change the world. Big players come and go freely, retail investors take the loss. These game rules are clearly written. I no longer believe in the excuse of oversubscription refunds; it's all a sham. The TROVE case should be included in textbooks as a real-life example.

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NeverVoteOnDAO

· 10h ago

99.95% decline... This number hurts my eyes, truly astonishing --- So this is what Web3 innovation is all about, learned something new --- The refund mechanism for big investors is truly more perfect than our insurance, isn't it ironic? --- From 20M to 1M, the speed of shrinkage is really impressive, I almost thought I saw the wrong number --- Why don’t retail investors chasing the rally get any risk warnings? Or is this just part of the costs? --- The 70/30 split is indeed harsh, but with the data in front of us, it seems undeniable --- Perfect refunds after financing, perfect drop to the limit after listing, it's just too perfect --- This is the true face of Web3, we've heard enough of the nice words

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