Trove Markets pivots to Solana hours before planned token launch

Trove Markets announced a sudden shift from Hyperliquid to Solana just one week after raising $11.5 million in a public token sale.

The project had planned to build a decentralised perpetuals exchange for collectible assets such as Pokémon cards and Counter-Strike 2 skins.

Pseudonymous team member Unwise said the decision followed a liquidity partner withdrawing support from the Hyperliquid strategy.

“We’re pivoting Trove to Solana,”

Unwise said, adding that the liquidity partner chose to unwind its 500,000 HYPE position.

Hyperliquid’s HIP-3 framework requires builders to stake 500,000 HYPE tokens as a security bond to deploy perpetual markets.

The staking requirement meant Trove lost access to its planned infrastructure once the partner liquidated the HYPE position.

“This changes our constraints: we’re no longer building on Hyperliquid rails,”

Unwise said, confirming the DEX would be rebuilt on Solana from scratch.

The pivot was announced only hours before the TROVE token was originally scheduled to go live at 7 p.m. UTC.

The token generation event was first delayed by two hours and later postponed to Monday at 4 p.m. UTC.

The announcement followed a turbulent token sale marked by last-minute contract changes and widespread criticism from traders.

Previous reports said changes to the ICO timeline led to losses for Polymarket users during rapid market repositioning.

Blockchain investigator ZachXBT alleged that funds from Trove’s fundraising wallets were transferred to prediction markets.

Unwise said the funds were paid to an influencer for promotion, who independently moved them to prediction platforms.

Social media reactions to the pivot were largely negative, with several investors calling for refunds.

The TROVE token has not yet launched and remains unavailable on spot markets.

At the time of reporting, Solana price was $138.38.