Perp DEX's Big Show

To talk about the most magical operation in the Crypto circle this month, Trove Markets has given us a complete textbook-level case of a project failure.

This DEX, which focuses on perpetual contract trading, has managed to put itself through all the stages of the "standard script" for projects—in just one month—ranging from community doubts, operational chaos, to ultimately, trust collapse.

Interestingly, each step seems so "just right" in its lack of professionalism. You might say it's a technical problem, but not entirely; you might say it's intentional, but it seems a bit amateurish. The whole feeling is like watching a full demonstration of "how to quickly lose user confidence."

This incident once again reminds us: when choosing trading platforms and DeFi protocols, pay attention to those details—team transparency, risk management, emergency response speed. These often reveal more than promotional words. Many traders have already discussed related risks within the community, but they didn't receive enough attention.

In early 2026, the crypto market will undoubtedly see many such turbulent projects.