Trove Markets abandons Hyperliquid and migrates to Solana hours before the token launch

Source: PortaldoBitcoin Original Title: Trove Markets shifts Hyperliquid network to Solana hours before token launch Original Link: Trove Markets announced that it has abandoned plans to launch its decentralized perpetual contracts exchange on Hyperliquid infrastructure and will move to Solana. The change comes just one week after the project completed a public token sale that raised $11.5 million and was centered around integration with Hyperliquid.

The decision was confirmed on Sunday by a team member identified by the pseudonym “Unwise,” who stated that Trove is “pivoting to Solana” after the departure of the liquidity partner responsible for supporting the Hyperliquid-based strategy. According to him, this partner chose to unwind its position of 500,000 HYPE tokens, a decision the team says they respect but which made the continuation of the original plan impossible.

The core issue behind the split relates to Hyperliquid’s technical requirements. Since October 2025, the model known as HIP-3 mandates that developers wishing to launch perpetual futures markets on the platform must stake 500,000 HYPE tokens, currently valued at around $12.5 million.

This amount acts as a security deposit, which can be penalized if the developer violates rules or compromises the system’s operation. With the withdrawal of the partner backing this stake, Trove lost access to the infrastructure needed to operate.

The exit occurred just hours before the scheduled launch of the TROVE token, which was set for 4 p.m. on Sunday. The token generation event was initially delayed by two hours but was ultimately rescheduled for Monday at 1 p.m.

The episode deepens a week marked by turbulence for the project. Between January 8 and 11, Trove’s token sale drew strong negative reactions after the team altered the smart contract to extend the ICO deadline just five minutes before closing, then reversed the decision about 14 minutes later.

This series of contradictory announcements directly impacted a Polymarket betting market, catching traders in the midst of repositioning. One participant reportedly incurred losses close to $73,000 on a bet that would have yielded only about $200 if successful.

Controversies did not end there. On-chain investigator ZachXBT pointed out that approximately $45,000 in SOL, from Trove’s fundraising accounts, had been transferred to predictive market platforms. In response, Unwise stated that the funds were paid to an influencer as part of promotional efforts and that the subsequent transfer to these markets was an independent decision by the recipient. ZachXBT noted that this explanation would amount to an admission of undisclosed paid promotion.

Community reaction was immediate. On social media, many investors expressed dissatisfaction with the change of plans and requested refunds for their investments in the token sale, questioning the project’s governance and communication. Trove had planned to launch its mainnet on Hyperliquid on February 10, with full token unlock at the generation event, a schedule now uncertain due to the migration to Solana.

Losing the infrastructure that supported its initial model, Trove states it will rebuild its perpetual exchange from scratch on the new blockchain. The project is trying to regain market trust amid one of the most turbulent launches early in the decentralized finance sector this year.