Backers Demand Refunds as Trove Drops Hyperliquid Integration on Solana

Trove Markets, a project developing a decentralized perpetuals exchange focused on collectibles like Pokémon cards and Counter-Strike 2 skins, is under intense community pressure after abruptly abandoning its planned integration with Hyperliquid in favor of rebuilding on Solana.

The shift comes just days after Trove raised over $11.5 million in a token sale explicitly tied to its Hyperliquid deployment. To launch on Hyperliquid’s HIP-3 infrastructure, the project required staking 500,000 HYPE tokens (valued at around $12.5 million at the time) as a security bond. According to developer “Unwise,” a liquidity partner withdrew this essential 500,000 HYPE position amid recent negative sentiment surrounding the project, forcing the change.

“This changes our constraints: we’re no longer building on Hyperliquid rails, so we’re rebuilding the perp DEX on Solana from the ground up,” Unwise stated on X. The team has cited Solana’s performance and ecosystem advantages as better aligning with long-term goals, but critics view the move as a major deviation from the original roadmap that attracted investors.

Backlash has been swift and vocal on social media, with numerous backers demanding immediate refunds. Community members argue that the Hyperliquid integration was a core selling point of the fundraising, and the pivot constitutes a “bait-and-switch.” Some have called for a full refund and a re-raise under updated terms, while others express concerns over transparency and potential misuse of funds. On-chain reports have also flagged suspicious HYPE token movements and transfers, with investigator ZachXBT noting unusual activity.

Trove has delayed its $TROVE token generation event (originally scheduled soon after the announcement) to accommodate the migration, refund processing, and other updates, with the latest target being January 19, 2026, at 4:00 PM UTC. The team has acknowledged community feedback and promised further details, including refund mechanisms, but has not yet confirmed widespread refunds or a timeline.

The controversy highlights ongoing challenges in crypto fundraising, where roadmap changes post-raise can erode trust. While pivots occur in early-stage projects, clear communication and investor protections are essential. As of now, the situation remains fluid, with the community awaiting concrete actions from the team.