Trove Markets says it will rebuild its perpetual DEX on Solana after a liquidity partner allegedly withdrew 500,000 HYPE tokens. The TROVE token sale ran Jan. 8–11 and the token generation event remains scheduled for Monday at 16:00 UTC, but Trove says the move and refund processing will take additional time. The project raised over $11.5M in the sale and separately spent $20M to acquire 500,000 HYPE for a Hyperliquid stake; community members are demanding refunds and sleuths flagged suspicious HYPE transfers on Hypurrscan. Trove also plans to focus perpetuals trading on collectibles like Pokémon cards and CS2 skins.

Trove announced an unexpected pivot from Hyperliquid to Solana after an alleged withdrawal of 500,000 HYPE; Trove had an ongoing token sale (Jan. 8–11) and a TGE scheduled for Monday 16:00 UTC but said refunds and the rebuild require more time. The project raised >$11.5M in the sale and spent $20M to acquire 500,000 HYPE for a Hyperliquid stake; community backlash and flagged suspicious HYPE transfers were reported.