Trove’s Pivot from Hyperliquid to Solana Sparks Backlash: Investors Demand Refunds
Another day, another protocol pivot—and this time, backers aren't having it.
Trove, a project that had initially staked its future on Hyperliquid, has abruptly shifted its entire infrastructure to Solana. The move, announced without a clear migration path for existing commitments, has investors scrambling and demanding their money back. It's the kind of strategic swerve that makes you wonder if the roadmap was written in pencil.
The Great Chain Migration
Building on Hyperliquid offered certain advantages—theoretical speed, a specific developer niche. But Solana's raw throughput and surging ecosystem apparently proved too tempting to ignore. The team framed it as an upgrade, a necessary leap toward scale and liquidity. For backers who funded the original vision, it feels more like a bait-and-switch.
Refund Season Is Open
The backlash was instant. Community channels flooded with requests to claw back funds. The core grievance? A fundamental change in the project's value proposition and risk profile after capital was already secured. It's a stark reminder that in crypto, your investment isn't just in the team—it's in their chosen stack. When that stack changes, your investment thesis might just crumble.
A Familiar Story in a New Wrapper
Let's be cynical for a second: this is portfolio management disguised as innovation. Ditching one blockchain for a hotter one is a great way to generate headlines and maybe attract fresh capital. It's less great for the early supporters left holding a bag for a project that no longer exists in the form they backed. A classic case of 'move fast and break promises.'
Ultimately, Trove's gamble highlights the fragile trust in web3. Developers chase momentum, while investors are left to hope their allegiance is more than just a line item on a pivot spreadsheet. The Solana build may be technically superior, but if it burns your earliest believers, what's really being built?
Trove Says Liquidity Partner Withdrawal Forced Solana Pivot
Trove revealed the shift in a post on X on Friday, describing the decision as a response to changes in its operating constraints.
One of the project’s builders, known as “Unwise,” later said the pivot was prompted by a liquidity partner withdrawing 500,000 Hyperliquid (HYPE) tokens that were required to support the planned integration.
“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 wrote.
The TROVE token sale ran from Jan. 8 to Jan. 11, with the token generation event now scheduled for Monday at 4:00 pm UTC.
Trove said the Solana transition, combined with refund requests, has delayed its timeline. “Due to the move to Solana and the refund processing, we need more time to execute this correctly,” the team said.
The controversy is amplified by earlier funding decisions. In November, Trove raised a separate $20 million to acquire 500,000 HYPE tokens required for Hyperliquid’s mandatory HIP-3 stake, a slashable bond designed to secure new perpetual markets.
Critics argue that abandoning Hyperliquid after making that commitment undermines trust with early supporters.
Several users on X have demanded immediate refunds, arguing that contributors backed a Hyperliquid-based product, not a Solana-native one.
“People did not invest in your ICO for you to launch on Solana,” one user wrote, while others urged Trove to return funds and relaunch under revised terms.
refund the people now!!!
you raised to money to build on hyperliquid!
Give back the money and raise on solana if you think that's what your community really wants
Trove plans to build a perpetual trading platform focused on collectibles such as Pokémon cards and Counter-Strike 2 skins, a niche Bitwise estimated in September could grow into a $21.4 billion market.
The team says Solana’s infrastructure is better suited to that vision.
Meanwhile, blockchain investigator ZachXBT has flagged several Trove-linked transfers into casino deposit addresses involving HYPE tokens.
Want to explain to the community why your team bridged $45K from the Trove Angel Round raise on Jan 11 and deposited it directly into a casino deposit address?
Source address
7nRNzRX2WQ3WxV3eV6gDeJeWTApqefuXNXQRZ1xEh1eh
Destination address… pic.twitter.com/6sdjiLo8GW
Trove Token Sale Turmoil Sparks Governance Questions
As reported, the public token sale for Trove Markets descended into controversy after late-stage changes and mixed messages disrupted what had initially been a smooth fundraising process.
Conflicting announcements around whether the ICO WOULD be extended created confusion among participants and raised concerns about decision-making and transparency.
Trove first said the sale had surpassed $11.5 million and would include pro-rata refunds ahead of the token generation event, before announcing an extension to improve distribution.
Hours later, the team reversed course, calling the extension a mistake and confirming the original end date, acknowledging that feedback from early supporters and large allocators had influenced the brief change.
