Catenaa, Thursday, January 22, 2026- Trove Markets, a planned decentralized perpetuals exchange for collectibles, abruptly shifted its platform from Hyperliquid to Solana just hours before its TROVE token was set to go live.
The move follows the withdrawal of a key liquidity partner, who exited a 500,000 $HYPE stake worth roughly $12.5 million.
The staking requirement, part of Hyperliquid’s HIP-3 infrastructure, acts as a security bond for deploying perpetual markets. With the partner’s exit, Trove lost access to the infrastructure supporting its product.
The TROVE token generation event (TGE) was initially delayed by two hours before being postponed to Monday at 4 p.m. UTC.
The team cited the loss of Hyperliquid access as the reason for rebuilding the perpetual DEX on Solana from scratch.
The pivot comes after a turbulent week for Trove. Its January 8–11 token sale saw last-minute smart contract changes and reversal decisions that disrupted Polymarket traders, with at least one losing $73,000 on a failed wager.
Additionally, blockchain investigators flagged $45,000 in SOL from Trove’s fundraising accounts moving to prediction market platforms, which the team said resulted from payments to an influencer who independently redirected the funds.
The TROVE token has not yet launched or begun trading on spot markets. The project’s mainnet launch, originally scheduled for February 10 on Hyperliquid, will now be rebuilt entirely on Solana, marking a significant strategic and operational shift. Investor and community reactions on social media have been largely negative, with requests for refunds following the announcement.
