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Trove Markets Migrates from Hyperliquid to Solana, Causing Community Backlash

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HYPE
$36.632-3.07%
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Trove Markets made a project announcement shifting from Hyperliquid to Solana after a liquidity partner withdrew 500,000 HYPE tokens. The project had raised over $11.5 million for Hyperliquid integration. Community backlash followed, with some demanding refunds. Developer Unwise said the team will rebuild the DEX on Solana. The TROVE token generation event remains on schedule for Monday. On-chain news shows abnormal HYPE token transfers detected by ZachXBT.

According to a ChainCatcher report, Trove Markets announced that it has decided to shift its development from Hyperliquid to the Solana network, as liquidity partners withdrew 500,000 HYPE tokens required for the Hyperliquid integration. Trove Markets had previously raised over $11.5 million through a token sale, which was originally intended for the Hyperliquid integration. The decision has sparked criticism from the community, with some supporters demanding immediate refunds. Trove Markets developer Unwise stated that the team will rebuild the DEX from scratch on Solana. The TROVE token generation event is still scheduled for Monday, although migration and refund processing will require additional time. Additionally, ZachXBT has detected several abnormal transactions involving the movement of HYPE tokens.

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