BlockBeats news: On January 19, Trove, a project planning to build a perpetual contract DEX, aims to provide leveraged trading for non-traditional assets such as collectibles, RWA (Real World Assets), stocks, and prediction markets. Initially positioned as a project based on the Hyperliquid ecosystem, Trove completed its ICO at the beginning of this month, raising approximately $11.5 million.During this period, the community raised concerns and controversies about the project, including "paying KOLs for promotion, with funds flowing into deposit addresses of entertainment platforms" and "frequent changes in the ICO fundraising deadline."
Recently, the project suddenly announced that it would abandon the Hyperliquid roadmap and instead rebuild the entire Perp DEX on Solana. At the same time, the operators of Trove began selling off HYPE tokens. In the face of community outrage,The official explanation is that LP decided to liquidate a position of 500,000 HYPE tokens due to "recent negative sentiment," which altered the project's constraints.
Under various sophisticated operations, another on-chain analyst, @eyeonchains, analyzed the social media accounts associated with Trove founder unwise (@unwisecap).This indicates that the Trove operations team is likely from Iran, and can even be pinpointed to the Kurdish region. The main evidence is that the Telegram account associated with "unwise" contains numerous groups related to this region.