Backers Demand Refunds as Trove Shifts from Hyperliquid to Solana

A Sudden Change That Shook Backers

Unhappy backers are demanding refunds after Trove Markets suddenly changed its core strategy. The project, which raised money by promising to build on Hyperliquid, announced a late pivot to Solana just days before its token launch.

For many early supporters, this was not a small technical change. It altered the very reason they joined. Some had planned to use Trove through a specific ecosystem, connecting it to their digital wallet and trading setup built around Hyperliquid. Instead, they woke up to a new roadmap they never agreed to.

This story is not just about one project. It shows how fast decisions, poor communication, and last-minute pivots can damage trust in crypto, especially when money has already been committed and expectations are already set.

What Trove Promised to Early Backers

Trove Markets launched with the idea of building a decentralized perpetual exchange focused on collectibles and niche trading markets. The big selling point was its plan to build directly on Hyperliquid, a fast-growing decentralized derivatives platform known for its performance and unique liquidity model.

Backers were told that Trove would plug into Hyperliquid’s ecosystem and use its infrastructure to offer advanced perpetual trading. This was not a minor detail. It shaped how people valued the project, how they imagined its growth, and how it would compete in the crowded derivatives space.

Trove ran a token sale that raised around $11.5 million, with many participants believing they were funding a Hyperliquid-based product. For them, the chain choice was part of the product itself. They were not just investing in a team. They were investing in a specific technical and strategic direction.

The Sudden Pivot to Solana

Just before its planned token generation event, Trove announced it was abandoning Hyperliquid and rebuilding on Solana. The team said the decision was forced, not optional. But for investors, the timing felt shocking.

Trove explained that a key liquidity partner had withdrawn support, making it impossible to meet Hyperliquid’s requirements. Without that support, the original plan could not move forward. Instead of delaying everything for months, the team chose to pivot quickly to Solana, which already has strong infrastructure for decentralized trading.

Source: Trove Markets

The problem was not only the pivot itself. It was how late it happened. People who joined the token sale expected a Hyperliquid-based product and suddenly found themselves supporting a Solana-based one. For many, this changed how they viewed Trove’s potential to become a serious contender in the race to be the best crypto exchange in its niche.

The Trigger: 500,000 HYPE Tokens and a Broken Deal

According to Trove, the collapse of its original plan came down to one critical detail. A liquidity partner had promised to supply 500,000 HYPE tokens, which were required to meet Hyperliquid’s staking and participation rules. This stake was necessary for Trove to operate properly inside the Hyperliquid ecosystem.

At the last moment, that partner pulled out. Without those 500,000 tokens, Trove could not move forward on Hyperliquid. The team said they had no realistic way to replace that support in time.

Faced with this, Trove chose to rebuild on Solana, where it could launch faster and avoid similar staking requirements. From a technical point of view, this made sense. From a trust point of view, it created chaos.

Backers were not upset just because plans changed. They were upset because the change happened after money was already raised, with no chance for them to reconsider their participation.

Investor Backlash and Refund Demands

After the announcement, social media quickly filled with angry reactions. Many early supporters said they would never have joined the sale if they had known Trove would launch on Solana. Some publicly demanded refunds, arguing that the product they funded no longer existed.

These investors felt misled. They believed they paid for one vision and received another. For some, the chain choice was central to why they decided to buy crypto through this sale in the first place.

The backlash was not just emotional. It was about trust. In crypto, early-stage projects rely heavily on belief in their word. When that word changes suddenly, confidence collapses.

Trove has not clearly committed to mass refunds. Instead, it has focused on moving forward with the new plan. That has left many supporters feeling ignored at a moment when reassurance and transparency were most needed.

Token Launch Goes Ahead Despite Controversy

Despite the uproar, Trove said it would continue with its token generation event. The launch was scheduled for Monday at 4:00 pm UTC, showing that the team did not intend to pause for long debates.

This decision itself became controversial. Some investors argued that the launch should be delayed until the refund issue and community concerns were properly addressed. Others believed that moving forward was the only way for Trove to survive.

From Trove’s perspective, stopping would mean losing momentum completely. From the community’s perspective, continuing looked like ignoring the people who funded the project in the first place.

The result is a project launching under a cloud of distrust, which is never a good starting point for a platform that depends on active users and long-term loyalty.

Conclusion: Trust, Timing, and the Cost of Sudden Change

The Trove situation shows how fragile trust is in crypto. The project raised $11.5 million by promising one direction built around Hyperliquid, then changed that direction after a key partner failed to deliver 500,000 HYPE tokens. Even if the team had no bad intentions, many backers feel they supported something that no longer exists. When expectations are set early, changing them late feels like a broken promise.

Pivots are common in tech, but crypto is different because money moves fast and belief matters more. Changing plans just days before a token launch, without giving investors a real choice, almost guarantees anger. People do not only invest in code. They invest in vision, timing, and trust. When those shift suddenly, confidence collapses.

Now Trove must do more than launch on Solana. It must rebuild belief among people who feel misled. For the wider market, this is a clear lesson: look beyond hype and promises. In crypto, success is not only about technology. It is about honesty, clarity, and respecting the people who believed first.