Trove faces investor backlash after pivoting from Hyperliquid to Solana

The Trove token team is facing backlash from investors after announcing it will use funds originally raised for a Hyperliquid-based chain to pivot to the Solana ecosystem, Cointelegraph reported. The team had raised $11.5 million in a token sale premised on Hyperliquid integration but revealed the change in development direction ahead of its token generation event. Trove stated that it plans to allocate $9.4 million of the total funds to build a perpetual DEX on Solana, describing it as the only path for the project's survival. However, some investors have protested the sudden shift and demanded refunds. Trove has refunded $2.44 million to date and plans to issue an additional $100,000 in refunds.