what's trove?
TROVE is a cryptocurrency project focused on the innovation of perpetual futures trading for collectibles. It aims to bridge traditional collectible markets with decentralized finance by enabling users to trade perpetual contracts on assets like rare items, art, or memorabilia without physical ownership. The platform operates on blockchain technology, leveraging smart contracts to ensure transparency, security, and accessibility in a permissionless environment. The core mechanics involve perpetual swaps, where traders can go long or short on collectible indices or specific items, with funding rates to keep prices aligned with underlying values. TROVE's beta phase introduces early access features for users to explore these markets, potentially integrating with existing DeFi protocols for liquidity and oracle price feeds. As an emerging protocol, TROVE emphasizes community involvement through invite-based access, fostering a dedicated user base before full launch. It positions itself at the intersection of NFTs, real-world assets, and derivatives trading.
Trove is cited for incentive-aligned ownership model amidst past ICO failure, theft, and fund misuse.
Links
x.com/trovemarketsA wallet associated with Hayden Davis lost approximately $100K trading TROVE within the past five days as of February 16, 2026.
Cited as an example of a project implementing an ownership model that aligns incentives between deployers and token holders.
Experienced an alleged theft or loss event involving over $10 million from users.
Changed chains before token generation event
ICO imploded, characterized as a scam playbook where retail users served as exit liquidity and insiders captured most value.
is under investigation by ZachXBT regarding misuse of angel round funds that were bridged and sent to a casino deposit address
Experienced 97% price decline following TGE, launching at $0.02 and trading down to nearly zero.
Experienced a rug pull event on January 20, 2026.
marketing team member deleted social media accounts on January 20, 2026
Founders remain undoxxed and unknown.
Launched with market cap of 723,000 dollars and 54,000 dollars in liquidity at TGE.
Token launched on Solana and traded down approximately 95% within the first hour, reaching an FDV below $1M.
Launched token on Solana with approximately $500K in initial liquidity provided entirely by the team, with liquidity pool not locked, creating honeypot conditions.
Allegedly conducted presale rug pull for approximately $500K prior to the ICO.
TGE (Token Generation Event) has been delayed from its originally scheduled time.
Selling 500K $HYPE tokens while simultaneously closing short positions that were used as a hedge.
Launching on Blast blockchain
Announced pivot to Solana on January 18, 2026, hours before token launch.
ICO is facing significant FUD (fear, uncertainty, and doubt) in the market.
Achieved over $90 million in trading volume while maintaining a market cap below $600,000.
Airdrop is scheduled to occur soon in conjunction with the TGE.
Completed $11.5 million token sale that sparked community backlash
Refunded KOLs $100K via stablecoin transfers after $11.5M ICO collapsed and $TROVE dropped 99%, while presale participants lost funds, keeping $9.4M. Extended ICO duration by 5 days, manipulated prediction markets, pivoted from Hyperliquid to Solana deployment.
Will launch mainnet on February 10, 2026, with a mobile app coming soon.
Introduces TLP liquidity provision mechanism to provide instant liquidity for perpetuals trading.
Reached $1M in ICO commitments within the first 30 minutes of launch.
Testnet reached over $1B in trading volume.
Allocates 70% of fees to token buybacks and user rewards.
conducts ICO raising $2.5M at $20M FDV with 100% token unlock at TGE
angel investors receive 50% unlock on TGE with remaining tokens vesting over 3-6 months
has 6 engineers working on the protocol with two co-founders
ICO expected to occur by January 31, 2026
Advisor at trove expresses positive opinion on the ICO structure, citing small raise, low FDV, overflow mechanics, and user allocation percentage.
TheFlowHorse joined trove team in an advisory capacity with compensation.
Trove launches 24/5 equity feeds through partnerships with Pyth Network and Injective, and adds global equity FX repricing functionality to HIP3.
Public beta goes live, transitioning from the private beta that was previously in internal testing with over 40,000 applications.
Trove partners with Kalshi, a CFTC-regulated prediction market platform with over 2 million users, expanding U.S. market access. The private beta is live for internal testing with over 40,000 applications submitted and includes a points system where early activity counts toward future rewards.
Trove holds $15M in spot reserves available to complete HYPE token purchases for HIP-3 deployment.
New markets go live on Trove featuring Tokyo Stock Exchange assets including Nintendo and Pop Mart, powered by SEDA.
Trove raised $20M to purchase $HYPE tokens for its launch as a HIP-3 market for collectible perpetuals.
Trove halts HYPE token purchases despite opportunity to rectify an unspecified mistake.
Trove resumed buying HYPE tokens but the resulting price increase slows their accumulation progress toward the 500K target required for HIP-3 markets deployment.
Trove has purchased 88,959 $HYPE tokens out of 500K required for deploying HIP-3 markets on Hyperliquid.
Epoch announces it has taken a stake in the project.
Kalshi powers the prediction market perpetuals in collaboration with Hyperliquid's HIP-3.
The platform is in the process of launching via HIP-3.
A points farming system is active with users sharing strategies to accumulate points.
Beta program is live with whitelist access via invite codes being distributed by community members.
The project received seed funding from 800 retard capital and features Pokémon perpetuals.