The ICO of Trove Markets recorded commitments exceeding 5x the original fundraising target. As one of the first HIP-3 projects on Hyperliquid, Trove has attracted attention from the community.
What is Trove?
Trove Markets is a decentralized perpetual exchange (perp DEX) that allows users to trade synthetic indices representing collectibles, real-world assets (RWAs), equities like Pokemon cards, CSGO skins, Popmart and prediction markets with up to 10x leverage.
Launched in public beta in late 2025, the platform aims to make illiquid assets tradable by using oracle-based pricing to create liquid markets. It operates on the Hyperliquid, using USDH as the base stablecoin for trading.
The project emphasizes real-time data, transparency, and cultural relevance, targeting traders interested in speculating on non-traditional assets like Pokémon cards or political outcomes.
How does Trove work?
Trove focuses on the concept of “perps on anything,” enabling leveraged trading on assets that are typically illiquid or difficult to access. Rather than supporting direct trading of individual collectible items, Trove offers perpetual contracts based on composite price indices that represent groups of similar assets with shared cultural or economic characteristics.
By using composite indices, Trove smooths volatility, reduces distortions from individual trades, and provides a more stable foundation for derivatives trading. Because collectible assets often have low liquidity and irregular trading activity, Trove price indices are updated through asset specific adjustment cycles rather than every block.
These mechanisms help limit short term price manipulation while maintaining sufficient price stability for perpetual contracts. Trove also applies price fluctuation limits to mitigate the impact of abnormal or sudden price movements.
Markets currently offered on Trove include:
Collectibles
- Pokémon, Charizard, CS2, Birkin Bags, Watches
- Oracle-priced (Pokedata.io, Pokemonpricetracker.com)
RWAs
- Oil Futures
- Synthetic exposure to real-world commodities
Equities
- Rivian Automotive (RIVN-USDH)
- Rocket Lab (RKLB-USDH)
Prediction Markets
- Sports & political events
- Integrated with Polymarket
- Leverage-enabled speculation & hedging
$TROVE Token Information
$TROVE Key Metrics
- Token Name: Trove
- Ticker: $TROVE
- Token Type: Governance & Utility
- Total Supply: 1B $TROVE
- Contract Address (CA): TBA
$TROVE Token Use Case
- Staking
- Governance
- Trading Incentives: $TROVE is used to reward active traders, liquidity providers, and participants in points programs
$TROVE Token Listing
- Listing time: TBA
- Confirmed CEX listings: TBA
- $TROVE pre-market price (on Whales Market): TBA
$TROVE Tokenomics & Fundraising
Tokenomics
Total Supply: 1B $TROVE
Allocation:
- Community Rewards: 38%
- Growth & Ecosystem: 20.5%
- Treasury: 10%
- Investors: 10%
- ICO: 12.5%
- Team: 6%
- Liquidity: 3%
Fundraising of Trove Markets
Trove Markets successfully raised $2.5M at a $20M valuation through its ICO (Initial Coin Offering), with 12.5% of the total token supply allocated for sale.
The ICO used an overflow model that accepted all capital commitments without limits on timing or order. Instead of rejecting contributions once the target was reached, all commitments were collected and any excess was refunded proportionally.
For example: If a participant committed $10K and the total oversubscription ratio was 4.77x, the participant would receive approximately $2.1K worth of tokens, with the remaining $7.9K refunded.
Trove Roadmap & Team
Roadmap of Trove Markets
Q1 to Q2 2026: Following the initial beta phase, Trove plans to expand new perpetual market indices under the HIP-3 strategic roadmap.
Q3 to Q4 2026: The project targets the $TROVE TGE, with token distribution based on Snapshot Points results and the completed ICO.
2027 and Long Term:
- Trove plans to expand further into equity perpetuals such as Nintendo and Popmart, and integrate additional prediction market data sources such as Kalshi to broaden its product offering.
- Governance will also be activated, allowing $TROVE holders to vote on markets, fees, emissions, and growth initiatives.
Team
Trove Markets is led by @unwisecap, a pseudonymous founder known for strong community engagement. Other team members have not yet been publicly disclosed. Whales Market will provide updates as more information becomes available.
Conclusion
With its vision of perps on everything, Trove Markets is taking a different approach by bringing real world and culturally relevant assets onchain to create new types of markets beyond traditional altcoin trading.
The ICO being oversubscribed by more than 5x highlights the strong interest from traders in Trove Markets and its product direction.
FAQs
Q1. What makes Trove Markets different from traditional perp DEXs?
Trove Markets specializes in perpetual markets for illiquid and non traditional assets by using oracle priced indices instead of direct spot trading.
Q2. How does Trove Markets prevent price manipulation?
The protocol uses custom index update cycles, oracle aggregation, and price fluctuation limits to reduce short term manipulation risks.
Q3. What types of traders is Trove Markets designed for?
Trove Markets is built for traders seeking leverage exposure to niche assets such as collectibles, RWAs, equities, and prediction markets.
Q4. What role does $TROVE play in the Trove Markets ecosystem?
$TROVE is used for governance, staking, and incentivizing traders, liquidity providers, and ecosystem participants.
Q5: What is $TROVE token pre-market price?
Currently, $TROVE token is listing upcoming on Whales Market. Whales Market is the leading pre-market DEX platform to trade pre-TGE tokens and allocations, with over $300 million in volume, no middlemen, trustless and on-chain.
Q6: What is the price of $TROVE token today?
While $TROVE hasn't been listed yet, users can trade $TROVE token pre-market on Whales Market, the best Pre Market trading platform and best Prediction Market betting site before the TGE. Here you can trade $TROVE token before the asset gets listed on leading CEXes like Binance, Bybit or OKX.