In a move that has sent shockwaves through the DeFi community, Trove Markets, a highly anticipated cross-chain aggregation platform, announced late yesterday that it would abandon its planned Ethereum Virtual Machine (EVM) based infrastructure and execute an immediate pivot to the Solana blockchain. The announcement came barely four hours before the scheduled Token Generation Event (TGE) for its native token, $TROV.
The TGE, which was set to launch $TROV publicly, has been indefinitely postponed. CEO Anya Sharma released a terse statement citing ‘critical scaling limitations’ discovered during final load testing on the legacy network. Sharma emphasized that the decision was made to ensure the long-term viability and performance of Trove’s complex staking and aggregation protocols, claiming that Solana’s high throughput and ultra-low transaction costs were necessary to future-proof the platform against high demand.
The immediate fallout has been fierce. Many early investors and community members, who bought into the private sale rounds with the expectation of an EVM-compatible token, expressed outrage on social media platforms, demanding clarity regarding their token allocations and vesting schedules. Critics argue that such a sudden, last-minute pivot suggests poor architectural planning or panic over unforeseen network fees.
Trove Markets attempted to assuage fears by confirming that all pre-sale investments remain valid. However, the necessary rewrite and auditing of smart contracts from Solidity (EVM) to Rust (Solana) are expected to cause a minimum delay of six to eight weeks. The company stated it is working around the clock to finalize the technical migration and aims to provide a new launch date within the next two weeks, marking a dramatic and risky transition for a project on the cusp of market entry.
Source: Trove Markets announces sudden pivot to Solana, hours before token is set to go live
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