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Trove Markets, a major player in fundraising, has recently gained attention, but not for good reasons. It launched a funding round with an FDV of $20M, originally aiming for only $2.5M, but ended up raising $11.5M — the excess funds are refunded according to the rules. Sounds good, but the story that follows is quite ironic.
On the first day of $TROVE's launch, the price plummeted, dropping by 99.95%, and the current FDV has shrunk to just $1M. From $20M to $1M, the speed of devaluation is truly shocking.
This is a true reflection of some current fundraising scenarios: big investors participate with large amounts, and the refund mechanism works perfectly; retail investors chase the hype, and after being trapped, they can only accept their loss. The "70/30 split" sounds harsh, but looking at the data, it doesn't seem far from the truth. Web3.0 sophistication is about having the ability to turn fundraising into such a game.
Big players cut and run, retail investors just pick up the pieces, a typical Web3 script
All those financing tricks, it’s just the same old story
From 20M to 1M, do they have to be so ruthless...
Another carefully orchestrated trap, retail investors always end up holding the bag
Perfect financing, timely refunds, but retail investors suffer the most
These days, financing has truly become a game of innovation
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Another show of big players cutting retail investors, the financing tricks are really top-notch
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$20M evaporated directly to $1M, how slow and embarrassing is that
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Look at their refund mechanism, then look at the chips in our hands, it's truly two different worlds
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No way, can oversubscription be played like this? Retail investors chasing in are just giving away money
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This is called Web3 innovation, boldly cutting the leek and making it obvious
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Raising $2.5M to $11.5M, the real intention is not the money
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Falling like this on the first day, what were the project team thinking, a reverse indicator?
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Even a 70/30 split is polite, this is a 90/10 split
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How come there are still people daring to chase Trove, really thinking they are the reincarnation of a leek?
Major investors really know how to play, with a perfect refund mechanism that takes care of everything, and us retail investors are just destined to take the fall
This is the real Web3 ecosystem, where's the promised decentralization?
Big players harvesting retail investors so blatantly, still need to give a thumbs up and praise
I'm done, another template story of a financing scam
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Another big show of cutting leeks, retail investors are still chasing the rise while the big players have already left
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From 20M to 1M, this speed is incredible, that's just how the crypto world is
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Perfect refund mechanism? Haha, as long as it works perfectly for the big players
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The 70/30 split is indeed correct, just look at these data
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The larger the financing limit, the more dangerous it is, really
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A typical case of hitting the peak immediately after going live, are people still bottom-fishing?
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The "rules" of big players are perfect, the "rules" of retail investors are to accept defeat
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This is the real face of Web3, don't be fooled by the propaganda
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A 99.95% drop, I need to take a break before I can speak
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Raised $11.5M but went live and was immediately cut in half, isn't that a bit outrageous
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The big investors' refund mechanism is perfect, retail investors are trapped and accept it, this is the reality of web3
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Fallen from $20M to $1M, how is it happening so fast, quite interesting
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Another classic case of rug pulling, learned the lesson
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So raising a large amount of funding isn't necessarily a good thing, it might indicate more problems
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A 99.95% decline is truly incredible, how many people got caught
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Web3 fundraising is all about this, big investors come and go freely, retail investors take the hit, cycle repeats
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It's the same old trick of a fundraising feast paid for by retail investors, used to it
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$20M to $1M, the speed is so fast it feels like playing a rug pull simulator
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The oversubscription refund mechanism is perfect; after listing, it crashes like a dog—this is Web3 "innovation," right?
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Big players eat the meat, retail investors drink the soup, and they still have to be locked inside waiting for a miracle—laughs
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Isn't $TROVE just a replay of the script where the fundraisers show off muscle and retail investors become the bagholders?
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Honestly, I no longer want to complain about these fundraising projects; they are too routine
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From $20M to $1M, this wave of decline is basically testing the limits of people's psychological endurance
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The fundraising and perfect refund mechanism are perfect; only the token price is imperfect. Coincidence?
Retail investors were also cut again. Why can't the promised refund mechanism protect them?
This financing model is truly an art form.
Financing 20M instantly drops to 1M. I wonder how many people had to take over.
Is Web3 really like this? I thought it could change the world.
Big players come and go freely, retail investors take the loss. These game rules are clearly written.
I no longer believe in the excuse of oversubscription refunds; it's all a sham.
The TROVE case should be included in textbooks as a real-life example.
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So this is what Web3 innovation is all about, learned something new
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The refund mechanism for big investors is truly more perfect than our insurance, isn't it ironic?
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From 20M to 1M, the speed of shrinkage is really impressive, I almost thought I saw the wrong number
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Why don’t retail investors chasing the rally get any risk warnings? Or is this just part of the costs?
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The 70/30 split is indeed harsh, but with the data in front of us, it seems undeniable
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Perfect refunds after financing, perfect drop to the limit after listing, it's just too perfect
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This is the true face of Web3, we've heard enough of the nice words