I saw many big KOLs participating in @TroveMarkets before, and I almost jumped on the bandwagon myself, but I managed to pull back. Looking back at the whole thing now, it doesn't feel like a "failed product," but rather a classic example of a collapse in trust. The nature of the problem changed the moment the project funds were taken to the casino. This wasn't a matter of team capability, but rather a complete lack of understanding of the fundamental principles of "who owns the money, how it should be spent, and how it should be disclosed." Subsequent actions validated this: paid shilling, undisclosed promotions, the tug-of-war tactics of prediction markets, and constantly changing timelines… every step shifted uncertainty onto retail investors, leaving certainty for those with earlier information and closer access to the stakes. The most outrageous aspect was the combination of the fundraising structure and TGE: a large sum of money was raised, but virtually no money was spent to add liquidity… the IPO felt like a deliberately designed meat grinder where "first come, first served." The 90% drop after opening wasn't due to a sudden market downturn, but because the scheme itself wasn't designed to provide an exit strategy. So, is it ultimately a soft rug or a scam? Many people focus on the narrative, roadmap, and partners, but what truly determines success or failure is the project's discipline with funds, respect for disclosure, and sincerity regarding liquidity during listing. Trove lacked almost all three. 😂 From now on, if I see a similar ICO: anonymous team + aggressive marketing + oversubscription without clear refund/fund usage + delayed TGE + meager liquidity, I'll immediately categorize it as a "high-risk asset." I've suffered losses several times using the "maybe it will reverse" mentality; I won't rely on wishful thinking anymore. The most expensive thing in the market isn't losing money, but paying for the same lesson twice.

Thankfully, I didn't fight or participate...

It's quite popular in the West, and many people have participated, which only makes this already illiquid market even worse.