Trove just locked in a $2.5M raise at a $20M FDV. Here's what stands out:

No vesting on ICO tokens—clean entry for early participants. The points system stacks on top, letting holders claim additional allocations. They're running an overflow model, so it's first-come mechanics with anti-whale safeguards.

On the product side, they've spun up 10 markets on testnet already. USDH pairs are live. What's interesting here is the market mix—some themed experiments (think creature-based derivatives) that might actually hit product-market fit. The tokenomics structure suggests they're not just chasing hype; they're testing where real trading volume pools. Early testnet velocity usually signals what sticks post-launch.