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📖Overview

Blackhole is a next-generation decentralized exchange (DEX) built on the Avalanche blockchain. It serves as a specialized liquidity hub designed to support emerging blockchain projects and empower community participation in the growth of Web3 ecosystems.

Through the implementation of Genesis Pools, Blackhole introduces an innovative mechanism for pre-TGE liquidity creation, enabling community users and projects to collaboratively fund liquidity pools. This collaborative liquidity provision model gives projects the opportunity to provide project tokens while simultaneously driving immediate engagement for community supporters that provide the other side of the liquidity pair.

Blackhole’s improved vote-escrow tokenomics model further supports on-going liquidity, aligning incentives among all stakeholders through a decaying emissions schedule that ensures token stability over time. This approach is complemented by perma-locked and burned governance token allocations for the team and collaborating projects, removing sell pressure and ensuring alignment with the protocol’s long-term growth objectives.

In addition to serving as a liquidity hub, by offering a tailored experience for gaming and AI projects, Blackhole provides a unique opportunity for participants to earn rewards, engage in ecosystem governance, and contribute to the growth of the platform by supporting emerging projects proactively.

Improved ve3,3 tokenomics

Blackhole introduces key improvements to the vote-escrow ve(3,3) model by introducing two distinct types of veNFTs: Singularity veNFTs and Supermassive veNFTs. The latter is a special veNFT that can only be minted by removing $BLACK tokens from supply permanently. In addition, by participating in our open marketplace for incentives with weekly deposits, partners can incentivize veNFT voters to vote for liquidity incentives to be directed to their liquidity pools, aligning them with their unique strategic objectives.

AMM Offering

We offer a comprehensive suite of Automated Market Maker (AMM) models, including Concentrated Liquidity AMM, Classic UniV2-style AMM, and Stablecoin AMM, catering to a wide range of liquidity provisioning strategies.

AMM Modularity

Leveraging the integration of Algebra Integral, our AMMs support fine-grained customization through the implementation of diverse plugins, enabling partners to optimize market-making functionalities to their specific requirements.

How It Works

The protocol facilitates token swaps and collects fees from traders to incentivize liquidity. Each epoch, liquidity providers (LPs) receive rewards in the form of $BLACK token emissions based on the votes their pools gather. Only staked liquidity in the protocol gauges earns emissions.

Participants can lock their $BLACK to vote on the upcoming epoch's emission distribution, becoming veBLACK Voters. These veBLACK Voters are rewarded in proportion to their locked amounts with all protocol trading fees from the previous epoch and any additional voter incentives from the current epoch.

Epochs

An epoch is a 7-day period that starts every Thursday at 00:00 UTC and ends Wednesday at 23:59 UTC. Votes, emissions, fees, and incentives are all calculated on a per-epoch basis.

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