GM Blackholers, we have exciting news: Blackhole is officially launching on Avalanche C-Chain! Discover everything you need to know about our big debut: the target launch date, our Token Generation Event (TGE), how $BLACK will be distributed, and the exclusive veBLACK partner rewards programs.

Blackhole is scheduled to go live on Avalanche C-Chain on July 11th including the pools from our launch partners. These will have gauges set up to enable voting for veNFT holders.

On July 16th the $BLACK Token Generation Event will take place and at the same time the Airdrop claims will be live.

Revised TGE - Airdrop Claim planning

• 6 PM PT - Tuesday July 15th

• 9 PM PT - Tuesday July 15th

• 1:00 AM UTC - Wednesday July 16th

• 5 AM GST - Wednesday July 16th

• 6:30 AM IST - Wednesday July 16th

Worldtimebuddy: link

The first epoch flip will take place on Thursday July 17th at 00:00 UTC.

As announced in our recent Airdrop blog, at the Token Generation Event, all team and foundation tokens have been burned to mint Supermassive veNFTs, permanently removing them from circulation. This means zero sell pressure from vested insiders, ever. The liquid supply at TGE is in the hands of the community:

• Total Community Ownership: Every token in circulation at TGE launch goes directly to the community.

• Decentralized Governance: All recipients receive a Supermassive veNFT, granting voting power and a share of protocol revenue—users can also stake their $BLACK airdrop for singularity veNFTs or increase the size of their Supermassive veNFT.

• Ecosystem Synergy: Partner communities from top DeFi and NFT projects are included, driving collaboration and shared growth.

By giving 100% of the supply to the community, Blackhole and its partners are building a truly decentralized and resilient ecosystem.

Community Airdrop

Community airdrop recipients will receive a free Supermassive veNFT along with their liquid $BLACK allocation. They can use this veNFT to boost their Supermassive's voting power by an additional 10%. This feature further aligns community incentives, allowing holders to earn revenue from Blackhole's ve3,3 flywheel.

Voting Incentives

40 million $BLACK tokens are earmarked to be purposefully deposited to either complement bribes from partner projects or to encourage increased voting participation in vital liquidity pools.

Liquidity Pool

10 million $BLACK will be used for seeding $BLACK Liquidity Pools.

Ecosystem and Public Goods

Fees earned by the Ecosystem and Public Goods will be used to support growth initiatives in the Avalanche ecosystem and incentivizing strategic liquidity pools.

Superverse Foundation

Rewards generated by the Superverse Foundation’s Supermassive will be used to strengthen its ecosystem in multiple ways. This could include offering voting incentives for liquidity pools, conducting buybacks, token burns, and other supportive initiatives.

Community Acceleration Fund

The Supermassive Community Acceleration Fund will earn protocol fees that are going to be used for incentive programs aimed at providing locked veBLACK rewards to key contributors of the Blackhole protocol. For example, partner projects, LP providers and/or veBLACK holders and voters, engaging in the Blackhole flywheel in positive sum ways can qualify for veBLACK grants. This not only provides lasting value to our committed value-add partners but also helps attract new projects, fostering a thriving and sustainable Blackhole community.

Team

All team tokens have been permanently burned and converted into Supermassive veNFTs. This decision was made to promote the long-term health of the protocol and its ecosystem, while also eliminating any potential future sell pressure from vested team tokens.

The Foundation will allocate a portion of its veBLACK voting power to support and maintain healthy liquidity levels for the protocol by voting on $BLACK token pairs on an ongoing basis.

As we stand on the brink of Blackhole's launch on Avalanche C-Chain, this is your chance to be part of a pioneering DeFi journey. Join us as we unlock new possibilities with the $BLACK Token Generation Event and exclusive veBLACK rewards. Together, we will shape the future of decentralized finance, starting with the guarded launch that ensures security and stability for all. Don’t miss out on this thrilling opportunity to contribute, vote, and grow with the Blackhole community.

The emissions schedule will comprise four distinct phases:

• Phase 0 - Singularity (epoch 0): This is the initial phase and will begin with a distribution of 10M BLACK tokens.

• Phase 1 - Event Horizon (epoch 1-14) Token distributions will increase by 3% with each new epoch to incentivize early adoption and participation in the protocol.

• Phase 2 - Accretion Disk (epoch 14-66): Token distributions will gradually decrease by 1% per epoch to manage inflation and support long-term sustainability.

• Phase 3 - Hawking Radiation (epoch 67 => ): The rate of token distribution will be adjusted dynamically. The number of distributions, with respect to the previous epoch, may increase by 1%, decrease by 1%, or remain the same each epoch, based on votes from Supermassive veNFT holders. This governance model empowers stakeholders to influence the token's economic policy and respond effectively to changing market conditions. The launch date for Phase 3 is flexible and may be moved forward based on market conditions. This approach allows the protocol to adapt proactively to emerging challenges and opportunities, ensuring an optimal balance between incentivization and stability.

All veNFT holders receive a rebase proportional to protocol token emissions and to the ratio of locked to circulating supply, reducing vote power dilution.

The weekly rebase amount is calculated with the following formula:

This rebase formula will reward veNFT holders most when locking rates decrease, incentivizing new lockers to step in. veNFT supply does not affect weekly emissions distributed to liquidity providers.

A Guarded Launch is a phased deployment approach that intentionally restricts certain protocol functionalities at the outset, gradually expanding access as the system demonstrates stability and security. This model is increasingly recognized in DeFi as a best practice to mitigate risks during the critical early stages of a protocol’s lifecycle.

At launch, the ability to create new liquidity pools on Blackhole will be restricted to a whitelist of approved addresses. This step allows the team and community to closely monitor system performance, address any unforeseen issues, and prevent malicious actors from exploiting potential vulnerabilities during the protocol’s most vulnerable phase. Once Blackhole demonstrates consistent reliability and passes rigorous security and performance benchmarks, permissionless pool creation will be enabled. At this stage, any user will be able to create new pools, marking the protocol’s transition to full decentralization and open participation.

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Twitter: https://x.com/BlackholeDEX

Discord: https://discord.gg/blackholedex