TI First Sight - BlackHole Protocol

TI Research

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BlackHole Protocol is a decentralized cross-chain token destruction platform based on the Ethereum network. Its feature is that other tokens can be "destroyed" without the permission of other protocols and exchanged for new tokens. The specific implementation mechanism is as follows:

  • To achieve the destruction of tokens, users need to first hold the native currency $BLACK of the BlackHole Protocol, and the token X that they want to destroy to form a currency pair combination and put it into the burning pool.
  • In the burning pool, X tokens will be permanently destroyed, and $BLACK tokens will be destroyed by 20%;
  • After the burn is over, the user will get the new token Y issued by the project party, and 80% of $BLACK;

In essence, BlackHole provides an "old currency for new currency" service. Users who want to exchange the old currency for the new currency need to use $BLACK to pay a certain fee, and the charged $BLACK will be directly destroyed;

The most fundamental question about market demand is whether the developer or project issuing tokens has a demand for "renewal of tokens". If such demand exists, it is also necessary to consider whether there is a need for external channels to help users exchange new coins. If developers who issue new coins support trade-in according to certain rules, BlackHole's participation incentives will not be so strong.

Token destruction mechanism, source: BlackHole.com

Basic Information

Development Process, IIO/IEO/IDO

Since the release of the white paper in March 2021, BlackHole Protocol has successively completed seed rounds of financing (the specific institutions are disclosed below), and have reached strategic cooperation with Chainswap, Westarter, Bounce.Finance, NULS and other projects; and the project is continuing to recruit KOL and other ambassadors; The IDO whitelist will be opened on Bounce.Finance from April 26 to 28; a public offering round will be held from April 26 to 29; IIO&IEO&IDO is issued in a multi-platform, multi-chain, and multi-form exchange method, with a total exchange amount of 100,000 USDT; See the figure below for specific information:

BlackHole Protocol IDO/IEO/IIO information, source: chainnew


Token Information

Token name: $BLACK

Type: ERC 20

Total tokens: 100,000,000 (100 million)

Contract address: 0xd714d91A169127e11D8FAb3665d72E8b7ef9Dbe2

Token distribution ratio and unlocking rules:

  • 50% mining; 10% belongs to the ecological fund, released in one year;
  • 10% belongs to the team, released in one year;
  • 5% marketing activity;
  • 5% initial liquidity;
  • 5% of institutional rounds of fundraising, released in one year, 25% released after the end of LBP, and linearly released after 90 days;
  • 10% KOL round, released in one year, 25% released after the end of LBP, and linearly released after 90 days;
  • IDO first round 1%, IDO second round 1%, LBP 3%, no lock-up.


Seed round: 9 institutions including NGC Ventures, AU21 Capital, X21 Digital, Power Law Capital, ShinChan, Oasis Capital, Crypto Times, 0xAlpha, BigCoin Capital;

PE round: investment from five institutions including Gate Labs, MXC Labs, Redline Capital, and Heartbit Accelerator, etc.



TI Research

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