Blackhole Foundation Completes $132K Token Buyback for Ecosystem Development
Blackhole Foundation Completes $132K Token Buyback for Ecosystem Development
🕳️ Foundation's Big Move
The Blackhole Foundation executed a significant buyback of over 2.58 million $BLACK tokens, valued at approximately $132,000.
The purchased tokens will be allocated to support various ecosystem initiatives moving forward, demonstrating the foundation's commitment to strengthening the Blackhole ecosystem.
This buyback follows the foundation's previous token management activities, including a 20 million $BLACK token burn earlier this year for future Escape Velocity Seasons.
The foundation continues its strategy of aggregating and burning tokens to support community members and ecosystem participants.
🕳️ Blackhole Protocol Distributes $530K+ to veBLACK Holders After Epoch 20 Voting
**Blackhole Protocol** has completed epoch 20 voting, distributing over **$530,000 in rewards** to veBLACK holders. **How it works:** - Lock $BLACK tokens to obtain veBLACK - Use veBLACK to vote for liquidity pool rewards - Receive weekly distributions based on voting participation **Recent incentives added** include $13,000 across multiple pools: - $WETH.e / $KIGU - $SUPER / $BLACK - $BTC.b / $USDt The protocol operates on a **weekly voting cycle**, with epochs ending every Wednesday at 11:00 PM UTC. Previous epochs have seen substantial rewards, with epoch 18 distributing $740,000+ to voters. **Escape Velocity Season 5** remains active with rebate programs for users creating supermassive veNFTs worth 2,000+ veBLACK. Voting for the next epoch is now open at [blackhole.xyz/vote](https://blackhole.xyz/vote).
Blackhole Launches Multi-Chain Bridge for Direct Wallet Deposits
**Blackhole** has made cross-chain bridging accessible to everyone with their new multi-chain bridge feature. **Key Features:** - Bridge tokens from multiple blockchain networks - Direct deposits to any specific wallet address - Streamlined process: Bridge → Deposit → Earn The platform recently upgraded their bridging infrastructure, allowing users to **send tokens to different addresses** on destination chains. This enhancement makes asset transfers more flexible and user-friendly. **How it works:** 1. Visit the bridge interface 2. Select source and destination chains 3. Specify target wallet address 4. Complete the transfer The service aims to simplify cross-chain transactions for both newcomers and experienced users. [Access the bridge](https://blackhole.xyz/bridge)
🦃 Turkey Floats Into Blackhole
Turkey made an unexpected journey into the blackhole today on Thanksgiving. The timing coincides with the holiday celebration, creating an unusual cosmic event. - Turkey's gravitational encounter occurred during traditional feast day - Blackhole activity noted on November 27th - Holiday greetings extended despite the astronomical occurrence This marks another instance of turkey-related space phenomena during the holiday season.
6.6M $BLACK Burned in 7 Days Qualifies for Season 4 Escape Velocity Rebates
**Major Token Burn Activity** Blackhole protocol saw **6.6M+ $BLACK tokens burned** in just one week, with all burns qualifying for Season 4 of the Escape Velocity rebate program. **Key Benefits:** - Rebates stack on top of existing veBLACK holdings - **Higher voting power** for participants - Enhanced rewards through the ve33 flywheel mechanism **Recent Context:** - Season 3 previously saw 11.1M $BLACK burned over 14 days - Weekly voting rewards consistently exceed $900K for veBLACK holders - Multiple liquidity pools receiving substantial incentives ranging from $15K to $185K **How It Works:** Users who burn $BLACK tokens receive veBLACK, which provides voting rights on liquidity pool incentives. The rebate program amplifies this by giving additional veBLACK to qualifying participants. [Vote for rewards](https://www.blackhole.xyz/vote) | [Create locks](https://www.blackhole.xyz/locks)