BlackHole Protocol Single Token Burning Introduction
WAR Burning Pool goes live on July 9
Burning BLACK gets WAR
About Single Token Burning
To determine the efficiency of the burning mechanism, The single Token Burn will be using a mathematical model that follows a linear function. Putting the X token (X is used as a variable to represent the token that is being burned) in the burning pool, the algorithm will directly send it to the Blackhole address(Burning Address)
Note: The Burning curve function F(x,y) is set up to be freely configurable by the user's will. The user can collect the rewards; 1. During the whole burning process, 2. After the burning cycle.
$BLACK is a governance token that uses the BlackHole deflation burning mechanism schematic. BLACK plays a central role in the BlackHole Protocol ecology, and its value is mainly reflected in its participation in the burning business, project governance. It can be used as a medium of exchange within the ecology and for liquidity incentives, etc. BLACK With the BlackHole Protocol burning deflation, the token will converge to zero indefinitely.
WAR is the governance and equity token of the WeStarter platform, which completes the DAO operation of the platform through the governance mechanism of WAR. WeStarter is a cross-chain token initial swap platform based on the HECO network. The fluency of the product and sufficient industry resources carries the requirement of resources for various asset types. With the role of gatekeeper, through the decentralized incentive and governance mechanism of tokens, to achieve the goal of selecting high-quality assets.
Burning mainnet: HECO
Burning cycle: July 9, 20:00 (UTC+8) open, lasting 2 weeks, a total of 14 days
Burning reward: 50,000WAR (HECO), linear release (you can come to burn at any time during the validity of the burn pool, the number of rewards depends on the proportion of your weight in the burn pool)
As strategic partners, BlackHole Protocol and WeStarter have been cooperating closely around the initial token exchange, quality asset cross-referral, cutting-edge research, and ecological resource sharing. Strengthen the correlation interaction between the two brand projects community users, and try more possibilities for community activity and new user growth.
As the first burning pool in V0.1 Fermion, we prioritize providing burning business and recommending projects with value potential to the BlackHole Protocol community and BLACK supporters.
In the DeFi world, all governance mechanisms are in their infancy. We hope to be the first in the V0.1 Fermion release to have BLACK users participate in the burning experience to provide more informative feedback and suggestions for the BlackHole Protocol committee plan and governance mechanism 1.0.
How to Burning Token
STEP 1: Open https://blackhole.black Click [Launch APP] to enter the v0.1 dapp page, connect the wallet (choose the mainnet according to the burning pool rules, note that the wallet needs to switch to the corresponding mainnet), currently support MetaMaskwallet:
STEP 2: Your wallet burning balance is shown here. (Test burning SHIB reward BLACK as an example)
SETP 3: Enter the amount of tokens to be burned. The first time you are burning, you need to Approve your wallet, click Burn to wake up your wallet and confirm
STEP 4: The amount of rewards you get depends on the weight of the burning tokens you put into the burning pool at any time during the validity of the pool. You can claim rewards at any time.
STEP 5: The contract address for the Burning Pool tokens are displayed here and support one-click additions to wallets.
BlackHole Protocol is an approval-free cross-chain burning platform based on Ethereum network. Any user or project governor could create a burning pool by holding BLACK and old Token LP to permanently burn the old Token into a new Token, thus gaining ecological vitality.
BlackHole Protocol originates from Ethereum network and gradually spread to Polkadot, BSC, Heco, SOL and eventually the whole blockchain world. And BLACK Token will inflation suddenly at the very beginning and enter the deflationary model in a flash and keep deflating with the process of ecological reconfiguration.
Total Supply: 100million
Follow WeStarter on telegram：
WeStarter English Group: https://t.me/westarter_official
WeStarter Announcement Channel: https://t.me/westarter_announcement
WeStarter Chinese Group: https://t.me/westarter_chinese
WeStarter Vietnam Group: https://t.me/WeStarterVN
WeStarter Japanese Group: https://t.me/WeStarterjapanese
WeStarter Indonesia Group: https://t.me/WestarterIndonesia
WeStarter Korean Group: https://t.me/westarterkr