Black Hole Protocol AMA Summary Recap with Shin Chan Community

We held a live AMA with Blackhole Team on 25th April 10:00 PM (UTC+8). Here’s the recap for those who missed it.

Introduction

Gangqi: Before we start for Twitter AMA Section, can you please have a short introduction about yourself and Black Hole?

Blackhole Team: I am the CMO of this great project i.e. BlackHole Protocol. I am very happy to be a part of this Project. I have around 5 Years of Experience in the Blockchain Industry. I have completed many great projects, I have done ICO, IEO & most of the project is already MOON & tradable asset on different Exchanges.

I have a very deep connection with Crypto Jane & other Cryptocurrency Celebrities. I am also the owner of a Marketing Company in India & USA.

My main competencies in digital
marketing, social media marketing, and product advertising bring a lot of value to all our valuable clients all over the world. My team is full of young entrepreneurs. We are committed to the #success of every project we work on.

This all about Myself, Let me Introduce our Great Project — #BLACK

A short Introduction of BlackHole Protocol-

Is an approval-free decentralized & cross-chain burning protocol.

This cross-chain burning platform is based on the Ethereum network. If I explain you in more simple words, Any user or project governor could create a burning pool by holding BLACK permanently burn the old Token into a new Token, and gaining a new ecological vitality.

We are very confident about our success in the future because we have a business plan that can be foreseeably successful, which is recognize by the #NGC Ventures and Crypto Times, Au21 Capital, Shinhan, and many big names in Crypto Industry.

And we have definite confidence on our technical support for the fact that our team is very strong with a deep connection with Bounce.finance, Helmet, ChainSwap, WeStarter, Anti-Matter, Gate.io & MXC Exchange.

Gangqi: Do you have any news and latest information about Black Hole Protocol would like to share with our community?

Blackhole Team: Yes, let me share a very great news.

Congratulations 🎉 to the community members, you are the first in the world to see this poster!

AMA Twitter Section Begin:

Q1: Could you tell us a little about the strategies that Black Hole has for marketing and attracting new users in this year 2021? also do you think they can be limited by the global pandemic?

Blackhole Team: It’s a very interesting question, let me grab some information.

We just finished BlackHole Protocol Global Ambassador Recruitment Plan, we have 133 KOL’s from all over the World. We have best Twitter Influencer, YouTuber’s & many others.

For more informatiopleasease check the below link -

https://blackholeprotocol.medium.com/blackhole-protocol-global-ambassador-recruitment-plan-7602eb8da312

Hope to see you in $BLACK IDO Whitelist

Learn more about Public Sale https://westarter.medium.com/westarter-will-launch-blackhole-protocol-black-on-april-28th-at-20-00-sgt-whitelist-is-open-now-bc4884d9f8cd

Q2: The BlackHole Protocol originated in the Ethereum network and gradually spread to Polkadot, BSC, Heco, SOL and eventually the entire blockchain world. Why did you choose Ethereum to launch your project first? What benefits did it give you?

Blackhole Team: It’s an Amazing Question, let me give you some statements.

Because ethereum is the largest influence and can get more support!!

Technical support is provided by our strategic partners
ChainSwap’s innovative technology allows BLACK contract addresses to be consistent across multiple chains of ETH, BSC and HECO. By providing a cross-chain bridge to ETH, BSC and HECO, BLACK users can use lower transaction fees and faster processing times for multi-chain transactions.

The blackhole protocol is designed with the NFT concept and cross-chain support. With the right timing, Blackhole protocol will start #NFT rewards and cross-chain burning, making a #solid foundation for penetrating a wider and larger ecosystem.

Q3: How does Black Hole Protocol make data recovery on your system fully automated without compromising security and decentralisation? What technology do you use to achieve this?

Blackhole Team: The functionality implemented in our V1 version is the basic functionality, supporting the burning pool of a single token.
The functionality implemented in version V2 is to support NFT burning for the 1155 protocol.

And we’ve supported cross-chain burning since v1
Blackhole protocol is designed with NFT concept and cross-chain support. With the tight timing, Blackhole protocol will start NFT rewards and cross-chain burning, making a solid foundation for penetrating a wider and larger ecosystem.

This will be the Technical Innovation use to achieve the security level.

Q4: As the DeFi ecosystem continues to develop rapidly, projects that combine staking, passive income and NFT tools in the best way attract attention. However, when using these tools, a balance mechanism is required to avoid damaging the project. Projects that focus on greater adoption should provide both a sustainable AMM rate and sufficient liquidity to avoid congestion. How will you achieve this balance? How will you synthesize the trio of staking, passive income and NFT on the blackhole platform?

Blackhole Team: Very interesting question as well as conceptual. 😁 Lol

Let me get some information to support this Question.

In the first phase of the project, we will choose the projects to work with, so as to ensure the interests of all participants, because only the best projects can bring vitality and sustainable development to the platform, for example, we have just announced the cooperation
We are excited to announce that BlackHole Protocol, a cross-chain burning protocol, and NULS, an open-source, enterprise-grade, adaptive blockchain platform, have entered into a strategic partnership. Both parties will cooperate closely around initial token exchange, quality asset mutual recommendation, cutting-edge situation research, and ecological resource sharing.
NULS is an open-source, enterprise-grade, adaptive blockchain platform that offers fast-track business solutions for developers.

Featuring microservices, smart contracts, cross-chain interoperability, and instant chain-building, NULS sets a new industry standard in streamlining blockchain adoption.

Q5: What is the crucial thing,in your opinion,that would increase adoption of #BLACK and possibly the rest of crypto. What’s the #BLACK economic model and how will it is architecture ensure scarcity of the token and help to growth token price?

Blackhole Team: Economic Model or a Strategic Plan for the adoption of #BLACK and it will also help to grow the token price as well as community. Our main focus is a big & great community from all over the World.

WeStarter

1) We are announcing that WeStarter will launch BlackHole Protocol on April 28th at 20:00 SGT. Please check the below link for more information -

https://westarter.medium.com/westarter-will-launch-blackhole-protocol-black-on-april-28th-at-20-00-sgt-whitelist-is-open-now-bc4884d9f8cd

2) MXC Exchange -

The 28th Session of the M-Day Program is happening soon. M-Day Program is a series of activities held on MXC Exchange for mainstream crypto traders/holders to participate in to enjoy discounted prices on project tokens. The project for this upcoming M-Day is BLACK.

Please check the below link for MXC Exchange —
https://support.mxc-exchange.com/hc/en-001/articles/360060361991

3) Gate.io

Gate.io has launched Startup, a platform that aims to provide users with access to innovative and advanced projects. Traders now have more opportunities to make an initial investment.
Gate.io Startup will launch its next project with BlackHole Protocol on April 28th, 2021 at 04:00 AM(UTC).

Gate.io StartUp Link — https://www.gate.io/en/article/20471

Telegram Live AMA Begin:

Q6: The main focus of what you are doing in your project?

Blackhole Team: With the rapid expansion of Defi ecosystem, considerable traffic and users has flood in. In parallel with the DeFi boom, more eco-tokens are accumulating on-chain, with new mainchain ecosystems and loads of application emerging. Such situation means that tokens are continuously issued and glutted in the defi world, overwhelm the capacity of the Defi world. Correspondingly, the blockchain world could use the recast to burn and rebirth these materials, bringing surging drive to the originally overloaded ecology.

However, projects themselves gain benefits from the token burning process, the process is not a zero-sum game. During the token burning, token holders could also benefit from the process. Superficially, token burning will only benefit the project owner, but actually, both investors and project owners could benefit in this mechanism. Obviously, burning could help stabilize the value of the token and curb possible price inflation. Then the stability of the token incentive investors to hold the token and positively effect the token price, thus keeping the network functioning properly and the bandwidth stable. Token burning also demonstrates a confidentiality and reliability characteristic that is more evident in the early stages of tokenism.

Q7: Are you planning to create local communities so that people speaking different languages can explain your project in full detail and create a global awareness of the products you are developing?

Blackhole Team:

Blackhole Protocol is happy and proud to announce our Global AMA Campaign!

Operation Icebreaker

Please take a look on the dates, we are looking forward for your participation! Great Prizes awaits you! Smiling face with 3 hearts

Blackhole Team is ready to unveil itself to the world!

Q8: The introduction of BLACK HOLE was very good, but can you provide me with a link where I can stay a little more informed about the news to follow up and thus be aware of the various updates?

Blackhole Team:

Contact us
Twitter
https://twitter.com/blackholeburn
Medium
https://blackholeprotocol.medium.com/
Telegram Community
https://t.me/BlackholeProtocolOfficial
Telegram Channel
https://t.me/BlackholeProtocolAnnouncement

Q9: Would there be A need for more team members and ambassadors

Are you partnering with any big exchange?
What problems have your project solved since inception?

Blackhole Team:

#BLACK is backed by these organizations & supported partners.

Q10: BlackHoleBurn has announced a strategic partnership with Bounce. How will this partnership help you integrate into the Polkadot ecosystem and succeed in DEFI?

Blackhole Team:

We are excited to announce that BlackHole Protocol, a cross-chain burning protocol, and Bounce.finance, a decentralized auction protocol, have entered into a strategic partnership. Both parties will cooperate closely around initial token exchange, quality asset mutual recommendation, cutting-edge situation research, and ecological resource sharing.

The functionality implemented in our V1 version is the basic functionality, supporting the burning pool of a single token.
The functionality implemented in version V2 is to support NFT burning for the 1155 protocol.

And we’ve supported cross-chain burning since v1
Blackhole protocol is designed with NFT concept and cross-chain support. With the tight timing, Blackhole protocol will start NFT rewards and cross-chain burning, making a solid foundation for penetrating a wider and larger ecosystem.

Q11: What is the function of $BLACK in Black Hole Protocol ecosystem? What are the benefits of investors and $BLACK holders?

Blackhole Team: Advantages of BLACK HOLE PROTOCL — -

1) All of the above platform are strategic cooperation partner with BlackHole, Helmet, Bounce, Westarter.

2)Operation plan:
Seed Round→ Ambassador Investment Round→IDO R1&R2→LBP

3) All of the token in the private equity and IDO stage will be released based on the releasing rules after LBP.

4) After LBP, we will provide liquidity on Uniswap, Pancake aIndexdex. (For the reason that IDO、IIO、LBP are on different chains)

Q12: Can anybody use your project from any where or also some restricted countries?

Blackhole Team: 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.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

Q13: In addition to the investment from well-known institutions, what other well-known projects has Blackholeburn cooperated with?

Blackhole Team:

Q14: Can you give us an overview of $ BLACK token economics? Is the token designed to rise and fall with the success of the platform, and does it include any scarcity paths such as stake, store, or burn?

Blackhole Team:

#BLACK Tokenomics

Q15: All project’s token have their main Utilities & real-life use! So, Can you explain us what the main role of the token is in your ecosystem?

Tell more its Utilities and Real-Life use cases?
also Why should we invest in your coin for the long term?
From your website, can we submit problem, suggestion, idea or bug report and get reward?If yes. where we can submit that?

Blackhole Team: However, projects themselves gain benefits from the token burning process, the process is not a zero-sum game. During the token burning, token holders could also benefit from the process. Superficially, token burning will only benefit the project owner, but actually, both investors and project owners could benefit in this mechanism. Obviously, burning could help stabilize the value of the token and curb possible price inflation. Then the stability of the token incentive investors to hold the token and positively effect the token price, thus keeping the network functioning properly and the bandwidth stable. Token burning also demonstrates a confidentiality and reliability characteristic that is more evident in the early stages of tokenism.

Q16: Would there be A need for more team members and ambassadors

Blackhole Team: Yes, we have 133 ambassadors from all over the World & we will increase our community in near future.

Please check the below link 👇

https://blackholeprotocol.medium.com/blackhole-protocol-global-ambassador-recruitment-plan-7602eb8da312

Q17: You can explain your global expansion plan:Is the only market you’re concentrating on all the time? Do you focus on building or developing and acquiring customers and users, or partnership?

Blackhole Team:

Q18: Token burning makes tokens rare. Is the Black Hole burning token to stabilize the prize and create a limited supply with high demand? And what is meant by cross chain burning?

Blackhole Team: Yes, BlackHole Protocol is a cross-chain burning Protocol, an innovator of the perpetual deflationary blockchain ecosystem.

Yes, Blackhole is a burning mechanism, so we will also burn some supply to attract investors & traders. We will made the official announcement about this event.

Q19: How about the experience and background of BLACK HOLE team, has it been effective in the success of your project so far?
and what are your goals to revolutionize the blockchain and NFT fields?

Blackhole Team: The functionality implemented in our V1 version is the basic functionality, supporting the burning pool of a single token.
The functionality implemented in version V2 is to support NFT burning for the 1155 protocol.

And we’ve supported cross-chain burning since v1
Blackhole protocol is designed with NFT concept and cross-chain support. With the tight timing, Blackhole protocol will start NFT rewards and cross-chain burning, making a solid foundation for penetrating a wider and larger ecosystem.

Q20: You can explain your global expansion plans the only market you’re concentrating on all the time? Do you focus on building or developing and acquiring customers and users, or partnership?

Blackhole Team:

WeStarter

1) We are announcing that WeStarter will launch BlackHole Protocol on April 28th at 20:00 SGT. Please check the below link for more information -

https://westarter.medium.com/westarter-will-launch-blackhole-protocol-black-on-april-28th-at-20-00-sgt-whitelist-is-open-now-bc4884d9f8cd

2) MXC Exchange -

The 28th Session of the M-Day Program is happening soon. M-Day Program is a series of activities held on MXC Exchange for mainstream crypto traders/holders to participate in to enjoy discounted prices on project tokens. The project for this upcoming M-Day is BLACK.

Please check the below link for MXC Exchange —
https://support.mxc-exchange.com/hc/en-001/articles/360060361991

3) Gate.io

Gate.io has launched Startup, a platform that aims to provide users with access to innovative and advanced projects. Traders now have more opportunities to make an initial investment.
Gate.io Startup will launch its next project with BlackHole Protocol on April 28th, 2021 at 04:00 AM(UTC).

Gate.io StartUp Link — https://www.gate.io/en/article/20471

Q21: Name me 2 important benefits that this project highlights?

Blackhole Team: Benefits / Advantages of BLACK HOLE PROTOCL — -

1) All of the above platforms are strategic cooperation partners with BlackHole, Helmet, Bounce, WeStarter

2)Operation plan:
Seed Round→ Ambassador Investment Round→IDO R1&R2→LBP

Q22: You mentioned Version V0.1 will be free to the projects, and then token burning fee and reward distribution will be taken in the future, which will be used to repurchase BLACK. my question, why not completely free? why are the funds from here being used for repurchases?

Blackhole Team:

Creating token is essentially an attempt to create new value. The developer releases new token and investors or institutions could send old tokens to the contract address, from where investors then receive new tokens. Since the new supply and demand relationship, those tokens are entitled new value, and the same value convey to the developers, which means the value actually increases twice at the same time.
By burning the old tokens sent by investors, the developers are actually transferring the value of the old tokens into new tokens, rather than trying to create new value out of nowhere. If the demand for the old tokens stays the same, then the remaining old tokens will increase in value, and the value of the new tokens is derived from the old tokens. No value is created out of nowhere.

Q23: Among the new BLACK HOLE updates that are coming to the platform is the addition of other networks to operate on other chains?

Blackhole Team: Gradually, it will be radiating to Polkadot, Heco, SOL & the whole BlockChain World.

Q24: Very interesting, “Burn old tokens permanently into new tokens”. can you explain more about your token burning strategy?

Blackhole Team: This cross-chain burning platform is based on the Ethereum network. If I explain youin more simple words, Any user or project governor could create a burning pool by holding BLACK permanently burn the old Token into a new Token, and gaining a new ecological vitality.

Q25: How can Blackhole with its technology and innovation, address the greatest risks in the betting scheme?

Blackhole Team:
.
Product innovation — Mutiple support for burning protocol
Native support for liquidity reward burning (creator-designed burning rewards), single token burning (with a single token as the burning token).
. Product innovation — The top-notch mathematical deflation model
. Black Token is a special burning economic system that follows the geometrical progressio convergence model, in which all of Black Token will undergo “deflationary cycle”. After 15 deflationary cycles, the tokens will be left less than 5%, and the value of the token will increase infinitely with the “deflationary cycle”.

Q26: Can you tell me the mechanism and meaning of burning tokens on Black Hole?

Blackhole Team:

Usually, burning methods and targets would vary from projects to projects according to the needs of ecological developments. For example, stable tokens like USDT, issued at the same time when they deposited into USD reserve. And burn an equivalent amount of tokens as a guarantee of value when the reserve is removed. Some exchange platforms spend platform tokens buying goods or online-services for burning purposes; Ripple burns a portion of its fees for each completed transaction. Such things means that the frequency and targets of burning approches vary. Some of them burn all at once, while others burn different amounts in different stages until they finally burn the established total amount described in white paper. The key element of the Blackhole protocol is that the burning mechanism aims to reduce the total supply of BLACK, changing the supply and demand of BLACK, then increase the value of BLACK within the ecology through continuous token burning.

Q27: Partnerships are an integral component of any project’s journey. Which types of partnerships LaunchZone has already attained and what are the plans on this front moving forward?

Blackhole Team:

We will cooperate with more excellent and well-known projects

Q28: I would like to know more about the history behind the #BlackHoleBurn And what motivated you or prompted you to launch this project? Do you have a problem or need that left you out of ideas to create one?

Blackhole Team: The Idea behind this project is that everybody in the Crypto Industry burns the supply of their Token & creates awareness & attracts many people. Also, the shit coin is the waste. So BlackHole Protocol is an approval-free decentralized cross-chain burning protocol, innovator of the perpetual deflationary blockchain ecosystem.

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 a new ecological vitality.

It’s an Interesting Idea

Q29: In fact, there are a lot of public chains, but the mainstream public chains are the ones that really reach a wide audience. Will Black consider supporting some currently niche chains, such as Matic, XDAI, NEO, NULS and so on?

Blackhole Team: Our technical team will support more public chains in the future

Q30: I would like to know more about the history behind the #BlackHoleBurn And what motivated you or prompted you to launch this project? Do you have a problem or need that left you out of ideas to create one?

Blackhole Team: With the rapid expansion of Defi ecosystem, considerable traffic and users has flood in. In parallel with the DeFi boom, more eco-tokens are accumulating on-chain, with new mainchain ecosystems and loads of application emerging. Such situation means that tokens are continuously issued and glutted in the defi world, overwhelm the capacity of the Defi world. Correspondingly, the blockchain world could use the recast to burn and rebirth these materials, bringing surging drive to the originally overloaded ecology.

Q31: Did you make any privatesale or any whitelisting and public sale because I want to participate?

Blackhole Team: Please participate from the below links & check the public sale information-

WeStarter

1) We are announcing that WeStarter will launch BlackHole Protocol on April 28th at 20:00 SGT. Please check the below link for more information -

https://westarter.medium.com/westarter-will-launch-blackhole-protocol-black-on-april-28th-at-20-00-sgt-whitelist-is-open-now-bc4884d9f8cd

2) MXC Exchange -

The 28th Session of the M-Day Program is happening soon. M-Day Program is a series of activities held on MXC Exchange for mainstream crypto traders/holders to participate in to enjoy discounted prices on project tokens. The project for this upcoming M-Day is BLACK.

Please check the below link for MXC Exchange —
https://support.mxc-exchange.com/hc/en-001/articles/360060361991

3) Gate.io

Gate.io has launched Startup, a platform that aims to provide users with access to innovative and advanced projects. Traders now have more opportunities to make an initial investment.
Gate.io Startup will launch its next project with BlackHole Protocol on April 28th, 2021 at 04:00 AM(UTC).

Gate.io StartUp Link — https://www.gate.io/en/article/20471

Q32: Did you make any privatesale or any whitelisting and public sale because I want to participate?

Blackhole Team:

Q33: WHEN DAPP RELEASE?

Blackhole Team: June

Q34: Can you tell me more about the meaning of the name ‘Black Hole’?Are you a fan of astronomy?

Blackhole Team: We will work with other talented teams to create a universe system.

Q35: In the bad situation of Corona ( COVID-19) pandemic maximum company is heavily affected Again Does it affect on the growth of your project & platform If yes how did you overcome?

Blackhole Team: We have a serious & effective plan in terms of Marketing & we perform all the things Online to overcome this COVID Situation. We have many big organization who perform as a Backbone for #BLACK.

For more information & details overview, please check the below link!!

- End -