Yield Aggregator · Review
ActiveBlack Panther Review 2026: Injective Yield Vaults
Black Panther is a yield vault protocol on Injective that runs automated trading strategies such as arbitrage, market making and liquid staking. TVL is small, so treat the advertised APYs with caution.
By the DappsAtlas editorial team · Updated
DappsAtlas score
5.8/10
Mixed
Our verdict on Black Panther
5.8/10Black Panther suits Injective users who want automated trading vaults and are comfortable with high-risk yield. Its strength is the range of active strategies, including arbitrage, market making and blackINJ staking, plus self-custody and listed audits. The main caveat is size and transparency: TVL is under $420K, headline APYs sit on tiny vaults, fees are not spelled out, and usage claims are unverified. Start small and check the audit reports first.
Score breakdown
How Black Panther scores
- Security
- 5.5/10
- Ease of use
- 7.5/10
- Fees
- 4.0/10
- Features
- 6.5/10
Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.
What is Black Panther?
Black Panther is a decentralized asset management protocol on Injective. It offers automated vaults that run trading strategies, including arbitrage across DEXes, market making on the Injective orderbook and a liquid-staking vault built on blackINJ.
DefiLlama lists it in the Yield category since November 2023, with about $419K in TVL and a BLACK token. The homepage claims $500M+ in trading volume, 50K+ active users and 36 vault strategies. Those figures are self-reported and not independently verified.
The pitch is that vaults go beyond auto-compounding by adding active strategies such as grid trading. The advertised APYs range from about 25% on the larger staking vault to 300%+ and 460% on very small vaults, which likely reflects incentives and small capital bases.
How Black Panther works
Users deposit assets into a vault. The vault's bots then run a defined strategy, such as arbitrage between DEXes, market making on the Helix orderbook, or staking INJ through the blackINJ liquid staking token. Profits are auto-compounded back into the vault.
The strategies are active rather than passive. Arbitrage and market making depend on market conditions, so returns can swing and losses are possible. Some displayed yields include incentive rewards paid in tokens like INJ, which may not last.
Funds stay in a self-custody setup, which the project says lets users deposit or withdraw at any time. Black Panther earns income from a management fee.
6 features
Key features
01
Active trading vaults
Vaults run strategies such as arbitrage across DEXes, market making on Injective's orderbook and grid trading, rather than only auto-compounding.
02
Multiple vault strategies
The homepage lists 36 vault strategies, with examples on Helix and Dojo, covering pairs like INJ/USDT and BLACK/INJ.
03
Hyper Staking with blackINJ
The Hyper Staking vault uses the blackINJ liquid staking token to boost INJ staking yield. It is the largest vault shown, with about $5.7M TVL on the homepage.
04
Market making vaults
Market making vaults are meant to help projects list tokens on the Injective orderbook.
05
Auto-compounding
Profits are auto-compounded, and the project says no coding or trading experience is needed.
06
Self-custody and dashboard
The project describes a self-custody model where users can deposit or withdraw at any time, with a dashboard showing bot actions and performance.
Pros and cons
What we like
- Offers active strategies, such as arbitrage and market making, beyond simple auto-compounding.
- Two audits are listed on DefiLlama, and the project says its contracts are audited.
- Self-custody model with deposits and withdrawals possible at any time, per the project.
- Supports several wallets, including MetaMask, Keplr and Leap.
- The dashboard shows bot actions and performance statistics, per the homepage.
- Running since late 2023 on Injective with a defined roadmap.
Watch out for
- TVL is small, about $419K on DefiLlama, so liquidity is thin for several vaults.
- The homepage's volume, user and vault numbers are self-reported and not verifiable from public sources.
- Active trading strategies like arbitrage and market making can lose money, and the project says profits are not guaranteed.
- Headline APYs of 300%+ and 460% appear on very small vaults and are likely driven by token incentives.
- The site's copyright reads 2023 and several roadmap items, such as a CEX listing and money markets, are not shown as delivered.
- Fee levels are not published publicly, only that a management fee exists.
Black Panther fees
Black Panther says it earns its income from a management fee collected on its services. The project does not give the percentage or whether performance fees apply.
Users should check each vault's page in the app for fee details before depositing. Network gas costs on Injective and any trading slippage inside strategies would come on top, though the project does not quantify them.
Is Black Panther safe?
DefiLlama lists two audits and the project says its contracts are audited, but the auditors and reports are not named publicly. Readers should find and read the reports themselves. Audits reduce but do not remove smart-contract risk, and automated trading bots add strategy and execution risk on top.
The project describes a self-custody model, so funds are not held by a company. No hacks or incidents appear. The project's own FAQ states that profits are not guaranteed and that it is not liable for losses. With small TVL and a 2023 copyright line on the site, check that the app is still actively maintained.
6 steps
How to get started with Black Panther
- 1
Read the vault descriptions and check the strategy, DEX, TVL and incentive details for each vault.
- 2
Verify the audit information and contract addresses from the project's official channels.
- 3
Install a supported wallet such as MetaMask, Keplr or Leap and fund it with the required assets on Injective.
- 4
Open the app from the official website and connect the wallet.
- 5
Start with a small deposit into a vault, and check the management fee shown in the app.
- 6
Monitor the dashboard for performance and withdraw if the strategy no longer fits your risk tolerance.
Who Black Panther is for
This is for Injective users comfortable with DeFi who want exposure to automated trading and staking vaults and accept that returns can be volatile or negative. It is not suited to anyone who needs guaranteed returns or very deep liquidity.
Black Panther FAQs
What is Black Panther?
Black Panther is a decentralized asset management protocol on Injective. Users deposit into vaults that run automated strategies such as arbitrage, market making and a liquid-staking-based INJ vault.
Are returns on Black Panther guaranteed?
No. The project states that profits are not guaranteed and that crypto trading carries risk of both significant gains and losses. Strategies are used at the user's own risk.
What fees does Black Panther charge?
The project says it earns income from a management fee. The exact percentage is not, so check the vault page in the app before depositing.
Which wallets work with Black Panther?
The homepage says users can connect MetaMask, Keplr or Leap wallets. It describes a self-custody model with deposits and withdrawals possible at any time.
Is Black Panther audited?
DefiLlama lists two audits and the project says its contracts are audited. The auditor names and reports are not public, so verify them yourself. An audit does not remove smart-contract risk.
What is the BLACK token?
BLACK is the protocol's token, and DefiLlama lists it. The homepage shows vault incentives and a roadmap item for a centralized exchange listing of BLACK.
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How we checked
Sources
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