DEXes · Review

Active

Blackhole AMM Review 2026: Avalanche DEX With Early-Stage TVL

Blackhole AMM is an Avalanche-based decentralized exchange with its own BLACK token and a small but active liquidity base. It suits experienced DeFi users who accept early-stage smart-contract and emissions risk.

Avalanche

By the DappsAtlas editorial team · Updated Nov 5, 2026

DappsAtlas score

5.2/10

Mixed

Visit Blackhole AMM

Our verdict on Blackhole AMM

5.2/10

Blackhole AMM is a small Avalanche DEX with a BLACK token and emissions-driven incentives. It may interest experienced DeFi users who want early exposure to a young protocol and understand liquidity-pool risks. Its main strength is a non-custodial AMM on a low-cost chain. The main caveat is the lack of listed audits and unpublished team and fee details, combined with modest liquidity and reward yields that depend on a volatile token. Size positions accordingly.

Score breakdown

How Blackhole AMM scores

Security: 3.8/10
Ease of use: 6.5/10
Fees: n/a
Features: 5.5/10

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 Blackhole AMM?

Blackhole AMM is a decentralized exchange built on Avalanche. It describes itself as a liquidity and trading hub for projects on the network, and it has its own token, BLACK.

The protocol has been tracked since July 2025. Total value locked is roughly 1.3 million USD, with a small weekly decline of about 2 percent. That puts it among the smaller Avalanche DEXs by liquidity.

Community posts at launch described it as bringing new communities and tokens to Avalanche, and one write-up links it to Superverse and Elliotrades. The project does not publish audits, team details or a fee schedule in the material reviewed, so those points cannot be confirmed here.

How Blackhole AMM works

Blackhole is an automated market maker (AMM). Instead of matching buyers and sellers in an order book, it holds pairs of tokens in liquidity pools, and a pricing formula sets the exchange rate based on the pool's balance. Traders swap against the pool and pay a fee.

Liquidity providers deposit tokens into these pools and earn a share of the trading activity. Community discussion indicates Blackhole also pays BLACK token emissions as an incentive, which is why advertised yields have looked high while total liquidity was low.

Everything runs through smart contracts on Avalanche, so users keep custody of their tokens until they deposit them. The flip side is that contract bugs, impermanent loss and falling reward-token prices are the user's risk.

4 features

Key features

Avalanche token swaps

Swap tokens on Avalanche through on-chain liquidity pools, using a self-custody wallet.

Liquidity pools

Users can deposit tokens into pools to supply liquidity, which is the basis of the AMM design.

BLACK token incentives

The BLACK token is tied to reward emissions that community posts highlight as an incentive for early liquidity providers.

Hub for Avalanche projects

The project describes itself as a liquidity and trading hub aimed at bringing new communities and tokens to Avalanche.

Pros and cons

What we like

Runs on Avalanche, which offers fast finality and low gas costs
Non-custodial design: users trade and provide liquidity from their own wallets
Has its own token and incentive program that can reward early liquidity providers
Positioned as a hub for new Avalanche projects and communities
Active liquidity of about 1.3 million USD shows real usage

Watch out for

Total value locked is about 1.3 million USD, which is small for a DEX and can mean thin liquidity and wider price impact on larger trades
No audits are listed for the protocol, and the project does not publish audit reports in the material reviewed
High advertised yields tied to BLACK emissions can fall quickly as emissions are sold or diluted
Team, fee schedule and token distribution details are not published in the material reviewed
Young protocol (tracked since July 2025) with a limited track record
Single-chain exposure to Avalanche, so it depends on that network's health and liquidity

Blackhole AMM fees

Blackhole does not publish a fee schedule in the material reviewed. Swap fees on AMM pools are normally set per pool and shown in the trading interface before you confirm, so check the app for the exact rate on any pair.

On top of any swap fee, you pay Avalanche network gas in AVAX, and thin liquidity can add price impact on larger trades. Whether liquidity providers or token holders receive a share of fees is not stated.

Is Blackhole AMM safe?

No audits are listed for Blackhole, and the project does not publish audit reports or a bug bounty in the material reviewed. Smart-contract risk is therefore unquantified, and users should assume that funds deposited into pools could be lost to a bug or exploit.

Being a non-custodial DEX, it does not hold user funds in an account, but token approvals and pool deposits still expose you to contract risk. Team identities and governance structure are not stated. Other projects with similar names exist, including a file-transfer app and an unrelated blockchain, so confirm you are on the right site and token contract before connecting a wallet.

6 steps

How to get started with Blackhole AMM

1
Set up a self-custody wallet that supports Avalanche and fund it with AVAX for gas.
2
Open the official Blackhole site and confirm the address matches the one linked from the project's verified social account.
3
Connect your wallet and review the available pools, fees and displayed yields.
4
Start with a small swap to see price impact and gas costs before committing larger amounts.
5
If you provide liquidity, learn how impermanent loss works and check how rewards are paid.
6
Review approvals regularly and revoke any you no longer need.

Open Blackhole AMM

Who Blackhole AMM is for

Blackhole AMM suits experienced DeFi users on Avalanche who are comfortable with unaudited, early-stage protocols, impermanent loss and volatile reward tokens. It is a poor fit for beginners, anyone who needs deep liquidity for large trades, or users who require published audits and a known team.

Blackhole AMM FAQs

What is Blackhole AMM?

Blackhole AMM is a decentralized exchange on the Avalanche blockchain. Users trade tokens and supply liquidity directly from their own wallets rather than through an account on a company's platform.

Which blockchain does Blackhole use?

The protocol runs on Avalanche only, according to the data reviewed. You need a compatible wallet and AVAX to pay network gas fees.

What is the BLACK token?

BLACK is the protocol's own token, and community discussion links it to reward emissions for liquidity providers. Its exact utility, supply and distribution are not set out in the material reviewed, so check the official site and docs before relying on it.

Is Blackhole AMM audited and safe?

No audits are listed for the protocol in the data reviewed, and the project does not publish audit details there. Treat it as unaudited until you see a report from an independent firm, and only commit funds you can afford to lose.

Are the high APRs on Blackhole reliable?

Promotional posts have pointed to very high APRs driven by token emissions while TVL was low. Such rates are variable, depend on the BLACK price, and can drop sharply, and impermanent loss can offset them.

Compare

Blackhole AMM alternatives

All alternatives

Uniswap V3

DEXes

Uniswap V3 is a non-custodial decentralized exchange protocol for token swaps and concentrated liquidity provision across 40+ chains.

TVL $1.52B−1.8%Ethereum · Base · Arbitrum +38

Uniswap V4

DEXes

Uniswap V4 is the latest Uniswap DEX version with hooks and concentrated liquidity, running on 22 chains for self-custody token swaps and liquidity provision.

TVL $1.18B+3.6%Ethereum · Robinhood Chain · Base +19

Uniswap V2

DEXes

Uniswap V2 is a non-custodial automated market maker DEX on 17 chains for token swaps and liquidity provision, with about $938M TVL.

TVL $870M−3.6%Ethereum · Base · Polygon +14

THORChain DEX

DEXes

THORChain is a Layer 1 DEX for swapping native assets across blockchains without wrapped tokens or bridges, aimed at self-custody and no-KYC users.

TVL $61.3M−5.3%THORChain · Bitcoin · Ethereum +10

SushiSwap

DEXes

SushiSwap is a multichain decentralized exchange with a swap aggregator, perps, staking and liquidity pools for self-custody DeFi traders.

TVL $35.5M−0.8%Ethereum · Polygon · Arbitrum +32

Balancer V2

DEXes

Balancer V2 is a non-custodial AMM protocol for programmable liquidity pools on Ethereum and eight other EVM chains, aimed at traders and liquidity providers.

TVL $16.5M−1.0%Ethereum · Polygon · Arbitrum +6

Same category

More DEXes

DEXes rankings

Curve

DEXes

Curve is a decentralized exchange on Ethereum built for low-slippage swaps of stablecoins and similar assets, with CRV governance and a crvUSD stablecoin.

Ethereum