Blackhole is the largest Avalanche DEX by volume (44% of total C-Chain volumes last month), is annualizing ~$52M in revenue as a metaDEX, which is 25% of AERO despite being worth $53M while AERO is worth $1B. Permissionless listings are also around the corner.
C-Chain volumes have been on a tear while the market has been focused on *choose your flavor of the month*.
Insti bid is here/coming, Avalanche has a solid insti brand, and has 2 DATs recently announced.
My understanding is the Blackhole team and foundation permalocked 100% of their TGE supply so they only make money off of trading fees, with an additional 5% of future emissions going towards the Foundation (which I believe is also permalocked continuously?).
Disclosure: I bought BLACK yesterday.
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