Blackhole LPs need gauge stakes to earn emissions

Blackhole’s Avalanche DEX pays no $BLACK emissions to liquidity providers whose positions are not staked in a pool gauge, according to protocol documentation reviewed in 2026. Unstaked liquidity can still support swaps, but it misses the token rewards directed through the gauge system.

Why do unstaked LPs miss emissions?

Blackhole’s gauges are the gate between providing liquidity and receiving $BLACK emissions: an LP must stake an eligible position in the relevant gauge. The amount a pool receives depends on votes cast by veBLACK holders for that epoch, so staking makes a position eligible but does not promise a fixed return.

In practice, adding assets to a pool and staking the resulting position are separate steps. For a fuller explanation of Blackhole Swap’s pool mechanics and stalled trades, see our related coverage; here, the key distinction is that pool liquidity and gauge participation are not the same thing.

How do pool votes and weekly epochs work?

Blackhole’s documentation says veBLACK voters direct emissions among pools, while liquidity providers earn emissions only through staked gauge positions. Each epoch lasts seven days, from Thursday at 00:00 UTC through Wednesday at 23:59 UTC, and votes and rewards are calculated on that schedule.

That creates two different roles: LPs commit capital to a pool, while veBLACK holders vote on where emissions go. A pool can therefore have liquidity without receiving a large emissions allocation, and a staked LP’s potential reward depends partly on the pool’s vote outcome.

• Check that the pool has an active gauge.
• Confirm the position is staked in that gauge, rather than only held in a wallet.
• Review the pool’s votes and the current epoch before estimating rewards.
• Check whether the pool is part of a migration to a replacement gauge.

Do staked positions still earn trading fees?

Emissions and swap fees are separate incentives. Blackhole’s documentation describes emissions for staked LP positions and says veBLACK voters receive protocol trading fees from the previous epoch, alongside any voter incentives for the current one.

That means an LP should not treat the emissions figure as total pool income. Fees depend on trading activity and pool mechanics, while emissions depend on gauge eligibility and votes; concentrated-liquidity positions also need to be assessed against their chosen price range.

What is changing in Blackhole’s pools?

Blackhole’s Emissions Flow upgrade announcement describes a phased move to new pools, with emissions intended to track allocations to retired pools during the transition. The announcement says the upgraded pools add a minimum hold period to limit short-lived liquidity positions that enter around a trade and quickly leave.

The stated starting hold period is at least 30 seconds, with the setting configurable. LPs should verify the active gauge, staking status and migration instructions for their specific pool before relying on projected emissions; the announcement does not confirm a complete rollout timetable or every pool’s final settings.