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We study extremal black holes, their ADM mass and area of the horizon in N=8 supergravity. Contrary to intuition gained from N=2,3,4 theories, in N=8, as well as in N=5,6, supergravity BPS states may become massless only at the boundary of moduli space. We show that stringy states described in Green, Ooguri, Schwarz (2007) [10], which have no mass gap and survive in toroidal compactifications in addition...
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