Add the black beans to a fine mesh strainer and rinse with cold water. Sift through the beans to find any damaged beans and discard them. Set the beans aside.
Set the instant pot to saute. Once warm, add the avocado oil. Allow the oil to heat and add the onion, shallot, and garlic. Stir to saute with a wooden spoon until the onions are translucent, about 4-5 minutes. Hit “cancel” on the instant pot.
Add a splash of broth and scrape the bottom of the pot to remove any browned bits. Add the remainder of the liquid, the black beans, and all of the seasonings. Gently stir to combine.
Place the lid on the instant pot and set the vent to seal. Hit “manual, high pressure” and set the time to 45 minutes. Allow to come to pressure. Once cooked, allow the pressure to release naturally for 30 minutes.
Remove the lid of the instant pot and discard the bay leaves. Stir well. Use a ladle to scoop out 2 cups of the cooking liquid and set aside.
Carefully pour the beans into a mesh strainer or colander, discarding the rest of the cooking liquid.
Add the cooked beans back to the instant pot, and add 1 cup of the cooking liquid. Using an immersion blender, carefully blend the beans, adding ¼ cup more of the cooking liquid at a time until your desired texture is reached, keeping in mind that the beans will thicken up a bit in the fridge.
Taste and season further to taste with extra salt and lime juice. Serve topped with extra cilantro, and serve on taco salads, in taco bowls, in tacos, with chips, etc!