Blum is a decentralized exchange (DEX) that operates on Telegram. It has recently raised $5 million to improve its AI-driven trading platform. The funding round was led by gumi Cryptos Capital, with support from other notable firms like Spartan and OKX Ventures. The money will be used to enhance Blum’s trading bot and Memepad platform, aiming to strengthen its role in the TON ecosystem.
Since launching in July 2024, Blum has attracted over 32 million members to its Telegram community. The project shifted from a “tap-to-earn” model to a “trade-to-earn” model, which has helped engage users long-term. Blum has 2.2 million unique wallets, making it a significant player in decentralized trading.
One of Blum’s key features is its trading bot, which has over 1 million users, making it the largest on Telegram. The team is working on adding multichain support to this bot.
The Memepad platform allows users to create meme coins and has become a leader in The Open Network (TON), ranking second globally with $200 million in trading volume. Users have created 200,000 tokens, with 380 listed on DEXs.
Investors are interested in Blum due to its high user engagement and successful business model. The funding will help Blum roll out new features for a better trading experience. The funding round also included support from The Open Platform (TOP) and Binance Labs, showing strong industry confidence in Blum’s vision.
The decline of “tap-to-earn” projects has highlighted the need for sustainable engagement. Interest in this model has dropped significantly, prompting Blum to focus on AI-powered trading. This approach keeps users engaged with advanced features instead of temporary rewards.
Blum’s CMO and Co-Founder, Vlad Smerkis, stated that the company is committed to developing a trading app for traders and the community. Blum is taking a careful approach to feature development, including multichain and futures trading, with strong investor backing to support its innovations.
