Binance Labs, the venture capital arm of the largest crypto exchange Binance, has invested in a new project called Blum. Blum is a decentralized crypto exchange that is integrated into the Telegram platform. This investment from Binance Lab will help the platform in two ways. First, it will accelerate the development and growth of the platform and second, it will expose more crypto enthusiasts to it. Are you ready to learn what this platform is and why it is making waves in the crypto world?
Blum’s rapid growth and unique features
Flower caught the attention of the crypto world right after its launch on April 19 this year. Impressed by its innovative approach, 100,000 users signed up within the first 24 hours of its launch. Just like all other Telegram-based mini-apps, you can open Blum in your Telegram application. Telegram has over 950 million monthly users, which gives Blum a huge potential audience. Currently, Blum has over 60 million registered users and 18 million daily active users. This places the platform at number three among the most popular crypto platforms worldwide.
Although Blum is a decentralized cryptocurrency exchange, they still implemented the famous tap-to-earn model. This is not a game, but rather an engagement mechanism. Users earn points and rewards for their interactions within the app. Just like other famous tap tap games, Blum offers its users rewards for performing various tasks, such as connecting their TON wallets and watching videos. This approach has proven to be successful, as more than 30% of users have connected their wallets. The telegram channel of this project has grown to more than 22 million subscribers.
Long-awaited Airdrop
The community is eagerly awaiting Blum’s airdrop, which will take place next week on September 20th. The $blum token will be listed on Binance and other major crypto exchanges shortly after the airdrop. At launch, the token’s starting price is expected to be $0.1667. Blum’s future plans include introducing a memepad feature that will allow users to mint and trade tokens directly on the platform. The exchange has also formed partnerships with well-known crypto platforms such as OKX, Bybit, and Bitget, as well as collaborations with popular artists and rappers.
Strategic approach
Blum has a unique ability to combine the best features of centralized and decentralized crypto exchanges. Launching this platform as an in-app Telegram allows users to switch between messaging and using the exchange. There is no need to have two apps. This particular feature drastically reduces the cost of user acquisition and therefore makes Blum an attractive proposition for investors.
The backing from Binance Labs and other investors indicates confidence in Blum’s potential to disrupt the crypto exchange space. As the platform continues to grow and evolve, it will be interesting to see how it shapes the future of decentralized finance on a global scale.
