Blum Receives Investment from The Open Platform to Enhance Telegram Presence
Blum, a decentralized exchange (DEX) and trading app on Telegram’s TON network, has secured an investment from The Open Platform (TOP), a venture builder supporting projects within TON's ecosystem. The specific investment amount remains undisclosed.
With TOP's backing, Blum aims to enhance its presence and infrastructure to attract Telegram’s nearly 950 million monthly active users. This investment follows a significant contribution from Binance Labs, positioning Blum as a key player in the DeFi sector on Telegram.
Blum’s CEO, Gleb Kostarev, stated that TOP’s investment will facilitate growth within TON’s ecosystem, enhancing the DeFi experience for users. Blum targets a seamless DeFi experience for both new and experienced users.
TOP’s contributions to the TON ecosystem include a $10 million development hub designed to promote growth. Blum currently boasts around 85 million users, making it one of the largest mini-apps on Telegram. With TOP’s resources, Blum intends to improve its user interface and expand crypto trading capabilities across multiple blockchains.
Blum’s co-founder and CMO, Vladimir Smerkis, noted that the partnership with TOP will enable the "fast-tracking of new trading features" and bolster Blum’s infrastructure, although details on technical support are limited. This initiative reflects a trend of high-capital investors engaging Telegram’s user base, as evidenced by recent investments from Bitget and Foresight Ventures in GameFi and "tap-to-earn" projects on TON.
TOP’s investment encompasses more than funding; it includes resources aimed at enhancing Blum’s technical capabilities, making the DEX more appealing to users within the TON ecosystem.