Blum Raises $5 Million to Enhance AI Trading Platform on Telegram
Blum, a decentralized exchange (DEX) on Telegram, has raised $5 million in funding led by gumi Cryptos Capital. Other investors include Spartan, No Limit Holdings, YZi Labs, and OKX Ventures. The funds will enhance Blum's AI-driven trading bot and Memepad platform, aiming to solidify its position in the TON ecosystem.
- Launched in July 2024, Blum has attracted over 32 million members.
- The shift from "tap-to-earn" to "trade-to-earn" has increased user engagement.
- Blum has 2.2 million unique wallets and is recognized for its high on-chain activity.
- Its trading bot exceeds 1 million users, making it the largest on Telegram.
- Memepad leads the TON platform with $200 million in trading volume and 200,000 created tokens.
Investors support Blum due to its user engagement, sustainable earnings model, and potential dominance in the DEX market within the TON ecosystem. Additional backing comes from The Open Platform (TOP) and Binance Labs, reflecting strong industry confidence. CEO Gleb Kostarev noted the importance of selecting strategic partners for growth.
Interest in "tap-to-earn" projects has declined by 80% since June 2024, prompting Blum to focus on AI-powered trading features to maintain user interest. CMO Vlad Smerkis confirmed the commitment to developing a comprehensive trading app and plans for multichain trading and futures trading.