Binance Labs, the venture capital arm of the largest cryptocurrency exchange Binance, has recently invested in a groundbreaking new project called Blum. Blum is an innovative decentralized crypto exchange that is seamlessly integrated into the Telegram platform. This strategic investment by Binance Labs is set to achieve two primary objectives: accelerating the development and growth of Blum, and enhancing its visibility among crypto enthusiasts worldwide.
Rapid Growth and Unique Features of Blum
Blum has created quite a buzz in the crypto space since its launch on April 19 this year. The platform’s innovative approach attracted a whopping 100,000 users within the first 24 hours. Blum can be accessed directly within the Telegram application, leveraging Telegram’s massive user base of over 950 million monthly users. Currently, Blum boasts over 60 million registered users and 18 million daily active users, making it the third most popular crypto platform globally.
Despite being a decentralized crypto exchange, Blum has incorporated the widely-recognized tap-to-earn model. This engagement mechanism isn’t a game but encourages user interaction within the app through rewards and points. Users can earn rewards by performing tasks like connecting their TON wallet and watching videos. This strategy has proven effective, with over 30% of users connecting their wallets. Additionally, Blum’s Telegram channel has grown to over 22 million subscribers.
Highly Awaited Airdrop
The community is eagerly anticipating Blum’s airdrop, scheduled for next week on September 20. Following the airdrop, the $blum token will be listed on Binance and other major crypto exchanges. The initial listing price for the token is expected to be $0.1667. Blum’s roadmap includes launching a memepad feature that will allow users to mint and trade tokens directly on the platform. The exchange has also secured partnerships with leading crypto platforms such as OKX, Bybit, and Bitget, along with collaborations with popular artists and rappers.
Strategic Approach
Blum uniquely combines the best features of both centralized and decentralized crypto exchanges. By launching as a Telegram in-app platform, it allows users to seamlessly transition between messaging and using the exchange, eliminating the need for two separate apps. This feature significantly reduces user acquisition costs, making Blum an attractive proposition for investors.
The support from Binance Labs and other investors underscores the confidence in Blum’s potential to disrupt the crypto exchange space. As the platform continues to grow and evolve, it will be fascinating to observe how it shapes the future of decentralized finance on a global scale.
