Blum, a Telegram-based decentralized exchange (DEX), has raised $5 million in funding to drive the development of its AI-powered trading features. Led by gumi Cryptos Capital, with participation from Spartan, No Limit Holdings, YZi Labs, and OKX Ventures, this funding will be used to enhance Blum’s platform and expand its user base.
Since its launch in July 2024, Blum has rapidly grown to over 32 million members, making it one of the largest Telegram communities in the crypto space. The platform’s transition to a trade-to-earn model, which replaced the previous tap-to-earn approach, has contributed to its success, with more than 2.2 million unique wallets engaging with Blum’s services.
Expansion Plans and New Features
Blum plans to enhance its AI-powered trading bot, which already has 1 million active users, and introduce multichain support for wider blockchain integration. Additionally, Blum’s Memepad platform, which allows users to create meme coins within the TON ecosystem, is also set to expand, further solidifying its position as a leader in decentralized finance.
CEO Gleb Kostarev expressed excitement about the future, emphasizing Blum’s commitment to providing long-term value and improving user experience. With the backing of prominent investors and a clear growth strategy, Blum is poised to become a major player in the DeFi ecosystem.
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