Blum, a Telegram -based decentralized exchange (DEX) , has secured $5 million in funding to enhance its AI-driven trading platform. The investment round was led by gumi Cryptos Capital, with participation from well-known venture firms like Spartan, No Limit Holdings, YZi Labs, and OKX Ventures. The funds will be used to improve Blum’s trading bot and Memepad platform, strengthening its position in the TON ecosystem , where it aims to become a leading multichain platform. Since its launch in July 2024, Blum has gained significant traction, attracting over 32 million members in its Telegram community. The project’s success is largely due to its shift from a "tap-to-earn" model to a "trade-to-earn" approach, which has encouraged long-term engagement. Blum has recorded 2.2 million unique wallets with the highest on-chain activity, making it a key player in decentralized trading. One of Blum’s standout features is its trading bot, which has already surpassed 1 million users, making it the largest of its kind on Telegram. The team is now working on expanding its capabilities with multichain support. Additionally, the Memepad platform, which enables users to create meme coins, is leading The Open Network (TON) and ranks second globally with $200 million in trading volume. So far, users have created 200,000 tokens, with 380 listed on decentralized exchanges. Investors saw several reasons to support Blum: its high user engagement, its successful shift to a sustainable earnings model, and its potential to dominate the TON ecosystem, which currently lacks a major DEX. The funding will help Blum accelerate feature rollouts, ensuring a seamless trading experience. Blum’s funding round also included backing from The Open Platform (TOP) and Binance Labs, highlighting the strong industry confidence in its vision. CEO and Co-Founder Gleb Kostarev emphasized that securing capital was not just about money but about selecting the right partners to enhance the platform’s growth. The decline of "tap-to-earn" projects, such as Hamster Kombat and Notcoin, has shown the difficulty of maintaining user interest solely through incentives like airdrops. Interest in this model has dropped by 80% from June to December 2024, according to Google Trends. Blum has adapted by focusing on AI-powered trading, ensuring users remain engaged with advanced features rather than temporary rewards. CMO & Co-Founder Vlad Smerkis reinforced the company’s commitment to building a trading app that caters to both traders and the community. Blum is taking a careful, step-by-step approach to feature development, including multichain trading, an AI-enhanced Memepad, and futures trading. With strong investor support, the team is confident in its ability to bring these innovations to life at an accelerated pace.
