Blum Overview
Introduction
Blum is a hybrid cryptocurrency trading platform. According to the official description, BLUM will provide a gamified user experience through a Telegram mini-program, allowing users to easily acquire various tokens and access centralized exchanges (CEX) and decentralized exchanges (DEX) tokens on a unified interface, supporting more than 30 different blockchains. In addition to basic trading functions, Blum will also provide a range of value-added services, including AI-assisted trading navigation, peer-to-peer trading, and derivatives trading.
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Blum (Source:Twitter)
Currently, Blum’s trading function has not yet been launched, and the main launch is the Tap to Earn mini-game - users can earn points by clicking on the screen and playing the mini-game. BLUM has already gained over 10 million users through the Mining mode of earning points in the mini-game.
Background and Financing
In March this year, former Binance executives Gleb Kostarev and Vladimir Smerkis teamed up to establish Blumexchange. Kostarev previously served as Binance’s regional head for Eastern Europe, the Commonwealth of Independent States (CIS), Turkey, Australia, and New Zealand, while Smerkis was the general manager of Binance in the CIS region. In addition, Blum’s team includes Degenie, who was formerly the design director of Binance and Trust Wallet, and now serves as VP and co-founder of Blum.
In March this year, Blum was selected as the most valuable builder (MVB) of BNB Chain in the seventh season of the program. On September 11, Blum received an investment from Binance Labs, and the specific amount was not disclosed.
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Blum received an investment (source:Twitter)
Project Vision
Blum will leverage the powerful features of the Telegram mini-program to provide a seamless Crypto Assets trading experience. While many developers have already considered Telegram as an ideal platform for online games, Blum believes that its flexibility and accessibility are equally suitable as a trading infrastructure. Blum aims to create a fast and user-friendly interface, allowing users to easily complete Crypto Assets purchases without dealing with complex trading processes or long confirmation times, simply by taking out their phones and making a few clicks.
In addition, Blum also plans to enhance user engagement through gamification. As stated in its mission statement, Blum believes that buying Crypto Assets should not only be profitable but also enjoyable. By integrating features such as leaderboards, Blum plans to create a community that turns trading into a fun and competitive activity.
Blum Products
Hybrid exchange
Blum operates through a mixed Cryptocurrency exchange model, cleverly combining the advantages of Centralized Exchange (CEX) and Decentralized Exchange (DEX).
First of all, Blum adopts an off-chain order book to process transactions, similar to a traditional centralized exchange - this allows users to quickly find buyers and sellers and maintain liquidity. However, Blum uses an on-chain settlement mechanism during settlement to ensure that each transaction is confirmed and recorded on-chain in a block, ensuring transparency and security. Users can choose to use self-hosted wallets to directly manage their encryption assets without relying on third parties for asset custody and transfer.
Blum’s trading platform will operate based on the Telegram mini App, which allows users to access the platform and trade easily without the need to download any additional applications. In addition, Blum’s interface is carefully designed, combining elements like MEME to provide a fast and convenient trading experience.
In addition to trading, Blum also incorporates gamification and social elements. Users can earn points by completing transactions, participating in community activities, and compete with other global users through leaderboards. Points not only make trading fun, but also can be exchanged for rewards, increasing user engagement. Blum’s Cryptocurrency robot provides simplified guidance and support for new users, making the entire trading experience more interactive and entertaining.
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Blum exchange interface (source:Blum）
Telegram Mini Games
Blum launched a Telegram mini-game on April 19th, which has a points system and various interactive modes. Users can earn points by playing games and then obtain Blum Token after the Airdrop goes live.
Blum’s mini-games have four modules: Home, Earn, Frens, Wallet. In the Drop game, users earn points by catching virtual coins that fall from the screen, adding to the platform’s entertainment and interactivity. At the same time, Blum supports users in creating or joining ‘Tribe’ (similar to clans or teams), and after teaming up, they can get a 10% bonus in points.
In the “Farm” mode, users do not need to deposit Tokens, they only need to accumulate points automatically over time, making it easy for users to participate. Currently, the platform is in the stage of accumulating Blum points for users, and these points can be used to redeem Tokens in the future. In order to enhance the security of the community, Blum has also launched a witch reporting program, where reporters can receive a 1% point reward.
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Blum Drop Game（Source:Telegram)
In the “Earn” module, users can earn points by completing tasks, including watching YouTube tutorial videos or liking social media content. In the “Frens” module, users can earn additional points by inviting fren to participate. The “Wallet” module allows users to connect TON wallet to record and manage points.
Through these diverse participation mechanisms, Blum not only simplifies Cryptocurrency transactions, but also increases user stickiness and platform activity through gamification and social interaction.
Blum Interaction
Points
Blum Points is the currency of the Blum ecosystem. Earning points in the Blum Telegram mini-program allows users to climb the leaderboard and redeem various benefits within the system. Blum implies that the points will be exchangeable for ‘exciting things’ in the future, following the pattern of other Web3 games. Therefore, actively participating in low-threshold Blum mini-games is the best practice to receive Airdrop if Blum follows the convention of distributing tokens as Airdrop.
Mini-game interaction
In Blum, users can accumulate points in multiple ways, including getting points by clicking, completing tasks, inviting, etc.
First of all, in the Drop Game, users can earn points by catching virtual coins by tapping the screen. In addition, players can also create or join a Tribe to fight alongside other players, thereby gaining a 10% bonus in points. In Farming mode, users can automatically earn points over time without depositing Tokens, achieving “Mining” for points, dropping the participation threshold, and attracting more users.
In the Earn module, users can also earn points by following specified X accounts, viewing specified videos, playing specified games, etc.
Finally, in Frens, users can earn points by inviting new players. Players who invite Telegram Premium players will also receive bonus points. Players can also receive 10% Dividend from the invited new players.
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Blum’s product interface (Source: Telegram)
Summary
Future
Blum officially launched its roadmap in the early stages of the project, with plans to launch the MPC Wallet and Perptual Futures features in the third quarter of 2024, and to go live on the App Store and Google Play. Then, in the fourth quarter of 2024, the web version of the exchange will be launched. Finally, Blum also plans to go live with the web version in the fourth quarter.
According to Blum’s recent statement on Twitter, Blum will also regularly update project progress and provide user education. In terms of user education, Blum has sufficient plans. On the one hand, it aims to transform ‘Airdrop Hunters’ into true long-term investors through Blum Academy. On the other hand, it aims to attract more users to enter the cryptocurrency field and promote the widespread adoption of blockchain.
In addition, Blum Labs has already invested in five projects and will continue to seek and invest in more Compliance projects to be included in Blum’s ecosystem, and Blum will also reward users who recommend excellent Compliance projects.
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Blum Roadmap (Source:Twitter)
Conclusion
As an innovative Cryptocurrency trading platform, Blum aims to simplify users’ trading experience and increase user engagement by integrating gamification elements through the Telegram mini-program. With its unique hybrid exchange model and gamification mechanism, Blum effectively lowers the entry barriers for new users, facilitates the smooth transition of Web2 users to Web3, thereby enhancing the transparency and security of transactions, and providing users with easy access to various Tokens.
Although Blum’s trading function is not yet online, Blum has successfully accumulated tens of millions of users through its innovative community building and user participation mechanism. This rapidly rising user base reflects Blum’s vast potential in the future. Among many projects based on ‘dot dot dot’ games, Blum stands out and aims to provide users with not just entertainment, but practical trading solutions.
With the further development of Blum, the launch of future product features such as exchange and derivatives trading will provide users with a more comprehensive trading experience. In addition, Blum’s success has also pointed the way for the Web3 ecosystem of the Telegram platform, proving that the combination of gaming and trading can effectively drive user participation.
In short, Blum is not only an emerging project within Telegram, but also an important milestone in the development of the Web3 industry. We look forward to Blum’s continued innovation in the future, providing users with a better trading experience and community services, and promoting the progress and development of the entire industry.
