Blum Raises $5 Million in Funding for Telegram-based DEX 🚀
Blum, a gamified Telegram-based decentralized exchange (DEX), has secured a $5 million investment led by gumi Cryptos Capital. Other notable investors include Spartan, No Limit Holdings, YZi Labs, and OKX Ventures. The funding will be used to enhance Blum's trading platform, which has seen rapid growth with over 32 million Telegram community members since its launch in July 2024. Notable achievements include 2.2 million unique wallets and a transition to a trade-to-earn model. Plans for the funding include implementing multichain support, expanding the trading bot, and enhancing the Blum Memepad platform for meme coin creation. Investors praised Blum's vision and user engagement strategy, contrasting it with the declining trend of tap-to-earn crypto games. Blum's focus on AI-powered trading and long-term user engagement sets it apart in the decentralized trading space.
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