UAE-Based Blum Aims to Transform Web3 Trading
UAE-based Blum, a decentralized trading platform, has raised $5 million in pre-seed and seed funding rounds led by gumi Cryptos Capital, alongside Spartan, No Limit Holdings, YZi Labs, and OKX Ventures. The investment will help enhance its infrastructure, improve trading functionalities, and expand across multiple blockchain networks.
What is Blum? What are they trying to do?
Founded in 2024 by Gleb Kostarev and Vladimir Smerkis, Blum is a decentralized exchange (DEX) that operates as a Telegram mini-app, offering users seamless token trading through gamification. The platform has already gained significant traction, boasting:
- 32 million community members on Telegram
- 2.2 million registered wallet activities involving crypto
- 1 million users engaging with its intelligent trading bot
From “Click to Earn” to “Trade to Earn”
Blum initially launched with a “Click to Earn” model but has now transitioned to a “Trade to Earn” strategy, encouraging active participation rather than passive engagement. This shift ensures a more sustainable and engaging trading experience for users. Moreover, this model also helps educate a wide array of users to trade properly.
Funding + Strategic Partnerships
Beyond financial backing, Blum’s latest funding round also includes strategic partnerships with industry leaders. According to CEO Gleb Kostarev and CMO Vlad Smerkis, this move is crucial to:
- Enhance platform security and efficiency
- Strengthen market positioning
- Develop more advanced trading tools
What’s Next for Blum?
With this funding, the platform is currently focused on:
- Expanding operations across multiple blockchains in the crypto world
- Developing intelligent trading solutions for the users for all sorts of financial instruments
- Providing users with greater flexibility in managing digital assets on their phones and computers
As the Web3 space continues to evolve, Blum is positioning itself as a key player in the decentralized trading ecosystem, offering users a seamless, community-driven trading experience.
