Blum Announces Fresh Strategy and Planned Launch of $BLUM Token in June
Blum, a cryptocurrency platform, has announced a strategic shift following collaborations with investors, exchanges, and significant stakeholders. The highly anticipated $BLUM token is set to debut in June, available both on the Blum app and decentralized exchanges.
A snapshot process for token distribution amongst team members will occur early next month, before the token's launch. Despite the departure of co-founder Vladimir Smerkis, the remaining team remains optimistic about Blum's potential to achieve its key objectives in the future.
Originally conceived as a multichain network, Blum is now focusing on a more prominent role within The Open Network (TON) framework. The company uses Telegram as their primary system, with plans to upgrade their Telegram Trading Bot, currently supporting over 7,000 users and handling trade volumes exceeding $50 million. Upcoming updates include a Telegram-centric trading terminal and an expanded TON launchpad for trading coins built on the TON network.
Blum disputes recent claims that 99% of its user base consists of bots, stating that there is no solid evidence or credible information supporting the allegations. According to TradeAfair, Dune's public records show over 440,000 traders, a trading volume surpassing $70 million, more than 340,000 tokens, and almost 1,000 tokens now traded on decentralized exchanges.
Blum has expressed intentions to streamline and improve on-chain trading for Telegram's vast user base. The team has scheduled an AMA (Ask Me Anything) session for next week to engage with the community and address their inquiries.
In a separate development, the ex-Binance executive and Blum co-founder, Vladimir Smerkis, was recently arrested in Russia. Further details regarding his arrest are not available at this time.
The team's strategic decisions and future plans within the TON ecosystem underscore Blum's commitment to strengthening its presence within the Telegram community and maintaining its status as a hybrid exchange platform.
Technology plays a significant role in Blum's vision for the future, as they aim to streamline and improve on-chain trading for Telegram's user base, with upcoming updates including a Telegram-centric trading terminal. Additionally, the team plans to upgrade their Telegram Trading Bot, a technology currently supporting over 7,000 users and handling trade volumes exceeding $50 million.
