Blum is a decentralized exchange that will be available in Telegram in the future. At the moment, the service is a mini-application in the popular messenger. Users can earn special points with the possibility of converting them into tokens in the future.
The creators of Blum were ex-managers of the crypto exchange Binance – Vladimir Smerkis and Gleb Kostarev. The developers pursue quite ambitious goals. According to their statements, in the future Blum will combine more than 30 blockchains in a single application. It is expected that the platform will support popular non-custodial wallets: for example, MetaMask and Trust Wallet.
Who is behind the startup’s development
As mentioned earlier, the Blum platform was created by Vladimir Smerkis and Gleb Kostarev. Both specialists have impressive experience in the crypto industry. For example, Kostarev was previously the regional head of Binance in Turkey and Eastern Europe. In turn, Smerkis was responsible for the work of the crypto exchange’s division in the CIS market.
Both specialists left Binance during the period of global personnel changes among top management. Now the founders of Blum are in the UAE and plan to create in the country the official headquarters of their service. They are also in active negotiations regarding the attraction of institutional investments.
How to start farming tokens
At the moment, Blum is a Telegram application in the Play-to-Earn segment. To participate in it, the first thing you need to do is to open a special bot and enter your nickname.
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After that, on the main tab you can start farming tokens and playing simple games to maximize the reward. It is worth noting that coins are automatically credited every 8 hours. Users need to occasionally open the app and restart farming.
There is a reward system in place for logging into the app every day. If the user opens the Telegram bot 7 days in a row, he will receive 280 BPs tokens and 28 additional tickets to participate in the internal game.
How to maximize rewards
The potential earnings are not limited to just logging into the game every day. Users have several ways to increase their rewards:
- Completing simple tasks. Presented in the Tasks section. They are quite diverse: for example, subscribing to social networks and Discord communities. It’s worth noting a curious flyhack. The application does not check the user’s subscription to YouTube and X. It is enough just to click on the specified links. Then you need to reopen the application in Telegram – the reward will be credited.
- Invite referrals. In the Frens section you can send a link with an invite to your friends. For each referral the player receives up to 10% of his tokens.
- Drop Game. The idea of the game is to click on the screen and catch green snowflakes with a time limit. Sometimes blue crystals appear. They stop the time countdown for a few seconds. There are also bombs of gray color. If the user clicks on them, he automatically loses 100 tokens.
It should be taken into account that participation in the game costs 1 ticket. However, as you enter the app daily and complete tasks, they will be accumulated.
What are the startup’s development prospects and when tokens will be listed
Behind the creation of Blum are strong specialists with extensive experience in the cryptocurrency segment. In the future, the game application may turn into a full-fledged exchange, which will be integrated directly into Telegram. Users will be able to exchange assets from MetaMask and Trust Wallet. The platform will feature a variety of instruments, ranging from non-exchangeable tokens to cryptocurrency futures.
According to the developers’ statements, they will conduct a large-scale airdrop among the participants in the future. Speaking specifically about the listing, there is no information about it. Recently, the authors published a roadmap for the development of the startup, but nothing is said about the timing of the appearance of tokens on exchanges. However, in social networks users express the opinion that the listing may take place in the 3rd quarter of 2024 in parallel with the launch of specialized MPC wallets.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.