Telegram-Based Decentralized Exchange Blum Receives Investment From Binance

Blum, a decentralized exchange that built a clicker game on the Telegram Mini-Apps Ecosystem for airdrop points farming, has qualified for BNB Chain’s Most Valuable Builder (MVB) Program and secured investments from Binance Labs, the venture capital arm of international crypto exchange Binance. 

What’s the significance: According to Blum CEO Gleb Kostarev, the investment they received will accelerate Blum’s trading infrastructure and development. (Read more: New Tap-to-Earn: Blum Decentralized Exchange’s “Drop” Game on Telegram | Potential Airdrop Guide)

[Check out the Telegram “Drop” Game from Blum here.]

Key Details: The MVB Program is designed to support and accelerate growth for Web3 innovators within the BNB Chain ecosystem.

• Program Team: The team behind the program consists of BNB Chain, Binance Labs, and CMC Labs, the startup accelerator arm of CoinMarketCap. 
• What Season is Blum Qualified? This is the seventh season of the MVB Program. 
• Season 7 Applicants: For this season, Binance Labs said that they received over 700 applications. 

• Season 7 Chosen Applicants: There were 13 qualified applicants. Five of them, including Blum, have already received investments from Binance Labs. The other four are:
  • Aggregata,a one-stop platform that unifies AI data, models, and computing.
  • Opinion Labs, which is building dynamic opinion and continuous prediction markets.
  • SideKick, a consolidation hub for social, games, and other web3 use case. 
  • Vooi, a cross-chain perp DEX aggregator supporting EVM and non-EVM chains. 
• Benefits of Qualifying in MVB Program: 
  • Founders and team members received personalized mentorship from experts at BNB Chain, CMC Labs, and Binance Labs. 
  • They will also receive invaluable insights from other dApp founders through fireside chats. 
  • The project will have access to the BNB Chain Launch-as-a-Service (LaaS) package, offering support in infrastructure, security, treasury management, business growth, and marketing, valued at up to $300,000.

Key Quote: 

“Blum’s inclusion in BNB Chain’s MVB Season 7 was always part of the plan but some legal and administrative matters had to be finalized before announcing. Stay tuned for updates and success stories from these pioneering projects as they continue to shape the future of Web3.”

By the Numbers: As of September 25, 2024

• 53.55 million: Blum’s monthly Telegram users. 
• 18 million: Average daily players. 
• 20 million: Total players that connected their web3 wallet on Blum TG game.  
• 26.92 million: Total Telegram community.
• 5.1 million: Total X followers.
• Q4 2024: The target date that the Blum game on TG will be a fully functional DEX with its core features.

What’s next: The Blum team already expressed their plans to introduce a memepad feature that will allow users to mint their tokens within seconds and trade them directly on the platform. 

• Blum has also entered partnerships with other international exchanges OKX, Bybit, and Bitget, with the details of the partnerships to be published soon. 

This article is published on BitPinas: Telegram-Based Decentralized Exchange Blum Receives Investment From Binance

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