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Former Executives of Binance Choose Blum: Earning Through Gaming

Binance choose Blum, a decentralized exchange (DEX), has gained significant attention in the cryptocurrency community. Founded by former Binance executives Gleb Kostarev and Vladimir Smerkis, along with Degenie (former design director of Binance and Trust Wallet)

In recent news, former senior executive Gleb Kostarev and Vladimir Smerkis from Binance choose Blum, a new crypto exchange, which is quickly gaining traction among cryptocurrency enthusiasts. Blum’s innovative approach of combining gamification with cryptocurrency is making it a standout project. This article explores the rise of Blum, its unique features, and how it has managed to attract millions of users even before its trading functions have been launched.

binance choose blum
Former Executives of Binance Choose Blum: Earning Through Gaming 2

The Genesis of Blum

Former high-ranking officials Gleb Kostarev and Vladimir Smerkis at Binance choose Blum in March. Kostarev previously served as the regional head for Eastern Europe, the Commonwealth of Independent States (CIS), Turkey, Australia, and New Zealand, while Smerkis was the President of the CIS region. The team also includes Degenie, former design director of Binance and Trust Wallet, who now serves as the VP of Blum and is one of the co-founders.

Blum has been selected for the seventh season of Binance Labs’ Most Valuable Builder (MVB) accelerator program. This shows why Former Executive of Binance choose Blum. Although being selected does not guarantee investment from Binance Labs, it does provide a significant boost to Blum’s credibility and visibility in the crypto community.

What is Blum?

Blum is a decentralized exchange (DEX) that offers token trading from both centralized and decentralized platforms. It simplifies derivatives trading and allows users to purchase tokens from various networks. Blum differentiates itself by not holding user funds; instead, users can create Multi-Party Computation (MPC) wallets or connect their existing wallets such as Ton Wallet, Trust Wallet, and Metamask.

The exchange also plans to offer futures trading and a mobile app, along with a mini-app within Telegram. This strategy aims to make trading more accessible and user-friendly.

Gamification: The Key to Blum’s Rapid Growth

Despite not having launched its trading function yet, Blum has managed to attract over 10 million users through its innovative gamification model. Users can earn Blum points, which can later be converted into Blum cryptocurrency, by participating in various mini-games and activities. Here’s how it works:

Social Media Engagement: Similar to traditional airdrops, users must subscribe to official social media accounts or invite friends to earn points.

Drop Game: In this game mode, users tap the screen to catch falling gold coins and earn points.

Farm Mode: This mode allows users to automatically mine points over time without depositing tokens.

While Binance choose Blum, the rapid user growth is evident from its Telegram channel, which has surpassed 7.63 million subscribers, adding 6.6 million in just one month. This makes it the fifth largest encrypted social channel on Telegram globally.

The Broader Context: TON Ecosystem and Mini-Games

Blum’s rise is part of a larger trend within the TON (The Open Network) ecosystem, where click-screen mini-games have become extremely popular. Other games like Hamster Kombat and Tapswap have also seen user numbers soar, with Hamster Kombat recently surpassing 100 million users.

However, the success of these games also brings challenges. Many projects in the TON ecosystem have yet to launch token airdrop plans due to the sheer number of users, which would dilute the rewards. Additionally, the influx of bot accounts has led some projects to delay launches and implement stricter anti-cheating measures.

Despite these challenges, the TON public chain has seen a significant increase in activity. According to Token Terminal data, TON now has over 4.8 million monthly active users, up from less than 500,000 before mid-March. This growth has been driven largely by the popularity of mini-games.

Binance Choose Blum: What’s Next?

According to Blum’s official roadmap, trading and self-hosted wallets are expected to launch in the second quarter of 2024. As after Binance choose Blum it continues to develop, its innovative approach and strong backing from former Binance executives position it as a project to watch in the cryptocurrency space.

While Binance choose Blum, it’s ability to attract millions of users through gamification before even launching its trading functions is a testament to its potential. As it moves towards offering more comprehensive trading services, Blum could become a major player in the decentralized exchange market.

Also Read: Blum Binance: The Next Big Thing on Binance

Disclaimer

The content presented here may express the author’s personal opinions and is subject to change based on market conditions. It is crucial to conduct your own market research before investing in any cryptocurrency. Neither the author nor this publication assumes any responsibility for any financial losses you may incur.