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Blum: Redefine How Millennials and Gen Z Interact With Crypto

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2024-06-20 | 5m

What is Blum?

Blum is a hybrid exchange that bridges the gap between centralized and decentralized crypto trading. Launched with a vision to democratize access to digital assets, Blum offers users the ability to trade a diverse array of tokens conveniently and easily. Whether it's the prominent cryptocurrencies like Bitcoin and Ethereum, the whimsical meme coins, or the latest blockchain innovations, Blum consolidates them all into a user-friendly interface.

Who Created Blum?

Founded by a team of seasoned professionals with extensive backgrounds in global finance and blockchain technology, Blum was created to address the complexities and barriers that often hinder crypto traders. The leaders behind Blum include:

● Gleb Kostarev, Co-Founder and CEO: Former VP of Binance, who leverages his expertise in operational strategy and global market development.

● Vlad Smerkis, Co-Founder and CMO: A veteran in marketing and business development, with a rich portfolio including global brands like Red Bull and strategic roles at Binance.

● Vlad Maslyakov, Co-Founder and CTO: Bringing over two decades of experience in finance, high-frequency trading, and blockchain technology.

What VCs Back Blum?

Blum has garnered significant support, including participation in Binance MVB Season 7 Accelerator Program. This not only validates Blum's potential but also underscores its commitment to leveraging top-tier resources to enhance platform security, performance, and user experience.

How Blum Works

Blum simplifies the crypto trading experience by offering a unified platform where users can access tokens from both CEXs and DEXs . Unlike traditional exchanges that may require users to switch between different apps or platforms, Blum allows for trading across multiple chains within a single application. This eliminates the complexities associated with navigating various interfaces and managing multiple wallets. To make this possible, Blum combines the benefits of off-chain order books with on-chain settlements. This hybrid model ensures efficient trade execution while maintaining the security and transparency inherent in blockchain technology . Users have the flexibility to choose between self-custody options or utilize Blum’s Multi-Party Computation (MPC) wallet for enhanced security and ease of use.

Blum currently supports over 30 blockchain networks, including prominent chains like Ethereum, Solana, Binance Smart Chain, and Polygon. This expansive coverage ensures that users have access to a wide spectrum of cryptocurrencies, from classic tokens like Bitcoin and Ethereum to emerging meme coins and innovative L1/L2 tokens.

Designed with the Gen Z and Millennial audience in mind, Blum prioritizes simplicity and intuitive navigation. The platform’s mobile-first approach and integration with Telegram as a mini app enhance accessibility, allowing users to trade, track, and manage their crypto portfolios effortlessly. Gamified mechanics further engage users, making the trading experience akin to navigating through familiar social media interfaces.

Blum has introduced several innovative features aimed at improving user experience and engagement:

Blum Crypto Bot

Central to Blum's user onboarding strategy is the Blum Crypto Bot, a Telegram mini app designed to introduce newcomers to the world of cryptocurrency trading. Serving as a risk-free entry point, the bot allows users to earn Blum Points by completing simple tasks and engaging in platform activities. These points can later be redeemed for various rewards within the Blum ecosystem, fostering engagement and familiarity with crypto mechanics.

Blum Points

Blum Points are not just a virtual currency within the platform; they represent a tangible way for users to earn rewards and enhance their trading experience. By clicking the 'farm' button on the Blum Crypto Bot, users can accumulate points over time, with additional opportunities to earn through social tasks and referrals. This gamified approach not only incentivizes participation but also encourages community building.

Blum Drop Game

Adding a layer of excitement to the platform, Blum recently introduced the Drop Game - a fast-paced, interactive experience where users catch falling items to earn Blum Points. Each game attempt requires a Game Pass, earned through daily logins and participation in the platform. The simple game makes earning points enjoyable and encourages daily engagement.

Upcoming Features

Blum will reveal several features designed to elevate its utility and appeal, such as:

● Derivatives Trading: Catering to sophisticated investors looking to diversify their portfolios and capitalize on market trends.

● Self-Custody Wallets and Swaps: Empowering users with greater autonomy and flexibility in managing their crypto portfolios.

● Leaderboards: Introducing social elements and interactive features to foster community engagement and competitive spirit.

● Advanced Security and Accessibility: Introducing MPC Wallets for enhanced security and user control, alongside features like self-custody options to cater to diverse user preferences.

● Mobile App Launch: Scheduled for Q3 2024, the release of Blum mobile app on App Store and Google Play promises to extend accessibility to a broader audience, making it even more easy to do trading on-the-go.

Conclusion

Blum is a forward-thinking crypto platform that decides to center around the needs and preferences of Millennials and Gen Z. By focusing on user-centric features, expanding its product offerings, and maintaining a transparent approach, Blum is well-positioned to navigate the complexities of the crypto market and capitalize on opportunities in the evolving digital economy. While the possibility of a native token remains speculative and unconfirmed, Blum's proactive approach to enhancing its platform underscores its dedication to delivering a superior trading experience.