Blum, a decentralized exchange (DEX) built on Telegram, has raised $5 million in a funding round led by gumi Cryptos Capital. The funds will be used to further develop Blum's trading platform, which has garnered attention for its rapid growth and large Telegram community of over 32 million members. Blum has achieved notable milestones since its launch in July 2024, including the highest on-chain activity with 2.2 million unique wallets. The project plans to implement new features, such as multichain support and expansion of its trading bot. Blum also aims to develop its Blum Memepad platform, which allows users to create meme coins. The project has shifted from a tap-to-earn model to a trade-to-earn model, focusing on AI-powered trading and long-term user engagement. The funding round included participation from prominent venture funds such as Spartan, No Limit Holdings, YZi Labs, OKX Ventures, and more.



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