Blum is a new cryptocurrency exchange platform launched by former Binance executives. It aims to merge the benefits of both centralized exchanges (CEX) and decentralized exchanges (DEX) into a hybrid platform. Blum allows users to trade assets across different blockchain networks with features like off-chain order matching and on-chain settlement, enhancing both speed and security. Users can trade directly from their wallets, maintaining control of their assets while using Blum's platform.
Blum also incorporates gamified elements, like its point-based system. Users can earn Blum Points through activities such as "farming" in the platform's Telegram mini-app, completing social tasks, and finishing daily assignments. These points will eventually be convertible into BLUM tokens, which are expected to launch in October/November 2024. Although BLUM tokens are not mineable, the point-farming method offers an alternative way to obtain them.
The platform is primarily targeting the Asian market and plans to establish a regulatory foothold in crypto-friendly regions like Georgia and Dubaiă16â sourceăă17â sourceăă18â sourceă.