Binance Labs, a fund put together by Binance to support promising projects has backed the Blum project by investing in the decentralized exchange as it looks to launch its airdrop event on September 20.
The news about the new investment by Binance Labs was broken by Gleb Kostarev, the co-founder of Blum and an ex-employee of Binance.
Mr. Gleb shared the development with his X community where he commands 3.2 million followers with the post garnering over 84,000 views.
“BinanceLabs has invested in @blumcrypto. Congrats to the Blum community!” Gleb posted
The backing by Binance implies that the listing of the $Blum token on the platform is very likely ahead of its September 20 airdrop event.
Blum is one of the airdrop campaigns Nigerians are heavily invested in and the news of Binance labs backing the project will instill hope in the Nigerian Web 3 community which is growing restless with the delays and disappointments following most of the Airdrop campaigns that trended in the community this year.
Blum Airdrop scheduled for September 20
Blum Airdrop is scheduled to be held on September 20 and the event is marked as one of the biggest airdrop events in the industry. Blum has one of the largest communities in the industry with the project recently hitting a milestone of 6 million subscribers on YouTube.
The Project co-founded by two Binance ex-employees hopes to create an exchange that combines the qualities of a centralized exchange and a decentralized exchange
$Blum tokens are currently mined by participating in the Airdrop campaign hosted on Telegram and completing tasks.
The current price is $0.1667 per token and the Blum Token will be listed on Binance and other top exchanges by the end of September or early October.
Blum’s Unique features
Blum as a project has some unique features that set it apart from other projects. The exchange runs a hybrid exchange which milks the best of Centralized and decentralized exchanges. The project is integrated into Telegram Mini apps and its airdrop campaign is hosted on Telegram where participants can earn Blum points by completing Tasks.
Blum also supports Direct Wallet Trading and meme-based trading.
What to Know
Blum tokens can be mined on Telegram just like any other play to earn crypto projects. The project despite being an exchange falls under the Tap to earn crypto projects due to its Airdrop activities. Participants also earn more Blum tokens by completing tasks.
Blum is quite popular in the Nigerian space and was the next project after Tapswap to gain the attention of the Nigerian Web 3 community.