Blum Token Launch Nears as Community Waits for Clarity
Blum, a cryptocurrency exchange combining both centralised and decentralised trading, is gearing up to release its native token, BLUM, in June. The platform was introduced in April 2024 and aims to make digital asset trading easier for younger users. It operates mainly through a Telegram mini-app and a mobile application, offering a blend of convenience and gamified features.
With its foundations built on The Open Network (TON), Blum focuses on creating a user experience that fits seamlessly with Telegram’s messaging interface. The platform has attracted attention for its fun and simplified design, aiming to lower the entry barrier for newer crypto users.
Image 1: BLUM (Source: holder.io)
Airdrop Reactions Stir Excitement and Frustration
As the BLUM token prepares to go live, Blum’s team has confirmed that an airdrop event is part of the rollout. The distribution is expected to begin this June, with early participation tracked through a snapshot mechanism in early June. However, the platform has not yet provided an exact launch date, leaving many users in limbo.
To help participants confirm their eligibility for the airdrop, Blum released a verification tool. The results have been mixed. While some users were pleased to discover they were included, others voiced disappointment after learning they did not meet the criteria. In some cases, users believed they had actively participated in previous activities but were still marked ineligible due to insufficient activity on record. This outcome has led to concerns about the fairness and transparency of the process.
Adding to the tension is the platform’s decision not to list BLUM on any centralised exchanges for now. Instead, it will only be tradable on decentralised exchanges and through Blum’s in-app trading bot on Telegram. This bot is similar to tools used in other Telegram-based crypto projects and is seen as a key feature of the Blum ecosystem.
Despite the unclear listing date, the announcement alone generated a strong response from the crypto community. Many were eager to see how the token would perform, while others raised doubts due to past delays. Originally, the token was expected to go live late last year. That timeline shifted to early 2025 before being brought forward again to June 2025 — but without a firm launch date.
A crypto commentator wrote:
“So you don’t have the money to list on major centralized exchanges like Binance, OKX, Kucoin etc
You just want to list on Decentralized exchanges so that the community will stop disturbing you about tge and just accept that they’ve been scammer by $Blum”
Ongoing Development and Community Concerns
Blum has been working to expand its product offering within the TON blockchain environment. The team reported that its Telegram-based trading bot has amassed more than 700,000 users and has processed over $50 million in trading volume. Additional features are also in development, including a new trading terminal tailored for Telegram users and tools for project launches within the TON network.
Still, not all feedback has been positive. Some users have expressed concern about the authenticity of the platform’s user base. Allegations have surfaced suggesting a large portion of users might be automated accounts or bots. Blum has rejected these claims and pointed to data indicating over 440,000 genuine traders and a total trading volume surpassing $70 million. According to the team, more than 340,000 tokens have been launched on Blum, with around 1,000 of those moving to decentralised exchanges.
However, the presence of gamified features and social incentives has raised questions about the token’s long-term viability. While BLUM is not considered a meme coin, critics say its value may depend too heavily on its entertainment appeal and Telegram-centric model, rather than broader utility or adoption outside of its niche environment.
Image 2: Blum (Source: The Crypto Times)
Challenges Ahead Before Full Launch
In addition to the concerns about eligibility and user numbers, the project has faced scrutiny due to the recent legal troubles of its co-founder, Vladimir Smerkis, reportedly linked to fraud, although the allegations do not directly involve Blum. This has stirred unease among some community members, who fear that such associations could affect the platform’s reputation.
Also, the possibility that the token may experience sharp price swings upon listing is high. It’s common for tokens associated with social platforms or gamified exchanges to surge in price early on before falling sharply, which could make some investors hesitant.
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Despite the uncertainty, a portion of the community remains hopeful. Some have celebrated their eligibility for the airdrop and have made bold predictions about the token’s future value. However, until Blum sets a clear launch date and provides stronger communication around its roadmap, questions about its direction and credibility are likely to continue.
For now, the launch is set for June, but without a fixed date, the wait goes on. Whether BLUM manages to succeed or faces the same fate as many other overhyped tokens will depend on how the team handles the next few weeks.
