The post TON’s Blum Aims for Dominance with Support from The Open Platform and Binance Labs appeared first on Coinpedia Fintech News
Blum, which is a prominent decentralized exchange on the TON ecosystem, is set to become the top player in the network, as it has recently received strong financial and technical backing from The Open Platform. Here is what you should know.
Blum Secures Investment and Support from TOP
Reports say that Blum has received huge support from The Open Platform. However, it is unclear how much the exchange has received from TOP. Earlier, TOP established a $10 million growth fund to support development activities within the TON ecosystem.
The true strength of the TON ecosystem lies in its 950 million monthly users. Blum aims to capture a good share of this user base. Reports say that Blum targets to become the top player in the ecosystem.
Rapid Growth and Investment from Binance Labs
A couple of months before, Binance Labs made a huge investment in Blum. It has helped Blum achieve a significant improvement in its user base. Blum, with about 85 million users, is now the most popular mini-app on Telegram.
The investment from TOP is expected to be primarily used by Blum to enhance its interface. Vladimir Smerkis, the CMO of Blum, asserted that the technical support from TOP will help the exchange launch new features more swiftly.
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Increasing Investments in TON
TOP is not the only firm to invest in projects within the TON ecosystem. Recently, at least $30 million was invested in GameFi and tap-to-earn projects on TON by Bitget and Foresight Ventures.
In conclusion, Blum’s partnership with TOP could transform its platform, bringing it closer to becoming the top player in the TON ecosystem.