NAIROBI, Kenya – Blum CEO and Co-Founder Gleb Kostarev made his first public appearance since the departure of co-founder Vladimir Smerkis.
Key takeaways
- Blum’s CEO Gleb Kostarev outlined a renewed focus on simplifying on-chain trading within Telegram and the TON ecosystem ahead of the June $BLUM token launch.
- The company introduced a new Cradle Airdrop model rewarding active, long-term users and implemented Sybil detection to ensure fair token distribution.
- Despite leadership changes, Blum is advancing its roadmap with expanding products, strong market growth, and plans for staking, buybacks, and token utility.
Speaking to more than 15,000 participants during a recent AMA session on YouTube, Kostarev, alongside other co-founders, outlined Blum’s updated strategy ahead of its upcoming Token Generation Event (TGE).
The discussion covered new product developments, changes to token mechanics, and a renewed focus on the TON blockchain ecosystem.
Kostarev emphasized the company’s goal of simplifying on-chain trading and making it accessible within Telegram, which has nearly one billion users.
He also addressed recent leadership changes and concerns related to bot activity on the platform.
“This is not just about launching a token, it’s about reshaping how people trade on-chain. We’re focused on building lasting tools where users already engage, starting with Telegram and TON,” Kostarev said.
Among the key announcements was confirmation that the $BLUM token will be listed in June 2025, with a snapshot for token distribution taken on June 7.
While discussions with centralized exchanges continue, the company’s immediate priority is to encourage usage within its own ecosystem, including its Telegram mini-app and trading bot.
Blum also introduced a new “Cradle Airdrop” model designed to reward long-term, active participation rather than retroactive token farming.
Co-Founder and CTO Vladimir Masliakov explained that the approach promotes gradual, earned engagement and fairer distribution among users.
To maintain the integrity of the token launch, Blum has implemented a Sybil detection mechanism to identify fraudulent activity.
Users who believe they were mistakenly flagged can submit appeals for manual review prior to the token snapshot.
In response to evolving Telegram mini-app policies, Blum is focusing its efforts on the TON blockchain.
Planned expansions include a trading bot used by over 700,000 traders with more than $50 million in volume, a Telegram-native trading terminal, and a TON launchpad for on-chain token trading.
Future features will include staking, token buybacks, and burns intended to support long-term token value.
Regarding token utility, the $BLUM token will offer benefits from day one, such as in-app fee discounts, staking advantages, and eligibility for future airdrops.
The tokenomics model incorporates buyback and burn mechanisms to align with long-term incentives and reduce speculative volatility.
Addressing the leadership transition, Kostarev noted that co-founder Vladimir Smerkis stepped down due to a legal case in Russia.
Kostarev expressed respect for Smerkis’s decision, appreciation for his contributions, and ongoing support for his family, while reaffirming the team’s focus on executing Blum’s roadmap.
Blum continues to gain traction in key markets including Nigeria, Vietnam, Turkey, and Latin America.
The platform reports over 95 million total users, $200 million in trading volume on its memepad, $70 million in trading bot volume, and more than 340,000 tokens launched through Blum Memepad.
The full AMA session is available on Blum’s YouTube channel, with additional discussions planned ahead of the Token Generation Event.
