Blum CEO and Co-Founder Gleb Kostarev made his first public appearance since the departure of Vladimir Smerkis, speaking to more than 15,000 global participants during the platform’s recent AMA session on YouTube. Joined by fellow co-founders, Kostarev used the event to outline Blum’s sharpened strategy ahead of its upcoming Token Generation Event (TGE), unveiling new product innovations, updated token mechanics, and a renewed focus on the TON ecosystem.
Kostarev reaffirmed Blum’s commitment to making on-chain trading simple, native, and accessible to Telegram’s nearly 1 billion users, and addressed speculation surrounding leadership changes and bot activity on the platform.
“This is not just about launching a token - it’s about reshaping how people trade on-chain. We're not here for hype. We're here to build enduring tools, in the places people already are - starting with Telegram and TON,” said Gleb Kostarev, Co-Founder & CEO of Blum.
Key Announcements:
$BLUM Token Listing in June
Blum confirmed that the $BLUM token will be listed in June 2025, and the snapshot for distribution happened on 7 June. While discussions with centralised exchanges are ongoing, the immediate priority is to drive usage within Blum’s own ecosystem, including the Telegram mini-app and trading bot.
Cradle Airdrop Launch
Blum announced its new Cradle Airdrop model - a long-term, engagement-based distribution system that rewards active users and loyal participants, rather than relying on retroactive token farming.
“The Cradle Airdrop reflects our belief in gradual, earned participation – not hype farming. Users who engage with our tools will be rewarded in a fairer, more sustainable way,” said Vladimir Masliakov, Co-Founder & CTO.
Sybil Detection and Fair Appeals Process
To protect the integrity of the token launch, Blum has implemented a Sybil detection mechanism to identify inauthentic activity. Users who believe they were incorrectly flagged can submit appeals for manual review before the snapshot on June 7.
Focus on the TON Ecosystem
In light of Telegram’s evolving mini-app policies, Blum is concentrating its efforts on the TON blockchain. The platform is expanding its product suite to include:
- A trading bot used by over 700,000 traders with more than $50 million in volume
- A new Telegram-native trading terminal
- A TON launchpad for on-chain token trading
- Future staking, token buybacks, and burns to support long-term value
Token Utility and Long-Term Strategy
$BLUM will offer tangible utility from day one, including in-app fee discounts, staking benefits, and future airdrop eligibility. The tokenomics model includes buyback and burn mechanisms to align with long-term user incentives and prevent speculation-driven volatility. Blum is also exploring incorporating buyback and burn mechanisms to @BLUM token.
Leadership Transition
On the departure of co-founder Vladimir Smerkis, Kostarev said: “Vladimir stepped down due to a legal case in Russia. We respect his decision, appreciate his contributions, and continue to support his family. We remain focused on executing our roadmap.”
With momentum building in key markets such as Nigeria, Vietnam, Turkey, and Latin America - and more than 95 million total users, $200 million in memepad trading volume, $70 million in trading bot volume, and 340,000+ tokens launched from Blum Memepad - Blum is positioning itself as the trading layer of choice for the Telegram-native Web3 world.
The full AMA recording is available on Blum’s YouTube channel with further sessions planned in the lead-up to TGE.
