Last year, Blum, a telegram mini app with 42 million users per month, announced airdrop standards and snapshot dates after more than a year of development.
The project has moved from a tap-to-allene model to a trade model, gradually placing itself as a distributed exchange (DEX). However, available data suggests that Blum has not yet attracted important trading activities amid increasing competition between DEX platforms.
Blum reveals airdrop conditions and snapshot schedules
In its latest announcement, the team said the snapshot would occur on June 7th. This snapshot records user balance and activity to determine airdrop eligibility. The distribution is expected to continue soon.
Blum also outlined three conditions for Airdrop eligibility. Participants must meet at least one of the following:
You own over 100,000 Blum Points (BPs), accumulate at least 750 meme points (MPs), provide proof of active engagement, refer to at least two users, and pass the Sybil check (make sure it’s not a bot or a duplicate account).
These criteria triggered mixed reactions within the Blum community. Some users are happy to be qualified, while others have expressed their dissatisfaction with the strict requirements.
For example, one user from X posted a screenshot showing that he was not qualified despite a 67-day login. Another user who calls the Meme Points requirement “very unfair” especially for long-time supporters of the project.
These responses highlight Blum’s challenges in balancing fairness and anti-sy measures to prevent abuse.
Blum shares the Snapshot date and Airdrop rules, but still does not disclose the talkload. This lack of details makes it difficult for users to estimate the potential value of the airdrop.
The announcement of Blum’s Airdrop and Snapshot came just after a shocking development. This is the arrest of co-founder Vladimir Smerkis over fraud-related accusations.
“We understand the community’s expectations regarding token launches. Despite the recent challenges since Vladimir Smarquis’ departure, we are extremely confident in Blum’s proposition and its ability to provide outstanding value and returns,” the project states.
Meanwhile, Blum’s daily trading volume plunged sharply in 2025. According to Dune analysis, Blum.io’s daily trading volume fell from over $700,000 in February to around $6,000 in June.
This sharp drop has seriously undermined Blum’s ability to compete in Dex space. This is a major recession for a project that once attracted tens of millions of users, riding on the hype from tap to Eilan.
Previously, Blum raised $5 million in a funding round led by Gumi Cryptos Capital, and received participation from other major venture companies such as Spartan, No Limit Holdings, Yzi Labs and OKX Ventures.
At the time of writing, Blum’s pre-market token price remains at around $0.0015, down 90% from its early peak. This reflects ongoing investor skepticism, putting the project in a precarious position.
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