Blum Announces Airdrop Snapshot Date Amid Co-Founder’s Arrest and Platform Transition

Blum has set June 7 as the snapshot date for its upcoming airdrop, following its shift from a tap-to-earn model to a trade-to-earn platform. The project aims to establish itself as a decentralized exchange (DEX), though trading activity remains subdued in a competitive market.

The snapshot, scheduled for 00:00 UTC on June 7, will determine eligibility based on user balances and activity. Blum outlined three criteria for participation: owning over 100,000 Blum Points (BP), accumulating 750 Meme Points (MP), or referring at least two verified users. Community reactions are mixed, with some criticizing the stringent requirements.

Despite its ambitions, Blum faces challenges in gaining traction among established DEX platforms. The project’s pivot and airdrop strategy highlight its efforts to attract users and liquidity in a crowded ecosystem.