Stock Track | Youdao Stock Soars on Blum Labs Partnership for DAO Token Airdrop

Stock Track

Oct 03, 2024

Shares of Chinese online education company Youdao Inc. (DAO) experienced a remarkable surge of 37.85% on October 2, 2024, driven by a strategic partnership between Blum Labs, a Telegram-integrated hybrid exchange platform, and XDAO, the company behind the TONxDAO platform.

The collaboration centers around a "Quest with $DAO Token Airdrop" event, which promises to airdrop 1% of TONxDAO's upcoming $DAO tokens to Blum users who participate by burning energy bars within the TONxDAO bot between October 2-6, 2024. This initiative aims to drive user engagement with TONxDAO, a platform that enables the creation of decentralized autonomous organizations (DAOs) and earning tokens within Telegram chats.

Investors appear to have reacted positively to this partnership, anticipating increased user adoption and growth opportunities for Youdao's DAO platform. The prospect of airdropping DAO tokens to Blum users has generated significant excitement, as reflected in the stock's substantial price surge.

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