Fomo, a social trading application on Solana, generated $1.76 million in daily protocol revenue on Friday, Sept. 4, according to DefiLlama data, surpassing Pump.fun's $1.1 million for the same day.
Despite the daily peak, Pump.fun maintains a substantial lead over longer horizons. The memecoin launchpad recorded $57 million in revenue over 30 days, while Fomo generated $17.6 million in the same period, reflecting Pump.fun's sustained dominance in token deployments.
Fomo differentiates itself by combining spot trading with social features—users can observe and replicate trades of other participants through a social media-style feed. The application operates as a self-custodial, gasless token-swap platform native to Solana, compressing new-user onboarding to roughly 30 seconds. The gasless design reduces friction and cost barriers for frequent trading.
Fomo's revenue stems from spot trading fees and, more recently, perpetual futures. Pump.fun's revenue comes from launch and trading fees on new memecoins.
The platform reported that over 68,000 users made their initial cryptocurrency purchase on Fomo using Apple Pay, generating approximately $25 million in transaction volume. The integration demonstrates the effectiveness of traditional payment rails in lowering entry barriers for new participants.
Fomo launched perpetual futures contracts on June 11, powered by Hyperliquid, a Layer 1 blockchain for high-performance on-chain derivatives. The contracts are available to users outside the United States.
In June, Fomo closed a $75 million Series B round led by Index Ventures, valuing the platform at $550 million. By June 2, the company had distributed over $2 million in referral fees to incentivize user growth.
