Fomo, the social trading platform built on Solana, overtook Pump.fun in daily revenue on Friday. According to DefiLlama data, Fomo generated $1.76 million in revenue that day. Pump.fun recorded $1.1 million.
The one-day result is interesting, but it might not mean much alone. Pump.fun still leads over longer windows. Over the past month, the memecoin launchpad generated more than $57 million in revenue. Fomo reported $17.6 million during the same period.
What Fomo brings to crypto trading
Fomo combines trading with a social feed. Users can see trades made by other people on the platform. It feels less like a standard exchange and more like a social network where price action is the content.
That setup may appeal to a different crowd. Some traders want signals from others before they act. The interface makes that easy. Fomo also says it has lowered the barrier for first-time buyers. More than 68,000 users made their first crypto purchase through Apple Pay on the platform, according to the company. That group accounted for close to $25 million in transaction volume.
Fresh capital and derivatives
Fomo has been expanding with serious backing. In June, the company closed a $75 million Series B round led by Index Ventures. That round valued the social trading app at $550 million.
The product range is growing as well. Fomo started with spot trading, but it now offers perpetual futures. On June 11, it launched perps powered by Hyperliquid for users outside the US. That move could add a new stream of revenue and attract more active traders.
Incentives and sustainability
The company has also used referral payments to grow. On June 2, Fomo said it had paid users more than $2 million in referral fees. That is not a small number for an app at this stage. It shows how much Fomo is willing to spend to keep growing.
The key question is sustainability. Daily revenue rankings can be noisy. A single session of heavy trading can push one platform above another for a day or two. Pump.fun had a stronger long-term track record, and its monthly numbers remain much larger.
So Friday’s headline was real, but context matters. Fomo is growing quickly and showing that social trading can compete for attention and fees. Whether it can stay above Pump.fun more often will depend on user retention and whether those referral programs keep paying off. The Solana revenue race is not over yet.
