Key Takeaways:
FOMO, a social trading app on Solana, generated $225K in 24-hour revenue — enough to flip both Jupiter and Phantom on the protocol leaderboard.
FOMO, a social trading app that launched on Solana just weeks ago, climbed to seventh place among all Solana protocols by 24-hour revenue, surpassing both Jupiter and Phantom, according to DefiLlama data as of July 12.
"FOMO's copy-trading model is converting casual users into active fee generators faster than we've seen from any Solana consumer app this year," Jason Wu, an independent DeFi analyst, said.
FOMO's 24-hour revenue has oscillated between roughly $152,000 and $225,000 over the past week, DefiLlama data shows. Phantom's equivalent figure ranged from about $219,000 to $235,000, while Jupiter's ran from approximately $112,000 to $203,000. The ranges overlap, meaning the flip is not a permanent reordering, but the convergence itself signals a structural shift in where Solana users are spending.
The app blends copy-trading with social engagement, letting users mirror the positions of top traders without managing every trade themselves. It also offers gasless cross-chain swaps, removing one of the most persistent friction points in DeFi. Revenue does not come entirely from Solana activity — FOMO earns builder fees from Hyperliquid perpetuals, diversifying its income base beyond any single chain.
Why apps are beating the chain
In May 2026, Solana applications collectively generated approximately $94 million in revenue, while the chain itself earned around $18.6 million, according to DefiLlama. The apps sitting on top of Solana made roughly five times more than the base layer from the same activity. FOMO reaching the number seven position within weeks of launching fits this pattern.
Jupiter's core product is aggregation — finding users the best swap route across Solana's liquidity. Phantom is a wallet that captures fees on swaps routed through its interface. Both are exposed to competition from any product offering a more engaging user experience on top of the same underlying liquidity. FOMO's revenue numbers suggest its copy-trading and social feed value proposition is connecting with real users. Revenue in DeFi is hard to fake at scale because it comes directly from user activity, not token emissions or artificially inflated metrics.
FOMO raised $75 million in a Series B funding round in June 2026, giving it significant runway to keep building features and acquiring users alongside a revenue model that already works. For Jupiter and Phantom, the pressure is now on to either match FOMO's engagement or risk further erosion of their fee share on Solana.
This article is for informational purposes only and does not constitute investment advice.
