Fomo overtakes Pump.fun with $1.76M daily revenue on Solana

A Solana-based social trading app has dethroned the network's dominant memecoin launchpad in daily revenue, marking a notable shift in the platform's competitive order.

Fomo pulled in $1.76 million on Friday, surpassing Pump.fun's $1.1 million haul, according to DefiLlama's protocol revenue tracker. Yet the incumbent retains a commanding lead over the trailing 30 days, generating more than $57 million compared with $17.6 million for Fomo.

Fomo blends crypto trading with social features resembling a social media feed, letting users view and follow other traders' positions. The platform closed a $75 million Series B round in June led by Index Ventures, valuing the app at $550 million. More than 68,000 users made their first crypto purchase on the platform using Apple Pay, accounting for about $25 million in transaction volume.

The revenue flip reflects intensifying competition in Solana's launchpad sector, where fee structures and user acquisition increasingly determine daily revenue rankings. Fomo expanded beyond spot trading in June, launching perpetual futures contracts powered by Hyperliquid for users outside the US, and has paid users more than $2 million in referral fees since early June.

Pump.fun, which pioneered the memecoin launchpad model on Solana, has faced growing competition from social trading platforms and newer entrants. Its 30-day revenue of $57 million still dwarfs Fomo's $17.6 million, suggesting the single-day flip may not yet represent a durable shift in market share.

Fomo's growth has been driven by its social features, which allow users to see what others are trading and follow successful traders. The platform's Apple Pay integration has lowered the barrier to entry for retail users, while its referral program has incentivized user acquisition. The company said more than 68,000 users made their first cryptocurrency purchase on the platform using Apple Pay, a channel that has proven effective at converting non-crypto-native consumers.

The competitive dynamics on Solana's launchpad sector could have broader implications for the network's fee economics. As more platforms compete for memecoin launch volume, fee wars could compress margins across the sector while boosting overall Solana network activity. Traders will be watching whether Fomo can sustain its revenue momentum over the coming weeks or whether Pump.fun's 30-day dominance reasserts itself as new token launches cycle through the ecosystem.

This article is for informational purposes only and does not constitute investment advice.