Fomo, a Solana-based social trading platform, generated $1.76 million in revenue on Friday, surpassing Pump.fun’s $1.10 million for the day, according to DefiLlama. The figure marked Fomo’s first single-day revenue lead over the meme coin launchpad.
The longer-term picture still favors Pump.fun by a wide margin. Over the past 30 days, Pump.fun brought in more than $57 million in revenue, while Fomo recorded $17.6 million.
Single-day lead shifts, but 30-day revenue still belongs to Pump.fun
The report says Fomo’s one-day reversal drew market attention, but it does not mean social trading platforms have displaced meme coin launchpads. On a 30-day basis, Pump.fun remains the clear leader.
- Pump.fun: more than $57 million
- Fomo: $17.6 million
Pump.fun’s business model is relatively straightforward. It charges fees on meme coin creation and trading, and its revenue has climbed alongside continued meme coin activity on Solana.
Fomo operates with a different structure, combining social trading, copy trading, and trading tools. Users can view other traders’ activity in a feed and decide whether to copy those trades or use them as a reference. Its revenue sources include trading fees, copy-trading revenue share, and API calls.
Fomo’s product push this year
The article links Fomo’s revenue jump to a series of expansions this year.
In June, Fomo completed a $75 million Series B led by Index Ventures at a $550 million valuation. The report says that capital translated directly into faster product iteration.
Several developments were highlighted:
- Apple Pay crypto purchases: More than 68,000 users bought cryptocurrency on Fomo via Apple Pay for the first time, generating about $25 million in volume.
- Perpetual futures launch: On June 11, Fomo partnered with Hyperliquid to offer perpetual futures to non-U.S. users, expanding from a spot-focused platform into a derivatives trading entry point.
- Referral rewards: Fomo said it has paid out more than $2 million in referral bonuses to users, using KOLs and early adopters to attract new users.
Social trading and meme coin launchpads rely on different revenue patterns
The article argues that Fomo’s daily revenue moving ahead of Pump.fun reflects differences in revenue volatility rather than a full replacement of one model by the other.
Pump.fun’s revenue is closely tied to sentiment in Solana’s meme coin market. When popular tokens multiply and trading stays active, revenue rises quickly; when activity cools, revenue falls. Its $57 million over the past 30 days shows that its base remains strong.
Fomo, by contrast, has a broader revenue mix spanning spot trading, perpetuals, and copy-trading revenue share. Apple Pay also lowers the barrier for fiat on-ramp. The report adds that social interaction and copy-trading features may help user stickiness, allowing the platform to earn a cut when users keep trading there.
As for Friday’s $1.76 million revenue figure, the original report says it was likely tied to a specific trading hotspot in the market and a surge in copy-trading volume, which it describes as a typical feature of social trading platforms.
What the market is watching next
The article lists three points to watch:
- Whether Fomo can continue narrowing the gap with Pump.fun on a 30-day basis
- How much revenue the Hyperliquid-linked perpetual futures product contributes
- Retention among users who entered through Apple Pay, since easy fiat access does not by itself guarantee continued trading