Social Trading App FOMO Briefly Tops Jupiter and Phantom in Solana Daily Revenue

FOMO, a social trading app that completed a $75 million Series B in June 2026, posted enough fee volume on July 11–12 to rank seventh among all Solana protocols by 24-hour revenue, briefly drawing ahead of Jupiter JUP$0.323+4.5% and Phantom CASH$1.000+0.0% before the window shifted.

The milestone is real and notable; it is not a permanent re-ordering. DeFiLlama data for those two days placed FOMO's 24-hour revenue between $152,000 and $225,000, Jupiter's between $112,000 and $203,000, and Phantom's between $219,000 and $235,000. Because 24-hour windows are measured at different points in time, the rankings overlapped, with FOMO leading in some reads and falling behind in others. What the data establishes is that a several-weeks-old app generated daily fees in the same range as two of Solana's most established protocols.

How FOMO Earns Revenue on Solana

FOMO charges trading fees on every swap executed through the app. Three co-founders (Paul Erlanger, Se Yong Park, and Prashan Dharmasena, all former dYdX engineers) built it to make on-chain trading accessible without requiring users to manage wallets, bridges, or gas. An account can be funded via Apple Pay or Venmo and ready to trade within about 30 seconds.

The social mechanics are the differentiating layer. Users maintain public profiles displaying open and closed positions, and the platform shows a live trade feed from across the network. A copy-trading function lets users follow top performers and mirror positions.

FOMO initially launched on Solana and Base before adding BNB Chain and Monad. In June 2026, it introduced perpetual futures for users outside the United States, routing execution through Hyperliquid.

The $75M Series B Behind the Launch

Index Ventures led a $75 million Series B in June 2026 at a $550 million valuation, according to The Block and Fortune. Union Square Ventures co-invested alongside angel backers including Mark Pincus (Zynga co-founder), Humam Sakhnini (Discord CEO), and Kevin Hartz (Eventbrite co-founder), with Index citing a structural market shift in consumer blockchain trading as its investment rationale, per Fortune. The round brought total disclosed funding to roughly $94 million, following a $17 million Series A in late 2025 led by Benchmark, per The Block.

At the time of the announcement, the company had crossed 625,000 traders and $4 billion in trading volume, was onboarding around 3,500 new users daily, and employed 17 people, per Fortune. Raj Gokal, Solana's co-founder, participated as an angel investor in the seed round.

App Revenue vs. Chain Revenue on Solana

FOMO's entry into Solana's top-ten protocol list reflects a pattern visible in the network's revenue mix. In May 2026, Solana applications collectively generated around $94 million in fees compared to $18.6 million for the chain itself, a ratio of roughly five to one, per DeFiLlama. Wallets and DEX aggregators capture the largest portions of that app-layer revenue, which is why Jupiter and Phantom have featured prominently at the top of that chart.

The social trading category has not previously placed a significant protocol in that ranking. FOMO's appearance there, even in data that shifts day to day, makes it a category to watch in Solana's fee economy.