The social trading platform generated $1.76 million on Sept. 4, surpassing Pump.fun’s $1.1 million for the day, while the memecoin launchpad retained a substantial lead over the previous 30 days.

Social trading platform Fomo overtook Pump.fun in daily revenue on Solana, although the memecoin launchpad remained comfortably ahead when measured over a longer period.

Earlier coverage: Webull Expands Crypto Trading to Canada Through Coinbase Partnership

Fomo generated approximately $1.76 million in revenue on Friday, Sept. 4, compared with about $1.1 million for Pump.fun, according to DefiLlama data. The result placed Fomo ahead of one of Solana’s most prominent trading applications for the day.

The figures provide only a one-day snapshot and do not indicate that Fomo has surpassed Pump.fun on a sustained basis. Over the preceding 30 days, Pump.fun generated more than $57 million in revenue, while Fomo recorded approximately $17.6 million.

That means Pump.fun earned more than three times as much revenue as Fomo during the monthly period, despite falling behind its rival in Friday’s rankings. Daily protocol revenue can fluctuate significantly with trading activity, market sentiment and demand for particular tokens or services.

Social features meet onchain trading

Fomo combines cryptocurrency trading with features commonly associated with social media platforms. Its interface allows users to follow trading activity, view other participants’ portfolios and performance, and discover assets through a personalized social feed.

The product is designed to simplify access to onchain markets while placing trading and social interactions within the same application. Index Ventures, which invested in the company, has described the platform as fully onchain and said its social layer uses publicly available blockchain activity to display portfolio and performance information.

The company has reported rapid growth since launching. In June, Fomo said more than 625,000 people had joined the platform and completed over $4 billion in trading volume. It also reported more than 110 million social interactions.

According to the company, over 68,000 users made their first cryptocurrency purchase through Fomo using Apple Pay. Those purchases represented a combined transaction volume of approximately $25 million.

The figures are company-reported and have not been independently verified.

Fomo raised $75 million at $550 million valuation

Fomo announced a $75 million Series B funding round on June 22. The round was led by Index Ventures and valued the company at $550 million.

Union Square Ventures participated alongside existing investor Benchmark, which had previously led Fomo’s $17 million Series A round. Other reported participants included Zynga co-founder Mark Pincus, Discord CEO Humam Sakhnini and Eventbrite co-founder Kevin Hartz.

The financing came roughly a year after the platform’s launch and was intended to support its expansion into additional markets and products.

Platform expands beyond spot trading

Fomo has broadened its services beyond direct token trading. On June 11, the company introduced perpetual futures powered by Hyperliquid and Trade[XYZ].

The offering covers crypto assets as well as perpetual contracts linked to equities, pre-IPO companies, stock indices and commodities. Fomo said the service was launched for users outside the United States.

Perpetual futures are derivative contracts without a fixed expiration date. They allow traders to speculate on price movements without necessarily owning the underlying asset, often with leverage that can amplify both gains and losses.

Fomo has also used referral payments as part of its user-acquisition strategy. In a June 2 social media post, the company said it had distributed more than $2 million in referral fees to users.

Fomo’s latest daily revenue performance shows that the platform can compete with larger Solana applications during periods of elevated activity. Pump.fun’s considerably higher 30-day total, however, indicates that the memecoin launchpad continues to maintain the stronger revenue position over a broader timeframe.