fomo

fomo

Image: official site logo (fomo.family)
type	Mobile and web trading app (self custodial)
launched	May 6, 2025 (public beta)
founders	Paul Erlanger, Se Yong Park (Seyong)
company	FOMO Labs, New York
chains	Solana, Base, BNB Chain, Monad; perps via Hyperliquid
fees	0.5 percent per swap, 0.95 dollar minimum on Solana
funding	17 million dollar Series A (Benchmark, 2025); 75 million dollar Series B (Index Ventures, 2026)
website	fomo.family

fomo (fomo.family) is a mobile first, social crypto trading app founded by dYdX veterans Paul Erlanger and Se Yong Park, launched in May 2025, that lets users trade meme coins across Solana and other chains from a single gasless USD balance.

fomo (styled lowercase, at fomo.family) is a consumer crypto trading app that combines a social feed with one tap token trading. Built mobile first with a companion web platform, it is pitched as "the only social first trading app" and lets users buy and sell meme coins and other tokens across multiple blockchains from a single USD balance, with no gas fees, bridging or seed phrases exposed to the user. Launched into the Solana meme coin boom, it became one of the fastest growing consumer products in the trenches during 2026, competing with terminals such as Axiom, Photon and GMGN while courting a more mainstream audience than any of them.

History

fomo was founded by Paul Erlanger (CEO) and Se Yong Park (Seyong), who met as Deutsche Bank interns and later both worked at the derivatives exchange dYdX; some profiles also list dYdX engineer Prashan Dharmasena among the founding team. The app opened its public beta on May 6, 2025 to an initial cohort of about 1,000 users, backed by 2 million dollars in early funding from a network of roughly 140 angel investors including Solana cofounder Raj Gokal, Polygon Labs CEO Marc Boiron and Balaji Srinivasan.

In November 2025 Benchmark led a 17 million dollar Series A, a rare crypto bet for the firm, with partner Chetan Puttagunta joining the board. By then fomo had onboarded more than 120,000 users and was clearing 20 to 40 million dollars in daily volume. On June 22, 2026 the company closed a 75 million dollar Series B led by Index Ventures at a 550 million dollar valuation, with Union Square Ventures and angels including Mark Pincus and Kevin Hartz participating, while onboarding around 3,500 new users per day with a team of only 17 people.

Product

fomo is self custodial: users sign up with an Apple ID or similar login in about 30 seconds, fund with Apple Pay, and trade from one balance that works across Solana, Base, BNB Chain and Monad. Social features include a feed of trades, leaderboards, follower graphs, copy trading and real time alerts on what top traders are buying. In June 2026 it added perpetual futures for users outside the United States, routing execution through Hyperliquid. The site claims about 500,000 active traders.

Fees and revenue

fomo charges roughly 0.5 percent per trade, with a 0.95 dollar minimum on Solana and no minimum on Base and BNB Chain, absorbing gas costs. Revenue grew from about 150,000 dollars weekly in late 2025 to an all time high of 1.57 million dollars for the week ending July 27, 2026, per DeFiLlama, almost all from self custodial Solana swaps. That week fomo ranked third among Solana protocols by revenue, behind only pump.fun and Phantom CASH and ahead of Jupiter, and first among trading apps globally across all chains, overtaking GMGN.

Token

As of mid 2026 fomo has no token and no official points program, and its revenue includes no token emissions or incentives. Airdrop trackers speculate about a future retrodrop, but the team has announced nothing; a referral program pays inviters a share of referred fees and gives invitees a 10 percent discount. The rate on record has changed: a third party review cited 25 percent, while fomo's own published terms, checked on August 30, 2026, state 30 percent of the net trading fees generated by referred users.

References

1. techcrunch.com: https://techcrunch.com/2025/11/06/why-benchmark-made-a-rare-crypto-bet-on-trading-app-fomo-with-17m-series-a
2. The Block: https://www.theblock.co/post/405563/crypto-trading-app-fomo-raises-75-million-at-550-million-valuation-in-index-ventures-led-series-b-report
3. Yahoo Finance: https://finance.yahoo.com/news/fomo-debuts-groundbreaking-social-crypto-160000884.html
4. SolanaCompass: https://solanacompass.com/news/fomo-social-trading-app-hits-157m-weekly-revenue-all-time-high-on-solana
5. fomo.family: https://fomo.family/
6. coinlaunch.space: https://coinlaunch.space/events-contests/fomo-family-retrodrop/
7. airdrops.io: https://airdrops.io/fomo/
8. Medium: https://medium.com/@gemQueenx/fomo-app-solana-memecoin-trading-app-review-and-referral-code-e9e766fce316
9. Substack: https://insights4vc.substack.com/p/fomo-behind-the-75m-series-b-from
10. quicknode.com: https://www.quicknode.com/builders-guide/tools/fomo-by-fomo-labs