Something interesting happened on Solana’s revenue leaderboard. FOMO, a social trading app that barely existed a few weeks ago, flipped both Jupiter and Phantom in 24-hour earnings, according to DefiLlama data. For context, Jupiter is arguably Solana’s most dominant DEX aggregator, and Phantom is the wallet almost every Solana user has installed.
FOMO’s 24-hour revenue has been oscillating between roughly $152K and $225K. Phantom’s equivalent figure ran from around $219K to $235K, while Jupiter’s ranged from approximately $112K to $203K. The windows overlap, which means the flip is not a clean, permanent victory.
What FOMO actually does
FOMO blends copy-trading with social engagement, essentially letting users follow other traders and mirror their positions without needing to understand every underlying mechanic.
The app also offers gasless cross-chain swaps, which removes one of the most consistent friction points in DeFi.
Revenue does not come entirely from Solana activity, either. FOMO earns builder fees from Hyperliquid perpetuals, which diversifies its income base and reduces dependence on any single chain’s activity levels.
The app raised $75 million in a Series B funding round in June 2026.
Why apps keep beating the chain itself
In May 2026, Solana applications collectively generated approximately $94 million in revenue, while the chain itself earned around $18.6 million. The apps sitting on top of Solana made roughly five times more money than Solana’s base layer did from the same activity.
FOMO reaching the number seven position among all Solana protocols within a few weeks of launching fits this pattern.
What this means for traders and investors watching the space
Jupiter’s core product is aggregation, finding users the best swap route across Solana’s liquidity. Phantom is a wallet, which means it captures fees on swaps routed through its interface. Both are exposed to competition from any product that offers a better or more engaging user experience on top of the same underlying liquidity.
FOMO’s revenue numbers suggest its copy-trading and social feed value proposition is connecting with real users. Revenue in DeFi is hard to fake at scale because it comes directly from user activity, not token emissions or artificially inflated metrics. When a protocol generates $150K to $225K in genuine 24-hour fees, that reflects a meaningful volume of actual transactions.
FOMO’s $75 million Series B gives it significant runway to keep building features and acquiring users alongside a revenue model that already works.