Fomo, a social trading application built on Solana, recorded higher 24-hour revenue than Hyperliquid, according to data from DefiLlama. The milestone is notable given that Fomo only launched perpetual futures trading in June 2026, while Hyperliquid had already crossed $1 billion in cumulative revenue by midyear.

The development does not mean Fomo has overtaken Hyperliquid in overall scale. Hyperliquid has posted single-day revenues as high as $6.84 million during peak periods and regularly generates daily figures in the millions. However, Fomo's ability to briefly match or exceed that output — with recent 24-hour revenue fluctuating between $150,000 and $400,000 and peaking near $399,000 — signals where DeFi user attention is increasingly flowing. Revenue comparisons of this kind have become a common shorthand in DeFi for gauging where real user activity — as opposed to token-incentivized volume — is concentrated.

How a Social Trading App Competes with a Perpetuals Giant

Fomo is a self-custodial, gasless token swap application integrated with a social layer that includes feeds, leaderboards, and copy trading. The platform derives most of its revenue from transaction fees on Solana token swaps. The combination of social features with on-chain trading reflects a broader trend in which DeFi applications are layering engagement mechanics — such as leaderboards and copy trading — directly into trading interfaces, a model popularized by centralized social trading platforms but increasingly replicated on-chain.

In June 2026, Fomo introduced perpetual futures trading through partnerships with Hyperliquid and Trade.xyz. These integrations enable non-U.S. users to trade cryptocurrencies, equities, pre-IPO stocks, indices, and commodities without leaving the app.

The perpetuals integration accounts for a relatively modest portion of total revenue. Builder fees from Hyperliquid futures represented approximately $39,000 out of a recent $2.64 million weekly total. The primary revenue driver remains Solana token swaps, fueled by transaction demand from a growing user base.

Fomo's weekly revenue reached an all-time high of $2.64 million for the week ending August 8, 2026. That figure placed the platform alongside established Solana ecosystem participants such as Jupiter and Phantom, both of which Fomo has occasionally surpassed in weekly revenue during the summer.

Key Metrics

Fomo closed a $75 million Series B funding round in June 2026, achieving a $550 million valuation. The platform has no native governance token and no inflationary tokenomics model supporting its revenue figures. Revenue is generated directly from user trading activity. That detail is significant because many DeFi protocols rely on token emissions or liquidity mining incentives to sustain engagement; Fomo's revenue is derived from organic trading fees, which makes its revenue figures less vulnerable to changes in token incentive design.

By June 2026, Fomo had attracted more than 625,000 users and reported cumulative trading volumes exceeding $4 billion. For comparison, Hyperliquid crossed $1 billion in cumulative revenue by June 30, 2026, and its daily revenues regularly exceed $3 million.

For Hyperliquid, this dynamic creates an unusual relationship: Fomo is simultaneously a competitor in revenue rankings and a customer that routes order flow through Hyperliquid's infrastructure. This type of layered dependency — where one protocol both competes with and contributes volume to another — is becoming more common as DeFi applications increasingly compose on top of shared infrastructure rather than building every component independently.