What is the FOMO app?

The company, in four dates

FOMO is roughly a year old, which is the fact that matters most when you are deciding whether to fund an account. Here is the whole history, with the numbers the company disclosed at each step:

The founders are Paul Erlanger, Se Yong Park and Prashan Dharmasena, all of whom worked at the derivatives exchange dYdX. Benchmark led the Series A — a firm that rarely invests in crypto at all, which is part of why the round drew coverage.

What the product actually does

Three things, and the third is the one that makes it different from every other trading app.

It removes the wallet. Your account uses a non-custodial wallet powered by Privy. There is no seed phrase to write down or lose — recovery runs through your email or Apple ID login. You hold your own funds, but you never handle the infrastructure. Swaps across Solana, Base and BNB Chain are gasless, so no separate token for fees and no bridging step.

It removes the on-ramp. Apple Pay and card funding go straight into a trade. For most people this is the step that used to take three days and two accounts.

It adds a feed. A live stream of what other traders are buying and selling, with leaderboards ranked on realised profit and one-tap copy trading. This is the actual product. The trading engine is table stakes; the social layer is what FOMO sells, and it is why the company reported 110 million social interactions in its first year.

How FOMO makes money

A trading fee, and you can work out the size of the business from public numbers. FOMO charges 0.50% per trade with a $0.95 minimum on Solana, and does not pass on network gas. At the time of the Series A it was processing $20–40 million per day and reporting roughly $150,000 per day in revenue.

$150,000 ÷ $30,000,000 = 0.50% — the company's own revenue divided by its own volume lands exactly on the reported fee.

That is a straightforward business: take half a percent of everything that moves, and make the moving as easy as possible. It also explains the referral programme — FOMO shares part of that 0.50% with whoever brought you in, which is why every FOMO code you will find offers 10% off.

What it is not

• Not a place to hold savings. It is a memecoin trading app with a feed engineered to make you trade. That is a design goal, not a criticism, but it is the opposite of a custody product.
• Not a regulated broker. FOMO publishes no licensing detail, no insurance and no proof-of-reserves — the last of which is largely moot for a non-custodial app, since there are no customer reserves to attest to.
• Not a terminal. No limit orders, no wallet-tracking bots, no priority-fee tuning. If you want those, GMGN and Axiom are the comparisons to read.

Who it actually suits

Someone who wants exposure to small-cap tokens, trades in blocks of $200 or more, understands that most memecoins go to zero, and would rather have a phone app than a browser terminal. The $200 threshold is not arbitrary — below roughly $190 the minimum fee dominates and a $20 trade costs 4.75%.

Someone it does not suit: anyone whose decisions would be changed by watching other people's wins scroll past. The feed works. That is the risk.

Next: our full review with a score, the fee breakdown, the setup walkthrough, or the safety question in full. If you already have an account, the affiliate programme page covers the other side of the code.