Fomo’s trading activity has shifted sharply toward Robinhood Chain, where the app captured about 35.6% of trading-terminal volume on Aug. 31, according to a Dune dashboard. Together with GMGN’s 43.6% share, the two applications handled roughly 79.2% of the network’s tracked terminal volume that day, placing Fomo among the main consumer-facing gateways for activity on the chain.
The change is especially visible in Fomo’s own volume distribution. Robinhood Chain represented about 75% of the platform’s daily trading volume on Aug. 31, according to the latest interval shown in the company’s chart. Solana, previously the app’s central market, accounted for about 20%, while BNB Chain represented 3.4% and Base about 1%.
That mix suggests Fomo’s recent growth is increasingly tied to its ability to move users between networks rather than relying primarily on Solana token trading. The company is now trying to support that expansion with an acquisition of Mobula’s data software and a set of social trading features designed to turn referrals and shared trade ideas into repeat activity.
User activity rose from thousands to more than 100,000 daily traders
Fomo said its user base exceeded 1.9 million by Aug. 31, up from an earlier disclosed total of more than 120,000 users. The company reported that more than 1.2 million users were active during August and that daily new-user additions had moved above 30,000.
Daily active traders climbed alongside those totals. Fomo’s data showed activity running at only a few thousand traders a day between March and May. The count remained below 10,000 in early June before accelerating through the summer, reaching between 80,000 and more than 100,000 traders on many days by late August.
The pace of trading also increased. Fomo reported $500 million in monthly volume for June and $1.5 billion in July, a threefold increase. It projected August volume above $2.8 billion, which would represent growth of at least 87% from July if achieved.
Fomo estimated August revenue at about $17 million, equating that figure with an annualized run rate above $200 million. The company had previously reported $850 million in cumulative trading volume when it disclosed more than 120,000 users and about 35,000 traders, illustrating how much of its reported activity has arrived in recent months.
Referral fees and social tools are built into the growth model
Fomo has linked its user acquisition strategy to referral rewards, Trader Rewards and Clans, features that give trading activity a social and competitive layer.
Under referral terms published on June 2, users who bring a new trader to the app through a referral code receive 25% of the trading fees generated by that new account. Fomo said total referral fees paid through the program had exceeded $2 million.
The structure gives active users an incentive to recruit traders who continue using the platform rather than simply sign up. It also means the cost of acquisition rises and falls with fee-generating activity, rather than depending solely on fixed promotional payments.
Fomo introduced Trader Rewards on Aug. 28 as a separate program aimed at users who publish trade theses that prompt others to enter trades. The company said rewards are delivered in real time, although it did not publish a payout formula, reward rate or the precise range of qualifying transactions.
Clans add a team identity to user profiles. A trader can join one clan at a time, with some groups using invitations for entry. The feature extends the app’s social design beyond public trading calls and referrals, potentially making community affiliation part of how users discover traders and market narratives.
Social features can increase engagement, but they also place more emphasis on public trade signals in markets where token liquidity and prices can move quickly. Fomo’s model depends on turning that engagement into fee-paying volume while giving users enough information to distinguish trade ideas from reliable analysis.
Perpetuals and web trading widen the product range
Fomo has expanded beyond its original mobile-focused format with a web platform and perpetual futures trading.
The company said its web product accounted for about 25% of total platform volume in data released in late August. That share indicates a meaningful portion of trading is moving beyond mobile discovery and quick token swaps, particularly as users access more complex tools.
In June, Fomo launched Fomo Perps, a perpetuals product supported by Hyperliquid and TradeXYZ. The offering includes contracts tied to crypto assets, stocks, pre-IPO companies, stock indices and commodities. Traders can take long or short positions and use leverage, isolated margin, take-profit orders and stop-loss orders.
Perpetual contracts introduce trading opportunities beyond spot token markets, but they also expose users to liquidation risk when leveraged positions move against them. Their arrival gives Fomo another possible source of trading fees while broadening the types of markets available in the app.
Mobula acquisition brings market-data infrastructure in house
On Aug. 31, Fomo said it had acquired Mobula’s proprietary software and intellectual property, bringing a market-data infrastructure provider into the company as activity expands across Robinhood Chain, Solana and BNB Chain.
Axios reported that Fomo Chief Executive Officer Paul Erlanger valued the transaction at $17 million. Fomo’s own announcement did not disclose a price.
Mobula founder Sacha Marcus, co-founder and Chief Technology Officer Sacha Delhoux, and infrastructure lead Cyril Conan are expected to join Fomo’s engineering team. Delhoux was 19 when the transaction closed.
The acquisition addresses a practical challenge for multi-chain trading applications: token markets require systems that can map contract addresses and metadata while tracking trades, liquidity, prices, holders and wallet activity across separate networks. Building those capabilities internally could give Fomo tighter control over how assets are indexed and displayed as its network coverage grows.
Paul Erlanger, Chief Executive Officer of Fomo, said the acquisition would give the company greater control over core systems while it scales. Sacha Marcus, Mobula’s founder, said integrating the technology directly into Fomo’s consumer app would improve the speed and reliability of market data available to users.
Fomo’s next test will be whether its growing Robinhood Chain presence can produce durable activity rather than a short-lived migration of speculative volume. Its August figures show substantial momentum, while the company’s product expansion and data acquisition indicate it is preparing for a trading business that operates across multiple chains and increasingly serves users through social discovery, derivatives and web-based execution.
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