Platforms Fomo and Pump.fun are locked in an intense battle to attract the most active traders in Solana’s memecoin ecosystem. Fomo has recorded six consecutive weeks of record trading volume and crossed the 2 million dollar weekly revenue threshold, briefly overtaking Axiom in daily fees in early August. Pump.fun struck back on August 7 by launching a social trading feature, leveraging its fee-free model that appeals to high-frequency traders. The native $PUMP token surged 87% over the past thirty days, supported by a buyback mechanism funded by half of the protocol’s revenue. Unverified reports suggest Pump.fun offered up to 30,000 dollars per month to influential traders in exchange for exclusivity deals, a practice deemed generally legal but raising questions about conflict of interest management.
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