Se Yong Park, co-founder of the social trading app Fomo, denied rumors that the company would launch a token creation platform on Solana or compete directly with Pump.fun. He said Fomo aims to build strong trading communities rather than add more tokens to an already saturated market. Launched in May 2025 by former members of the dYdX team, the app raised $75 million in a Series B round in June 2026, valuing it at approximately $550 million. Fomo has no token of its own and generates revenue from fees of roughly 0.5% on spot trades. Its planned expansion to other platforms, alongside Pump.fun’s cross-chain push, is expected to intensify competition between the two apps.
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