Fomo fee debate intensifies as Solana trading volume reaches $283.53 million weekly

Fomo's rapid growth is drawing closer attention to what traders pay on the platform. It has averaged more than 40,000 daily active traders so far in August, with Solana driving most activity, including $283.53 million in weekly volume last week, the highest among chains tracked on Fomo. Lifetime volume has reached about $4.74 billion across 29.14 million trades, generating roughly $32.1 million in fees. The dispute centers on Fomo's pricing. Popular Solana community member fabiano.sol contrasted a 0.5% Fomo trading fee with 0% on Pump.fun and 0.1% on Jupiter for applicable trades, arguing that a trader depositing $1,000 and making 10 round-trip trades could lose $100 to fees alone. Fomo co-founder Se Yong Park pushed back, saying some transactions cost as little as $0.10 because Fomo covers gas, token rent and priority fees, and that blue-chip tokens can carry a 0.05% fee. Fomo's Terms of Service say the platform charges a minimum fee of 0.50% per transaction, subject to a minimum charge of $0.95, a structure that can raise the effective percentage on smaller trades. The dispute lands as Fomo and Pump.fun compete more directly for Solana traders. Weekend reports said Pump.fun offered some of Fomo's largest traders a $20,000 signing bonus and a $30,000 monthly salary to switch, though those figures remain unverified because Pump.fun has not confirmed or denied them. The broader contest now centers on whether traders prioritize lower fees, smoother execution, social trading features, or a simpler mobile-first experience.

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