Trading in Public with FOMO gm Bankless Nation, today we're looking at FOMO, a social trading app making buying and selling tokens multiplayer, while simultaneously setting a new bar for what "consumer" crypto apps should feel like. Today's Issue ⬇️ - ☀️ Need to Know: EF Deposits to Morpho
And ETH leads overall developer growth. - 🗣️ Primer: Trading with FOMO
Follow, tail, and trade on mobile.
P.S. Thanks to Immunefi. Building the Security OS to unlock the next deca-trillion onchain — in partnership with the Immunefi Foundation. Sponsor: Frax — Fraxtal Ecosystem: Where DeFi Meets AI. . . . NEED TO KNOW EF Deposits into Morpho - 🏦 Ethereum Foundation Deposits $15M into Morpho. The EF deployed 2,400 ETH (~$9.6M) and $6M in stablecoins into Morpho vaults, continuing its shift toward onchain treasury management. Earlier deposits went to Aave, Compound, and Spark.
- 📊 Ethereum Ranks #1 for New Developer Growth in 2025. Electric Capital data analyzed by the EF shows Ethereum leading all ecosystems for new developer activity, with wide margins across 350K+ tracked repositories.
- 🪙 MegaETH Opens $MEGA ICO Registration on Cobie’s Sonar. Registration for MegaETH’s ICO is live on Sonar until Oct 27. The sale will use USDT on Ethereum with an English auction format and optional 1-year lockup discount.
📸 Daily Market Snapshot: Markets slipped today, with BTC and ETH flirting with $110K and $4K respectively. For alts, only ZEC and XMR showed strength. | Prices as of 2:30pm ET | 24hr | 7d |  | Crypto $3.87T | ↘ 1.9% | ↘ 9.0% |  | BTC $111,146 | ↘ 1.9% | ↘ 9.6% |  | ETH $4,000 | ↘ 3.0% | ↘ 10.9% | . . . REVIEW Trading in Public with FOMO Over the past year, there's been a steadily growing trend in app design to make trading onchain feel more like a team sport than a solitary, PvP experience. I talked about this at ETHcc earlier this year, highlighting how apps exploring this design space are seeing lasting success. FOMO is one not only of them, but the one arguably seeing the most success right now. After raising $2M from familiar industry and trading names like Raj Gokal (Solana’s cofounder) and Threadguy in February, the app has really hit its stride recently. It offers an easy-to-use and deeply social environment for trading tokens across Solana, Base, and as of today, BNB on mobile, across both iOS and Android. The foundation is solid: gasless transactions, seamless fiat onramps and token buys via one-click Apple Pay, Venmo, or direct debit card deposits, a familiar feed-style UX, approachable animations that feel almost plush, and no wallet management (unless you want to deposit from an existing wallet). These features make FOMO feel indistinguishable from an everyday consumer app. But what truly sets FOMO apart is its social network. On FOMO, every user has a simple, accessible profile displaying their balance — just like on blockchains, but far more readable. - Each token has a profile that shows who on FOMO holds it, whether they’re up or down on it, and what their thesis is (if they shared it).
- Each user has a profile showing their open positions and closed positions, creating full transparency around what people are actually holding.
Every account can be followed, letting users build networks of "friends" whose trades they can be notified about — either to tail or counter-trade. This social experience is constructed across the app’s five core tabs, each coming together to build FOMO’s network. The Home screen serves as your primary dashboard, displaying market trends, featured assets, and ongoing trades. From there, you can jump to the Friends and Leaderboard section, which shows top performers and lets you follow traders you respect — rankings update dynamically based on returns, so you always know who's actually performing. The Feed aggregates a real-time stream of trade updates across all of FOMO, not just your friends, offering another avenue for discovery and functioning as the app's social layer. There's also a Referrals tab that provides a personal link, offering those who sign up with your link 10% off fees, while also letting you earn 25% of their trading fees, paid out in USDC. Finally, your Profile displays your wallet balance, open and closed positions, available cash (your USDC on hand) and allows followers to opt in for notifications on your trades. It even lets people send you USDC if they’re feeling generous. What I Like About FOMOI've started using the app much more in recent weeks. It's become incredibly helpful for discovering quality traders — and by extension, quality tokens. Beyond that, it's useful for gauging how consensus or contrarian a particular token is, especially as FOMO itself has grown more popular. This notoriety has also helped it serve as a pretty reliable signal for identifying market trends before they hit Twitter in full force. I also appreciate that everything is denominated in USDC rather than SOL or ETH. It makes managing your account balance feel cleaner and more "real" — you're not constantly converting between assets in your head. Where There's Room for ImprovementThe app is still early, and there are a few areas that could benefit from refinement. Latency is noticeable, particularly on Base. Transactions tend to take a couple more seconds than they would on high-speed Telegram trading bots. It's not a dealbreaker, but it's enough to notice when markets are moving fast and you're trading minute to minute. The feed could also use some filtering options. Right now, it's hard to find a clear use for it beyond occasional discovery. It would help to filter the feed by your direct network rather than seeing activity from the entire platform. That way, if you've missed a string of push notifications, you could easily catch up on whether a group of friends took coordinated positions rather than relying on individual alerts. The Bigger PictureOverall, as a consumer experience, FOMO goes a long way. It's a strong example of what happens when crypto apps embrace the social layer that's always been implicit in trading — making it explicit, accessible, and mobile-first. As I argued at ETHcc, this shift from solo trading to multiplayer trading is where crypto apps finally start to feel native and intuitive rather than clunky and isolated. Whether you're active onchain or just curious, FOMO is worth trying — if only to see what a well-executed crypto app actually looks like. It sets a benchmark for the features and polish we should expect when making crypto-native activity feel as accessible as any other online experience. FRIEND & SPONSOR: FRAX The Fraxtal ecosystem is expanding at lightning speed—this month’s biggest highlight is IQAI.com, the newest Agent Tokenization platform from IQ and Frax. IQ is building autonomous, intelligent, tokenized agents launching on Fraxtal in Q1. Empower on-chain agents with built-in wallets, tokenized ownership, and decentralized governance—all within a fast-growing Fraxtal ecosystem. . . . | 
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