Fomo could help you track KOL moves

The upcoming SocialFi app offers crypto trading and tracks what others are buying and selling

article-image

Billion Photos/Shutterstock modified by Blockworks

share


This is a segment from The Drop newsletter. To read full editions, subscribe.


Wondering what your fave crypto influencer is buying and selling? Fomo could help paint that picture — at least a little bit.

“The name Fomo for us is very subversive,” Fomo co-founder Paul Erlanger tells me.

Fomo is an upcoming SocialFi and crypto trading app (Kaito’s CEO is an investor). It tracks what signed-up users are doing with their assets. It’ll have a lot of “attention-based assets,” as Erlanger puts it, but it’s not just for memecoins. 

“We’re not a memecoin-trading app. The goal is to be something a lot larger,” he said.

Fomo is planning a real-time feed showing data on users’ trades, tokens, what they’ve been holding or selling over time, and more. If you choose to look at a token, you’ll see which of your “friends” are holding that token and how much.

They’re going to pull from internal data as well as broader financial data so that you’re well-aware of broader happenings too, like federal interest rates or other relevant pieces that could help inform your next sell or buy. 

Wallets on Fomo are non-custodial, meaning you hold the keys to your own crypto. While some builders believe that custodying others’ crypto is easier for newcomers, many crypto believers — myself included — see non-custodial wallets as an integral, critical part of the crypto ethos and experience.

“I think the non-custodial experience will win, and that’s kind of our advantage to Robinhood,” Erlanger said. 

Fomo won’t be able to identify external or additional wallets at first, so they’ll only be able to track what people are doing via Fomo itself. That means Fomo users could be posturing as buying or selling a token from their Fomo profile, but could be doing the opposite on a secret wallet — so take the data you can see with a couple grains of salt.

But the team is considering a way to provide even more data, like tracking wallets and tying them to various users so you can get a fuller picture of what people are doing.  

The Fomo team is planning to launch its beta in three weeks, the founders tell me. They’re planning to test it first with up to 10,000 users. In about six to eight weeks from now, we could see a full public launch.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template (10).png

Research

Innovations on Aptos’ technical design through Raptr, Shardines, and Zaptos approach near-optimal latency and throughput by unlocking 100% utilization of network resources, with the capacity to settle 260k transactions per second with latencies less than 800ms. The original Move language was revamped with the launch of Move 2, supporting more expressivity in smart contract logic and a scalable ability to interact with high volume datasets. The ecosystem has benefitted from strong asset inflows, now hosting over $1.3B in stablecoins, $450M in bridged BTC, and $530M in RWAs. Activity in the Aptos ecosystem has grown notably over the past year, with monthly application revenue reaching ~$835k and monthly DEX volumes growing to over $5B, both at new all time highs.

article-image

Interchain Labs will focus on sovereign L1s and institutional demand, abandoning plans for smart contracts on the Cosmos Hub

article-image

Also, only three tokens have outperformed bitcoin so far this year: XMR, HYPE and SKY

article-image

The fund group has submitted proposals in recent months for other funds that would hold litecoin, solana, XRP, HBAR, Sui and others

article-image

Momentum’s back — BTC leads, risk assets follow

article-image

Ondo Finance’s acquisition of blockchain development company Strangelove follows its buy of Oasis Pro

article-image

Cryptocurrency and stock traders alike had a lot to unpack Wednesday