App season continues: Birdeye debuts on mobile
The data aggregator launched its mobile app as it looks to scale up operations
mykhailo pavlenko/Shutterstock modified by Blockworks
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Continuing a recent trend of Solana projects marching into mobile, the trading data aggregation platform Birdeye has launched a mobile version, the team told Lightspeed exclusively.
The app — which supports Solana, Sui, and EVM chains — will let users track trades, price swings, and trending tokens. There’s also a swap interface provided by Jupiter, which requires users to trade tokens on a browser pop-up in its first iteration. Swaps will only be available on Android initially, as Apple requires transactions to happen in-app (presumably so it can take its famous 30% cut).
Gaining traction on the app could help Birdeye grow its revenue from swap fees as well as scale up its paid subscription service.
In a world where tens of thousands of new Solana tokens are being launched daily, data aggregation platforms like Birdeye have found some product market fit. DEX Screener is another popular memecoin-integrated data platform with a mobile app.
Lan Boi Vu, marketing manager at Birdeye, told me the app is different from DEX Screener’s because Birdeye was built “from scratch” rather than as a downsized version of the website.
Interestingly, Boi Vu said the built-in notification system — which pushes alerts about large price movements or trades from specific wallets — was likely the app’s most important feature.
Birdeye brings in some revenue from PRO, a souped-up version of its data platform starting at $30 per month. Boi Vu declined to disclose how many subscribers the service has.
Birdeye also sells expedited updates for token information like logos and social media links. (DEX Screener offers a version of this paid update service as well.) Plus, it charges an estimated “0.3% or 0.4%” combined fee on swaps made through Jupiter and 1inch, Boi Vu said. This doesn’t account for network congestion.
Birdeye also has a data services branch that counts DeFi outfits, including Jupiter, as customers. That part of the company is “very lucrative,” Boi Vu said.
It’s the latest mobile app to join the app store. Jupiter, Cube Exchange, and DRiP are other Solana projects who either just released or are gearing up to release apps.
Boi Vu pointed out that multiple apps coming to market around the same time could make “not just […] Solana, but the entire Web3 community a lot more interconnected.”
Updated Dec. 4, 2024 at 7:30 pm ET: Clarified details regarding swap fees and removed the erroneous claim that Uniswap is a Birdeye Data Services customer.
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