The momentum of FOMO is indeed quite strong.

1/ Trading contracts are blossoming in two areas.

In the past week, FOMO generated $10.67 million in fees, ranking first in the DefiLlama Trading Apps section.

Axiom, ranked second, had $6.6 million in fees during the same period.

FOMO's perpetual contract business is also rapidly gaining traction.

In the past 24 hours, FOMO Perps' trading volume reached $57.5 million, ranking third in the DefiLlama Interface Protocols section, only behind top projects such as tradeXYZ.

The key point is that FOMO's perpetual contract function was officially launched only in June this year.

FOMO has already proven that it not only has users and traffic but can also quickly migrate these users and traffic to new trading scenarios and financial products.

If FOMO continues to expand into areas such as prediction markets and structured products in the future, it wouldn't be surprising at all.

2/ Pressure is on Axiom and GMGN.

Faced with a rising star like FOMO, Axiom and GMGN's most immediate responses in the short term probably only have two options.

First, functional follow-up.

This means emulating and launching similar services to minimize the gap in the product matrix.

Second, issuing tokens.

By utilizing airdrop expectations, point systems, and incentive mechanisms, they can enhance user stickiness and slow down the migration of funds and users to competitors.

However, for products like Axiom and GMGN that already have strong cash flow, issuing tokens is not an essential means of financing for survival. On the contrary, tokens resemble a strategic play.

If played well, it can rapidly amplify growth; if played poorly, it may dilute an originally healthy business model and lead the platform into a more costly competitive incentive landscape.

long FOMO - https://fomo.family/r/iamyourchaos

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