FOMO Perpetuals Daily Volume Tops $170M, 4.5x Its Meme Token Volume

The gap between FOMO's derivatives volume and the fees it produces is the real story here: perpetuals are doing the heavy lifting on turnover while meme tokens, at a fraction of the volume, still carry the economics. That asymmetry suggests the perp flow is thin-margin and possibly incentive-driven, while memecoin activity remains the platform's actual revenue engine. For a venue leaning on Hyperliquid infrastructure and charging up to 0.05% per side, the open question is whether perp volume keeps scaling without fee contribution catching up — or whether the meme-token base stays the thing that pays the bills.