Vector's Rise and FOMO's Outperformance: A Tale of Two Social Trading Apps
The founders of Vector and FOMO share a common starting point in building mobile social trading apps for on-chain assets. Vector was born out of Tensor, a Solana NFT trading platform that reached an 80% market share with billions of dollars in trading volume.
In 2024, the Vector team launched their app, which quickly went viral within the Crypto Twitter community, reaching $20 million in daily trading volume by late January. User retention was also astonishing, with 7-day retention between 60-70% and 30-day retention around 40-50%. The founders believed that social signals and trade execution should be integrated into the same product, shortening the path from signal to execution.
FOMO took a similar idea but pushed it in a different direction, achieving outstanding execution. They successfully broke out of the CT circle, attracted new users into the on-chain world, and surpassed $100 million in daily trading volume.