# Fomo

By [Union Square Ventures](https://blog.usv.com) · 2026-06-22

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For years, it has become increasingly clear that all assets are going to come onchain, and eventually all of finance too. It is why we have continually invested in open financial infrastructure focused on ushering in that future such as [Uniswap](https://app.uniswap.org/), [Morpho](https://morpho.org/), [Hyperliquid](https://hyperfoundation.org/), [Relay](https://relay.link/), and more.

In many ways, that future has arrived. Cheap public blockchains have unlocked an [explosion of asset creation](https://dune.com/nikhilraman/token-creation). Equities, commodities, and even pre-IPO assets – in derivative form – are now traded 24/7 onchain, in [serious volumes](https://www.coindesk.com/business/2026/03/20/iran-war-volatility-is-driving-oil-trading-boom-on-hyperliquid-says-jpmorgan). Prediction markets have emerged as a new category, with much of the volume coming from onchain capital. Onchain spot equities, options, and other forms of asset exposure are early but quickly arriving as well.

All assets existing on the same set of interoperable substrates unlocks the possibility of something profound: a truly universal financial interface. When we met the [fomo](https://fomo.family/) team a year ago, they might have looked to some like a Solana memecoin trading app, but it was clear that they were marching towards this larger vision and they have executed behind that. They went multichain in October, covered [all surfaces](https://fomo.family/blog/announcing-fomo-web/) in April, and launched [perpetual futures](https://fomo.family/blog/perpetuals-now-on-fomo/) this month, with much more to come.

This is not a new vision – in fact it is the same northstar almost every consumer financial app has – but the conditions have only recently emerged to allow products to actually realize that vision in full and do so with a truly seamless, buttery consumer experience. By playing for the onchain endstate, fomo has a great chance to speedrun this opportunity.

In our view, however, fomo is not just the best place to access any asset, but it is also an emergent social network. All positions and trades on the app are public (just as they are public onchain), which lets users follow each other’s positions. It has also become popular for users to attach a thesis to their transactions explaining why they entered a position. This transparent design has enabled fomo to quickly become a place where traders come to build reputation and status. Social investing has been tried unsuccessfully many times over the decades – we even backed a [very related product almost 20 years ago](https://www.usv.com/writing/2008/04/covestor/). A lot has changed since then and we believe that fomo has found the right form factor and timing to let this concept thrive.

[Paul](https://x.com/PaulErlanger), [Se](https://x.com/seyong), and [Prashan](https://x.com/qrazhan_ultd) have built an incredible product and team in New York. In just over a year of being live, the product has grown tremendously, reaching 625k total users and $4b+ in cumulative volume. We are very excited to announce our investment in the company’s Series B financing alongside our friends at Index and Benchmark. The team is hiring Staff+ level frontend engineers and a marketing lead.

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*Originally published on [Union Square Ventures](https://blog.usv.com/fomo)*