Fomo Adds Solana Token Trading Route to X Cashtags

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The addition expands X’s partner-based trading model. Under the workflow X published in September, users tap a supported cashtag—a dollar-sign asset ticker—to view its price chart and related posts, select “Trade,” and then continue to a partner’s app or website to log in or sign up and complete the transaction.

X’s September launch in the U.S. included Coinbase, Kraken and Gemini, The Defiant reported. In an earlier Canadian pilot, Wealthsimple routed users from cashtags to a pre-filled trading screen at the brokerage.

Fomo’s wallet documentation describes a non-custodial app that creates a wallet for each account, with private keys secured through the user’s Google Account or Apple ID login. Fomo says it does not hold users’ tokens on their behalf.

Fomo’s terms of service name Privy as a wallet infrastructure provider and describe Fomo as an interface for submitting transaction instructions to independent decentralized exchanges and blockchain infrastructure. According to the terms, Fomo does not operate those venues or guarantee execution or settlement.

The cashtag announcement did not specify eligible countries or X devices. Fomo’s general availability guide says the app is offered in most countries, subject to exclusions in its terms. Its trading rules also permit token-level restrictions and say trades may fail if no route is available or be refused when price impact is very high.

Fomo’s Solana fees vary by route and trade size. Its published schedule lists a 0.50% rate for trades of at least 190 $USDC on its lowest-fee route, and 0.50% with a 0.95 $USDC minimum on other routes. Some major tokens have a reduced 0.05% rate, with minimum fees on smaller trades. Fomo says it covers Solana gas, priority fees and token-account rent rather than charging for them separately.

Source: thedefiant.io. Adapted by NBTC.