GMGN vs Photon
Pick GMGN if you are multichain memecoin traders who want smart-money tracking and copy trading across a web terminal and Telegram bots. Pick Photon if you are solana traders already using Photon; verify current fees on the site before trading.
Checked 2026-10-16 · both venues' fee pagesGMGN
GMGN is a multichain memecoin terminal and Telegram bot suite with smart-money tracking, copy trading and sniping. It charges a flat 1% per trade.
Photon
Photon is a web trading terminal for Solana tokens. DefiLlama has tracked it since January 2024, with about $442M in lifetime revenue, though activity has fallen sharply since 2025.
Side by side
| GMGN | Photon | |
|---|---|---|
| Type | Trading terminal | Trading terminal |
| Status | live | live |
| Chains | Solana, Ethereum, Base, BNB Chain, Tron, Monad, Megaeth, Hyperliquid, Xlayer, Robinhood Chain, Arbitrum, Arc | Solana |
| Platforms | web, telegram | web |
| Custody | custodial | unverified |
| KYC | unknown | unknown |
| Platform fee, round trip | 2% | — |
| $1,000 round trip | $20.00 | — |
| Referral discount | — | — |
| Perps taker / maker | — | — |
| United States | Unverified | Unverified |
| United Kingdom | Unverified | Unverified |
| European Union | Unverified | Unverified |
| Launched | — | — |
| Reported incidents | 2 | 0 |
Features
| Feature | GMGN | Photon |
|---|---|---|
| copy trading | ✓ | — |
| sniping | ✓ | — |
| limit orders | ✓ | — |
| wallet tracker | ✓ | — |
| smart money alerts | ✓ | — |
| twitter monitor | ✓ | — |
| telegram bot | ✓ | — |
| anti-MEV | ✓ | — |
| multi-wallet | ✓ | — |
| token launch | ✓ | — |
| trading API | ✓ | — |
"—" means the feature was not in the sources we checked, not proof it's missing.
GMGN: watch out for
- Private keys for GMGN-generated wallets cannot be exported, per its docs.
- October 2025 phishing attacks drained over $700,000 from users, per SlowMist.
- Terms restrict publishing referral links on websites, blogs and social media.
Photon: watch out for
- Monthly revenue fell about 92% from Sep 2025 to Sep 2026, per DefiLlama.
- No fee schedule or referral terms could be verified from official sources.
- Solana only, per DefiLlama.
Buttons are DexSheet referral links: the venue may share part of your fees with us, and you often get a discount. Disclosure.
FAQ
Is GMGN better than Photon?
Pick GMGN if you are multichain memecoin traders who want smart-money tracking and copy trading across a web terminal and Telegram bots. Pick Photon if you are solana traders already using Photon; verify current fees on the site before trading.
Which is cheaper, GMGN or Photon?
We could not compare published fees for both.
Can I use GMGN or Photon in the US?
GMGN: unverified. Photon: unverified. Based on each venue's own terms.
Sources
Last checked . Fees and terms change often; the venue's own page wins if it disagrees with ours.
- GMGN Docs: GMGN Fees & Settings — checked 2026-10-16
- GMGN Docs: Cooperation-Referral, refer friends to earn rebate — checked 2026-10-16
- GMGN Docs: Referral Link — checked 2026-10-16
- GMGN Docs: TG Wallet import/export private key, deposit, withdraw — checked 2026-10-16
- GMGN Docs: Q&A — checked 2026-10-16
- GMGN Terms of Service (last updated 2024-12-06; read via Wayback snapshot 2026-09-07) — checked 2026-10-16
- Photon official site (blocked automated access) — checked 2026-10-16
- DefiLlama Photon revenue — checked 2026-10-16
- DefiLlama Photon fee adapter — checked 2026-10-16