The next True Fandom Home will not appear until Discord or Twitter (or both) have a major purge. Discord skirted the edge of this with its "no 18+ servers on iOS" shift, but there are workarounds (...the servers are still available on desktop app/browser), so it avoided a mass migration.
However, either Discord or Twitter could, at any time, decide they have too much "adult" content, and take steps to forbid it or make it harder to access. Or they might "take a stand" against "piracy." And someone new to social media trends online (read: anyone who's only known one digital fandom home) might think "oh, they'll lose a few people, a few communities, but that won't affect everyone else - most people & most servers are vanilla-tame, so a no-explicit-content rule won't affect them."
That's not how it works. A "no explicit content" rule always means an attempt to purge queer content of any sort. (A man and a woman holding hands in a park, leaning in for a kiss, is not considered explicit. Two men doing the same, often is. It depends on which advertisers are footing the bills.) And a crackdown on "piracy" often means a purge of fanworks, because social media devs are not well-versed in copyright law, and besides, their goal isn't "allow all legal content." It's "reduce the chance that we get hit with a lawsuit" - and that's not based on whether the content is legal. If a company with big lawyers decides "fanworks are bad for our public image," they start throwing around C&Ds, and it's easier to ban the fanficcers and fanartists and vidders and so on, than to send someone to court to challenge the copyright claims.
The reason a migration hasn't already started is that there's no obvious next place to go. If you want to catch things early, start talking with your friends - what kind of site do you want for social media? Do you want everyone-sees-everything like Tumblr, or must-get-invited arrangements like Discord? Do you want reblogging like Twitter or threaded discussions like Dreamwidth? Forum-esque discussions like Proboards or BobaBoard, or chatroom-esque like Telegram? (Note that I'm not saying "like instagram" or "like Pinterest" - because I don't participate in those. But they're also options, I suppose.)
How important is image hosting to you - and are you willing to pay for it? How willing are you to give away personal data and privacy in order to get site features?
What kind of moderation are you hoping for? Note that moderation is expensive; the more strict the content control on a site, the fewer active users there can be. (Metafilter is pretty good for moderation - but they pay for 24/7 moderators. And almost everyone who's active is very aware of the mod presence on the site.) If your preference is "I don't want strict content control; just no trolls, no harassers, no nazis" - I have news for you: that's strict content control. Figuring out the difference between shitposting and bigotry requires active, constant moderation.
If you can find 25 friends who agree on the answers to all those questions, you may have the necessary foundation for a social site of your own; start looking for a dev/coder who can help you put it together.
(AO3 was started by a few dozen people who agreed on the features they wanted an archive to have. And the features and policies they didn't want it to have.)
If you can't find two dozen people who agree with you about what The Best Fannish Social Platform would be... welcome to the hordes who are stuck waiting for our current platforms to collapse and nervous about where we'll be going next.