Fogo raised approximately $7 million in total. The sale price is fixed at $0.035 per FOGO (denominated in BNB).

Author: 1912212.eth, Foresight News

On January 12th, Fogo Public Chain launched its token sale via Binance Wallet's Pre-TGE Prime Sale, as the project moves from the testing phase to mainnet and TGE. As the third Pre-TGE Prime Sale project on Binance,

Binance Prime Sale is a pre-TGE token sale mechanism launched by Binance Wallet. Fogo sold 200 million FOGO tokens, accounting for 2% of the total supply!,(MISSING) denominated in BNB, raising approximately $7 million in total. The sale price is fixed at $0.035 per FOGO (based on the current BNB exchange rate), with a sale FDV of $350 million.

Previously, on January 10th, Binance announced the launch of FOGO pre-listing perpetual contracts. As of press time, the token is quoted at 0.056 USDT with an FDV of $560 million. Based on the current FDV estimate, the profit margin of this Binance Pre-TGE Prime Sale is approximately 60%! ((MISSING) return rate).

Currently, Polymarket data shows that the market's bet on Fogo token's FDV exceeding $300 million on the day after its launch has risen to 93%!.(MISSING)

The subscription period for this project (Beijing time) is from 16:00 to 18:00 on January 13th. Holding Binance Alpha Points is mandatory; the specific threshold has not yet been announced. According to Binance's usual practice, the official announcement will be made a few hours before the event starts. If not announced, the start will most likely be delayed. Each Binance Wallet user can submit a maximum of 6 BNB. Binance distributes tokens according to the proportion of user submissions; if the total subscription is oversubscribed, it will be scaled down proportionally.

Compared to other Prime Sale projects (such as the first two), Fogo's sale focuses more on community access, canceling the early presale and instead using Alpha Points to screen active users.

Historical data shows that the average oversubscription rate of the first two Prime Sales reached 150%!,(MISSING) leading to a 20% reduction in actual allocation. Currently, both Binance and Bybit have announced the launch of FOGO spot trading.

High-Performance L1

Fogo is a high-performance SVM Layer 1 public chain whose core goal is to achieve a "real-time experience," optimized for trading, DeFi, and social payments rather than general-purpose computing. Unlike Solana's distributed architecture, Fogo adopts a centralized optimization strategy to ensure low latency and high throughput. According to its official introduction, its block time is 40ms, far lower than Solana's 400ms, supporting high-frequency transactions such as perpetual contracts (perps) and arbitrage. Fogo focuses more on performance benchmarking and has proven a 1.3-second confirmation rate on the testnet.

Doug Colkitt

The two founders of the Fogo team have deep industry backgrounds. Co-founder Doug Colkitt is also the founder of Ambient Finance, with a strong background in quantitative trading. In his early years, he worked as a quantitative researcher at Citadel Securities, focusing on high-frequency trading and arbitrage strategies. The other co-founder, Robert Sagurton, previously served as an executive at Jump Crypto and worked at institutions such as JPMorgan, Morgan Stanley, and R3, focusing on banking and exchange systems.

Robert Sagurton

In December 2024, Fogo completed a $5.5 million seed round led by Distributed Global. In January 2025, Fogo completed another $8 million community round led by Echo (affiliated with Cobie) at a valuation of $100 million.

Total Supply of 10 Billion Tokens, Community Allocation Accounts for 16.68%!

Fogo's token is FOFO, which has two main utilities: first, as transaction gas fees; second, to participate in staking rewards—token holders and validators receive native rewards by securing the network.

On January 13th, Fogo updated its tokenomics, with a total supply of 10 billion tokens.

Among them, the total community allocation accounts for 16.68%!,(MISSING) including Echo fundraising, Binance priority purchase, and airdrop activities, all categorized under community ownership. Previously, Fogo completed two rounds of fundraising on the Echo platform: the first round raised $8 million at an FDV of $100 million, and the second round raised $1.25 million at an FDV of $200 million, with approximately 3,200 participants. Tokens from the Echo fundraising share (8.68%!)(MISSING) are fully locked at TGE. Starting from September 26, 2025, the Echo share will unlock over 4 years with a 12-month lock-up period. Tokens from the Binance priority purchase share (2%!)(MISSING) are fully unlocked. Tokens from the community airdrop share (6%!)(MISSING) are fully unlocked. 6%! of the genesis supply is allocated to airdrop activities.

• Allocation share on January 15th (1.5%!)(MISSING): At mainnet launch, 1.5%! of the share will be allocated to reward early community members and initial network participants. The future reward share (4.5%!)(MISSING) is reserved for ongoing promotion activities.

• Institutional investor share (12.06%!)(MISSING): All tokens are locked. The institutional investor share will start unlocking from September 26, 2026.

• Core contributor share (34%!)(MISSING): Core contributors hold 34%! of the supply. All tokens are locked. Starting from September 26, 2025, the core contributor share will unlock over 4 years with a 12-month lock-up period.

• Foundation share (21.76%!)(MISSING): This allocation is used to fund grants, incentives, and ecosystem projects. All these tokens are unlocked.

• Advisor share (7%!)(MISSING): All tokens are locked. Starting from September 26, 2025, the advisor share will unlock over 4 years with a 12-month lock-up period. This is to reward strategic support and ongoing contributions.

• Listing liquidity share (6.5%!)(MISSING) (formerly named "Airdrop and Listing"): All tokens are unlocked to support liquidity provided by third parties at listing.

• Burned share (2%!)(MISSING): The number of tokens burned so far.