SVM Layer1 blockchain Fogo completes $8 million financing, led by The Echonomist

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On January 25, according to TheBlock, the SVM Layer1 blockchain project Fogo has completed an $8 million financing, led by The Echonomist, with participation from 4 CMS Holdings, Big Brain Collective, and Patrons.

It is reported that the Fogo chain is a new type of Layer 1 blockchain based on the Solana Virtual Machine (SVM), and has completed a $5.5 million seed round financing last month, led by Distributed Global with $5 million.

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