Fogo raised approximately $7 million in total. The selling price was fixed at $0.035 per FOGO (in BNB).
Written by: 1912212.eth, Foresight News
On January 12th, the Fogo blockchain launched its token sale through Binance Wallet's Pre-TGE Prime Sale, marking the project's move from the testing phase to the mainnet and TGE. This is the third Pre-TGE Prime Sale project on Binance.
Binance Prime Sale is a pre-TGE token sale mechanism launched by Binance Wallet. The sale of Fogo tokens involved 200 million FOGO tokens, representing 2% of the total supply, denominated in BNB, raising approximately $7 million. The sale price was fixed at $0.035 per FOGO (based on the current BNB exchange rate), resulting in a total FDV of $350 million.
On January 10th, Binance announced the launch of its FOGO pre-market perpetual contract. As of press time, the token was priced at 0.056 USDT, with a FDV of $560 million. Based on the current FDV, the profit margin (yield) for this Binance Pre-TGE Prime Sale is approximately 60%.
Currently, Polymarket data shows that the probability of the market betting that Fogo tokens will have an FDV exceeding $300 million on the second day after their launch has risen to 93%.
The subscription period for this project is from 16:00 to 18:00 Beijing time on January 13th. Participants must hold Binance Alpha Points; the specific threshold has not yet been announced. Following Binance's usual practice, the official announcement is usually made several hours before the event starts. If no announcement is made, the start date will likely be delayed. Each Binance Wallet user can submit a maximum of 6 BNB. Binance will distribute the tokens proportionally based on user submissions; if the total subscription exceeds the limit, it will be reduced proportionally.
Compared to other Prime Sale programs (such as the previous two), Fogo's sale places greater emphasis on community access, eliminating early presale and instead using Alpha points to filter active users.
Historical data shows that the previous two Prime Sale events had an average oversubscription rate of 150%, resulting in a 20%-30% reduction in actual allocation. Currently, both Binance and Bybit have announced the listing of FOGO spot trading.
High-performance L1
Fogo is a high-performance SVM Layer 1 public blockchain with a core goal of achieving a "real-time experience," optimized for transactions, DeFi, and social payments, rather than general-purpose computing. Unlike Solana's distributed architecture, Fogo employs a centralized optimization strategy to ensure low latency and high throughput. According to its official introduction, its block time is 40ms, significantly lower than Solana's 400ms, supporting high-frequency trading such as perpetual contracts (perps) and arbitrage. Fogo focuses more on performance benchmarking, having already demonstrated a 1.3s confirmation rate on its testnet.
Doug Colkitt
The Fogo team's two founders have extensive industry backgrounds. Co-founder Doug Colkitt is also the founder of Ambient Finance, and he has a strong background in quantitative trading. He previously worked as a quantitative researcher at Citadel Securities, focusing on high-frequency trading and arbitrage strategies. The other co-founder, Robert Sagurton, previously held an executive position at Jump Crypto and has 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 of financing, led by Distributed Global. In January 2025, Fogo completed an $8 million community round of financing, led by Echo (related to Cobie), with a valuation of $100 million.
Total supply: 10 billion tokens, with 16.68% allocated to the community.
Fogo's token is FOFO, which has two main uses: first, as a transaction gas fee; and second, as a staking reward: token holders and validators earn native rewards by ensuring network security.
On January 13, Fogo updated its token economics, stating that its total supply is 10 billion tokens.
Of the total, 16.68% is allocated to the community, including Echo fundraising, Binance Priority Purchase, and airdrops, all of which fall under the community ownership category. Previously, Fogo completed two rounds of fundraising on the Echo platform: the first round raised $8 million with a $100 million FDV, and the second round raised $1.25 million with a $200 million FDV, with approximately 3,200 participants. The tokens from the Echo fundraising share (8.68%) were all locked at TGE. Starting September 26, 2025, the Echo share will unlock over four years, with a 12-month lock-up period. The tokens from the Binance Priority Purchase share (2%) were all unlocked. The tokens from the community airdrop share (6%) were all unlocked. 6% of the genesis supply was allocated to the airdrop event.
- January 15th Allocation (1.5%): Upon mainnet launch, 1.5% of the allocation will be distributed to reward early community members and initial network participants. Future reward allocation (4.5%) is reserved for ongoing promotional activities.
- Institutional Investor Share (12.06%): All tokens are locked. The institutional investor share will begin to unlock on September 26, 2026.
- Core Contributor Share (34%): 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 and has a 12-month lock-up period.
- Foundation Share (21.76%): This allocation is used to fund grants, incentives, and ecosystem projects. All of these tokens are unlocked.
- Advisory Share (7%): All tokens are locked. Starting from September 26, 2025, the Advisory Share will unlock over 4 years, with a 12-month lock-up period. This is used to reward strategic support and continuous contributions.
- Launch Liquidity Share (6.5%) (formerly known as "Airdrop & Launch"): All tokens are unlocked to support liquidity provided by third parties at launch.
- Burned Share (2%): The number of tokens burned to date.
