Fogo L1 project cancels $20 million pre-sale, token changed to community airdrop

【Chainwen】Fogo, a recent L1 blockchain project, has undergone a major adjustment—the originally planned $20 million token presale has been canceled. However, the project team did not waste these tokens; instead, they airdropped the presale shares directly to the community and also burned 2% of the tokens originally reserved for core contributors. This move shows genuine sincerity.

According to the latest token economic model, when the network launches on January 13, 38.98% of the tokens will be unlocked all at once. This includes the airdrop shares that can immediately circulate in the market, some for the foundation’s daily operations, and the phased release of core contributor shares.

Let’s take a look at the specific token distribution plan: approximately one-third for the foundation, 34% for core contributors (locked for four years), 8.77% for institutional investors, 7% for the advisory team, and 11.25% for the community. This distribution structure favors the foundation and core team, with a relatively smaller proportion for the community. However, from the decision to cancel the presale and switch to an airdrop, the project still aims to involve more people.