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Fogo Cancels $20 Million Token Presale, Switches to Community Airdrop
According to sources from Ha Shi Chain, the L1 blockchain project Fogo's planned $20 million token presale (accounting for 2% of the total supply) has been canceled. The tokens will be used for community airdrops, and the original 2% tokens allocated to core contributors will be burned. According to the token economic model, 38.98% of the tokens will be unlocked when the network launches on January 13, including the immediately tradable airdrop quota, tokens for foundation operations, and phased unlocks for core contributors. Token distribution includes approximately one-third for the foundation, 34% for core contributors (locked for four years), 8.77% for institutional investors, 7% for advisors, and 11.25% for the community.
#Cryptocurrency #Blockchain #CryptoNews #TokenSale #L1Blockchain