PANews reported on December 13th that, according to The Block, the L1 blockchain project Fogo has cancelled its planned $20 million token pre-sale (representingPANews reported on December 13th that, according to The Block, the L1 blockchain project Fogo has cancelled its planned $20 million token pre-sale (representing
Fogo cancels $20 million token presale, opting instead for community airdrop.
PANews reported on December 13th that, according to The Block, the L1 blockchain project Fogo has cancelled its planned $20 million token pre-sale (representing 2% of the total supply). Instead, the FOGO tokens intended for the pre-sale will be airdropped to the community, and the 2% of tokens originally allocated to core contributors will be burned. According to the token economics model, 38.98% of the tokens will be unlocked when the network launches on January 13th. This includes immediately tradable airdrop shares, tokens for foundation operations, and core contributor shares unlocked in installments. The token allocation is approximately 1/3 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.
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