Fogo cancels $20 million token pre-sale and opts for a community airdrop

According to The Block, the L1 blockchain project Fogo originally planned a $20 million token presale (accounting for 2% of the total supply) but canceled it. The FOGO tokens intended for the presale will instead be airdropped to the community, and the 2% of tokens originally allocated to core contributors have been burned. According to the tokenomics model, 38.98% of the tokens will be unlocked at the network launch on January 13, which includes the airdrop portion that can be traded immediately, tokens for foundation operations, and the core contributors' portion that will be unlocked in phases. The token distribution includes approximately 1/3 for the foundation, 34% for core contributors (with a four-year lock-up), 8.77% for institutional investors, 7% for advisors, and 11.25% for the community.