Fogo Cancels $20 Million Token Pre-Sale, Plans Airdrop for Mainnet Launch

Fogo will airdrop tokens instead of holding a $20 million pre-sale, with nearly 39% of supply unlocking for stakeholders at the January 13 mainnet launch.

CORE

Summary

Fogo has canceled its planned $20 million token pre-sale, opting to distribute the tokens via a community airdrop. The project confirmed that 38.98% of the total supply will unlock at network launch on January 13, covering allocations for the foundation, core contributors, investors, and community members. This move signals a shift toward broader community participation ahead of the mainnet debut.

Terms & Concepts
  • Mainnet: The fully developed and operational version of a blockchain network where actual transactions occur and assets hold real value.
  • Airdrop: A distribution of cryptocurrency tokens for free, often used to promote awareness or reward users ahead of a project launch.
  • Token Pre-Sale: An early-stage sale of cryptocurrency tokens to raise funds before the public launch, typically at discounted rates.