FOGO CANCELS $20 MILLION PRE-SALE

Summary from the TLDR Crypto newsletter

Fogo cancelled its $20 million token pre-sale, originally planned for December 17, instead airdropping the 2% allocation to better distribute tokens and reward early users ahead of its mainnet launch on January 13, with 38.98% of supply unlocked. The Solana Virtual Machine-based Layer 1 adjusted tokenomics to give institutional investors, Distributed Global and CMS Holdings, 8.77% while burning an additional 2% from core contributors' genesis allocation, with the team taking a snapshot of testnet Fogo Fishers and Portal Bridge users for Fogo Flames points redeemable for tokens. Fogo is the first blockchain implementing Jump Crypto's Firedancer client.