1. Project Overview

Fogo@fogo is an SVM-compatible L1 public chain focused on institutional-grade high-frequency trading and real-time DeFi, utilizing an innovative Multi-Local consensus and Firedancer client, achieving a 40ms block time and 1.3s sub-second finality.

The project will launch its mainnet on November 25, 2025, having completed $13.5M in financing, with a valuation of $100M and a total supply of 10 billion FOGO tokens (with 0 in circulation).

Compared to mature L1s like Sol, Apt, and Sui, Fogo is still in the early stages but has differentiated advantages in ultra-low latency and vertical integration, with a relatively low current valuation.

Two, Funding and Team Background

1.Team background:

-Founder: Related to Ambient Finance (Founder Dougie DeLuca has participated in Pyth and Jump Crypto projects)

-Core members: From institutions like Jump Crypto, JPMorgan, Ambient Finance, and Pyth, with rich experience in DeFi and traditional finance.

-Foundation: Fogo Foundation independently manages ecosystem development, provides funding support and global promotion, and collaborates with Porterhouse Capital to launch an ecosystem fund supporting DEX, tools, and high-performance dApp development.

2.Funding background:

-Total funding amount: $13.5 million.

Seed round: $5.5 million (December 2024), with a valuation of $100 million FDV (fully diluted valuation), led by Distributed Global, with other investors including CMS Holdings.

Public sale: $8 million (January 2025, completed in 2 hours through Cobie's Echo platform), with a valuation of $100 million FDV.

-Investors: Distributed Global (lead investor), top VCs like CMS Holdings, showing strong institutional support.

The Fogo team has backgrounds from top financial institutions like Jump Crypto and Citadel, with a strong overall background. Currently, it is in an extremely early stage, with a valuation of $100 million significantly lower compared to APT and Sui.

Three, Technical Advantages (High-Performance Competitor)

As an SVM architecture L1 public chain, Fogo dares to challenge and demonstrate a 'stronger than competitors' technical advantage.

1.Comparative market share monopoly of Hyperliquid in DeFi

Fogo provides a superior on-chain experience through ultra-low latency (40ms blocks, target 10ms), zero gas transactions, and SVM ecosystem compatibility, reclaiming market share monopolized by Hyperliquid.

2.Comparative EVM technology threats from Monad and MegaETH

Fogo achieves <100ms block time and throughput of 25k–45k TPS through pure Firedancer clients, multi-region consensus, and curated validators under the SVM architecture, successfully enhancing SVM technology to face EVM technology threats.

3.Comparative shortcomings in on-chain trading scenarios compared to Solana

Fogo offers a more stable and high-performance composable on-chain trading environment by leveraging a complete ecosystem of partners (Pyth, Wormhole, Metaplex, Squads, Goldsky, etc.) and deploying high-performance nodes.


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