Fogo: A group of Wall Street wolves created a "membership-based hunting ground" in Web3
Last week, I had drinks with a friend who is a market maker; he pulled out his phone to show me a screenshot.
It's a chat record between him and a trader:
"That Meme coin, I grabbed it in 3 seconds using an algorithm, and once I was in, it was the peak."
"On-chain delay?"
"No, it was another guy who grabbed it with Fogo; I hadn't even placed my order before he finished smashing it."
My friend sighed: "I've been playing in Crypto for four years, and for the first time, I feel like I've been 'dimensionality reduced.'"
This sentence left me stunned for a long time.
We always say that blockchain is a "decentralized fair arena." But is there a possibility that—true professionals actually don't want this "fairness"?