Fogo airdrop starts tomorrow, the key moment for this SVM L1 project has arrived

The Fogo project has entered a critical phase. According to the latest news, the airdrop query page went live today, and claiming will officially commence tomorrow (January 15). On the same day, the FOGO token will undergo TGE and be listed on exchanges such as Binance and OKX. However, the project has recently encountered some minor issues that require close attention.

Clear Timeline, Three Major Events Simultaneously

Fogo’s schedule tomorrow is indeed busy. Based on public information, three things will happen on January 15:

This approach is common in projects, but execution is quite challenging. From the Binance Prime Sale Pre-TGE on January 13 to tomorrow’s TGE and listing, the entire cycle is tightly compressed. Market rumors suggest that OKX’s pre-market price is around $0.056, corresponding to an FDV of approximately $560 million.

Token Distribution and Initial Unlocking

Understanding tokenomics is crucial for assessing project prospects. In Fogo’s distribution plan:

• Community allocation: 16.68% (including Echo funding, Binance Prime sale, airdrops)
• Institutional investors: 12.06%
• Core contributors: 34% (locked for four years)
• Foundation: 21.76%
• Advisors: 7%
• Liquidity: 6.5%
• Burned tokens: 2%

The key point is the initial unlocking situation. According to information, 38.98% of tokens will be unlocked at network launch on January 13, including immediately tradable airdrop shares, foundation tokens, and phased releases for core contributors. With a total supply of 2 billion tokens, this means approximately 780 million tokens will enter liquidity on TGE day.

From a liquidity perspective, the initial supply is relatively limited, but whether the price can be maintained depends on market demand.

Bug Discovered and Under Investigation

This is a recent concern. On January 14, Fogo’s official account announced that a bug was found causing the first season Flames EVM wallet allocations to display incorrectly. An investigation is underway, and the official advised users to check again after 24 hours.

In terms of transparency, the project has responded promptly—once the issue was identified, they announced it quickly without concealment. However, this also serves as a reminder for participants to double-check their eligibility and allocation before claiming the airdrop. If the issue persists after 24 hours, it is recommended to contact official channels directly for confirmation.

Market Expectations and Future Focus

Based on various discussions, there is still some market attention on Fogo. The 6 BNB cap (about $2,400) set for the Binance Prime Sale is not particularly low, but participation seems active. This indicates a basic level of community approval for the project.

However, it’s important to note that the rapid pace from initial offering to listing often attracts arbitrageurs. The price performance after TGE largely depends on the initial supply-demand balance.

Summary

The launch of the airdrop claim marks an important milestone for Fogo. The three major events tomorrow will test the project team’s execution capabilities. The bug issue has been identified and is being addressed, which shows the team’s attention to detail. Participants should focus on confirming their eligibility, rechecking for anomalies within 24 hours, and observing the initial market performance after TGE. Overall, this is a project worth following but one that requires cautious engagement.