Fogo launches ultra-fast mainnet after $7 million token sale.
- Mainnet Fogo bets on speed for on-chain trading
- The ecosystem begins with DeFi dapps and exchanges.
Fogo launched its public mainnet after completing a strategic token sale on Binance that raised approximately $7 million. The high-performance blockchain was built on the Solana architecture, using the Solana Virtual Machine (SVM), and focuses on financial applications that require near-instantaneous execution, such as trading protocols and decentralized exchanges.
FIRE is live.
Claim your tokens and experience the power of 40ms block times: pic.twitter.com/M5YmpXX1yZ
— Fire (@fire) January 15, 2026
Developed by former Wall Street executives, Fogo was designed to meet the demands of real-time trading. According to the team, the network aims to achieve block times of approximately 40 milliseconds, positioning itself as significantly faster than other blockchains focused on high throughput, including Solana and Sui. The technical proposition combines high performance, MEV mitigation, and accelerated finality.
"Fogo represents a fundamental reshaping of blockchain infrastructure for trading applications."
wrote the team.
“By combining SVM-level performance, innovative MEV mitigation, and ultra-fast finality, Fogo is positioned to become a preferred platform for decentralized exchanges, trading protocols, and financial applications that demand institutional-level performance.”
The mainnet launch also marked the conversion of points accumulated in the “Fogo Flames” program into FOGO tokens. According to the foundation, the asset is now immediately tradable on major centralized exchanges such as Binance, OKX, Bybit, Bitget, Gate.io, MEXC, LBANK, and Backpack, increasing the initial liquidity of the ecosystem.
Prior to this, the team had canceled a public pre-sale that aimed to raise $20 million with a fully diluted valuation of $1 billion. The decision led to a redistribution of the supply through airdrops and a strengthening of the points program. The recent strategic sale offered 2% of the FOGO supply, valued at $350 million, directing the proceeds toward funding the foundation.
In January 2025, Fogo also conducted a community-focused funding round through the Echo protocol, raising $8 million in less than two hours from over 3.000 angel investors. The company had previously raised $5,5 million in a seed round.
Performance data from the testnet, launched in July 2025, indicated leadership in transactions per second, peaking at 136.866 TPS. Approximately ten decentralized applications are operational on the mainnet, including the Valiant DEX, the Moonit launchpad, the Brasa liquid staking protocol, and the Pyron and Fogolend lending protocols.
“We designed Fogo to prioritize the user and meaningfully engage the builders and traders who have been with us since day one.”
"said Doug Colkitt, co-founder of Fogo and former researcher at Citadel Securities."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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