Fogo launches mainnet performance testing project and ecosystem points program

Foresight News reported that on December 6, SVM Layer1 blockchain project Fogo announced the launch of Ecosystem Points Program 1.5 and the mainnet performance testing project Fogo Fishing. By simulating high-frequency trading and throughput through on-chain fishing, the mainnet will be tested. The event will last for about two weeks, during which several random snapshots will be taken. Fogo will airdrop rewards to users who participate in fishing activities on Fogo Fishing and LP activities on Valiant Pools. The current TPS of the Fogo Fishing project has exceeded 1000.

According to previous Foresight News, on January 25, 2025, SVM L1 Fogo completed an $8 million fundraising round on the investment platform Echo at a token valuation of $100 million, led by The Echonomist, with participation from 4 CMS Holdings, Big Brain Collective, and Patrons. In December 2024, Fogo completed a $5.5 million seed round, with Distributed Global leading with $5 million. Fogo's co-founder is former Jump Crypto executive Robert Sagurton.