Fogo is not selling a dream, it is providing a distribution plan. Instead of pursuing heavy pressure VC unlock, it created a community-centric "Flames" program and a broad airdrop of real testers, builders, and users, but retained the strategic sale small - approximately 2 per cent of the supply. In the case of a trading-first L1, that is important since incentives are vested in the operators, and not just in the speculators.

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