**Fogo (FOGO)** is the native cryptocurrency token of **Fogo**, a high-performance **Layer 1 blockchain** built using the **Solana Virtual Machine (SVM)**. It's specifically designed and optimized for ultra-low latency decentralized trading and on-chain financial applications, aiming to deliver a trading experience closer to centralized exchanges while remaining fully decentralized.
Key highlights about Fogo and its token:
- **Purpose-built for speed** — The chain targets extremely fast block times (as low as ~40 milliseconds) and near-instant finality, using a custom high-performance implementation based on **Firedancer** (a validator client originally developed for Solana), along with innovations like multi-local consensus (validators grouped geographically for minimal latency). This makes it potentially much faster than networks like Solana or Sui in certain metrics, especially for real-time trading.
- **Trading-focused features** — It includes a vertically integrated stack with a curated validator set, native price feeds, an enshrined (built-in) DEX, colocated liquidity providers, and gas-free session capabilities to reduce friction for high-frequency and professional traders.
- **Mainnet launch** — The public mainnet went live in mid-January 2026, following a strategic token sale (including on Binance) that raised around $7 million.
- **Current market stats** (as of late February 2026):
- Price: Around **$0.025–$0.026** USD
- 24h trading volume: Typically $10–15 million+
- Market cap: Roughly **$95–100 million**
- Circulating supply: ~3.78 billion FOGO
- Total supply: 10 billion (fixed, no dynamic minting)
- It's listed on major exchanges like Binance (FOGO/USDT pair) and ranks in the top 300 by market cap.
The project was founded by people with backgrounds in traditional finance (ex-traders from firms like Citadel), so the focus is heavily on bringing institutional-grade performance to on-chain finance rather than being a general-purpose chain or a meme coin.