Fogo, an experimental Layer 1 blockchain built on the Solana Virtual Machine, has canceled its previously announced $20 million token presale ahead of its mainnet launch in January. Instead of selling 2% of the total FOGO supply, the project will distribute these tokens via an airdrop, citing a desire for broader and more meaningful distribution while keeping its focus on delivering the public mainnet.

The team also released updated tokenomics, revealing that nearly 39% of the supply will be unlocked at network launch, with 6.6% allocated to airdrops and the remainder split among the foundation, core contributors, institutional investors, advisors, and community stakeholders. Following the presale cancellation, Fogo burned an additional 2% of the genesis supply. Meanwhile, the Fogo Flames points program remains central to rewarding early testnet users and ecosystem participants, who will be able to redeem points for FOGO tokens after the mainnet goes live.