[Fogo Cancels $20 Million Token Presale, Switches to Community Airdrop] Odaily Planet Daily reports, according to The Block, the L1 blockchain project Fogo has canceled its planned $20 million token presale (accounting for 2% of total supply). The FOGO tokens originally allocated for the presale will now be distributed via a community airdrop, and the 2% of tokens previously allocated to core contributors have been burned. According to the tokenomics model, 38.98% of the tokens will be unlocked on January 13 when the network launches, including immediately tradable airdrop shares, tokens for foundation operations, and core contributor shares that will be unlocked in phases. The token allocation includes approximately one-third for the foundation, 34% for core contributors (locked for four years), 8.77% for institutional investors, 7% for advisors, and 11.25% for the community.