MERAJ Nezami

New SVM Layer 1 blockchain project Fogo raised $8 million in “under two hours” on Thursday via Cobie’s Echo platform at a $100 million token valuation, co-founder Robert Sagurton told The Block.
Last month, Fogo raised $5.5 million in a seed round at the same valuation, which is also being disclosed today, Sagurton said. Fogo Foundation, the core contributor to the Fogo Chain — a new Solana Virtual Machine (SVM)-based Layer 1 blockchain — raised $8 million via Echo, the angel investor platform founded by popular crypto trader Jordan Fish, better known as Cobie.
Fogo raised the amount in "just under 2 hours" late Thursday, co-founder Robert Sagurton, a former Jump Crypto executive, told The Block.
A total of four Echo groups participated in the round: The Echonomist, led by Cobie, which invested $6 million; 4 Ventures by CMS Holdings, which invested $1 million; Big Brain Collective, led by The Block CEO Larry Cermak, which invested $500,000; and Patrons, led by Synthetix and Infinex founder Kain Warwick, which also invested $500,000, Sagurton said.
The Echo round was structured as a simple agreement for future tokens (SAFT) and conducted at a $100 million fully diluted token valuation — the same structure and valuation as the $5.5 million seed round last month, which is being disclosed today, Sagurton said. The seed round was led by Distributed Global, which invested $5 million, with participation from CMS Holdings, which contributed $500,000, Sagurton added.
With the Echo round, Fogo now has over 3,000 angel investors on its cap table. Cobie told The Block that Fogo is an "interesting" project and described the round as a unique deal on his platform.
"Fogo is interesting because the community, via Echo, actually owns more % supply of Fogo than VCs do. That hasn't happened before in a deal led by me at least. But it is a nice trend to be observing. Decentralized, community systems require a more user-owned fundraising model and I am happy that the Echo experiment is playing a small part, said Cobie. Have a nice weekend, he added, before throwing in some unsolicited advice on TV shows.
@Fogo Official #fogo $FOGO

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Most people miss it because they focus on price action and TPS charts.
What it changes for builders and users is the confidence of knowing when a transaction is truly done.
I have traded through enough volatile sessions to understand how fragile “confirmation” can feel. A transaction shows as successful, but you still wait, watching the next few blocks, just in case. When building small on-chain tools, I noticed I was writing extra checks and delays only because I did not fully trust the base layer. That kind of friction shapes how I evaluate a network like Fogo.
The core problem is not speed. It is uncertainty. On many chains, finality is probabilistic. Blocks can be reorganized, fees can spike without warning, and inclusion timing can shift depending on network congestion. For a trader, this creates slippage and liquidation risk. For a developer, it means adding buffer logic, retry loops, and safety margins that make applications heavier and more expensive. Infrastructure uncertainty quietly becomes application complexity.
It is like settling a cash trade where the receipt can still be revoked a few minutes later.
Fogo’s approach centers on tightening the link between block production and final confirmation. Instead of chasing extreme throughput, the protocol focuse on bounded finality. Validator stake token to participate in consensus and must collectively approve each proposed block. Once a defined supermajority signs off, the block is consider final within a predictable window. Reversing it would require coordinated validator misconduct rather than normal network fluctuations.
The state model advances in a linear manner. Each finalized block updates a single canonical state root. Transaction are checked against the current state, executed deterministically, and included in a block proposal. Other validators verify those state transition before voting. When the voting threshold is reached, state root is locked. Applications can then treat balances and contract storage as stable without waiting for multiple extra confirmations. This reduces the need for defensive design at the app layer.
The incentive structure is straightforward. Validators bond FOGO tokens as stake. Honest participation earn a share of transaction fees. Misbehavior, such as signing conflicting block exposes stake to slashing. Delegator can assign stake to validators and share in reward, which spread economic participation. The token also has governance weight, allowing holders to vote on parameters like validator limits or fee adjustments. Beyond fees, staking, and governance, it does not promise anything magical.
What it guarantees is economic finality under an honest majority assumption. What it does not guarantee is perfect uptime or immunity from validator concentration. If a large portion of stake goes offline, block production can slow. If governance power clusters, rule changes may reflect that imbalance. These are structural realities in most proof-of-stake systems.
From a risk-reward angle, the reward lies in predictability. If builders can rely on quick, durable finality, they can design simpler systems and reduce hidden costs. The risk lies in adoption and validator behavior over time. A well designed consensus layer still need real transaction demand to justify it existence.
The remaining uncertainty is how the validator set behaves during prolonged stress, especially when incentives outside the chain compete with on-chain penalties.
If your focus is infrastructure reliability rather than short-term price movement, does Fogo’s settlement model meaningfully improve your comfort level.
@Fogo Official #fogo $FOGO