The DeFi space has always been stuck between the dilemma of the trade-off between decentralization and speed. The current generation of decentralized exchanges are often associated with high slippage and poor user experience due to high latency while centralized exchanges provide near-instant execution but at the expense of true financial freedom. Fogo is here to completely change the status quo, it is a next generation Layer 1 that is specifically engineered for on-chain trading with the use of the battle-tested Solana Virtual Machine architecture, powered by the brand-new, state of the art Firedancer client.
This technology not only allows for blazing fast block times of 40ms but near-instant finality of 1.3 seconds, essentially bringing the speed of institutional HFT to the web3 world. If you have ever been annoyed by constant wallet signature pop-ups to approve of each individual micro-transaction or liquidity management trade, Fogo has your back. Through a one-time signature, you create a time-limited session key that allows for secure automated trading, this is literally an upgrade from 90s Dial-up to fiber-optic internet for your crypto wallet!
This natively integrated vertically-integrated ecosystem runs on the $FOGO token. This is not a shitcoin and rather the bloodline of the network. The FOGO token is used to pay the ridiculously low network gas fees, to incentivize stakers which contribute to the top tier security of the network, to provide community governance of the network and a lot more. Most importantly, with native price oracles and an enshrined DEX, this layer 1 actively counteracts MEV, allowing retail traders fair on-chain execution.
Whether you're a seasoned daily scalper, a new yield farmer or an average DeFi degens who's tired of transactions failing at peak moments; this is a L1 that you will want to keep your eyes on as the day of the trade-off ends.