December 6, SVM Layer1 blockchain project Fogo announced the launch of the Ecosystem Points Program 1.5 and the mainnet performance testing project Fogo Fishing. Fogo Fishing simulates high-frequency trading and throughput on-chain to test the mainnet. The event will last for about two weeks, during which several random snapshots will be taken. Fogo will airdrop users participating in fishing activities on Fogo Fishing and LP activities on Valiant Pools. The current TPS of the Fogo Fishing project has exceeded 1000.Previously reported, on January 25, 2025, SVM L1 Fogo completed an $8 million financing with a token valuation of $100 million on the investment platform Echo, with The Echonomist leading the round. Other participants include 4 CMS Holdings, Big Brain Collective, and Patrons. In December 2024, Fogo completed a $5.5 million seed round financing, with Distributed Global leading with $5 million. Fogo's co-founder is former Jump Crypto executive Robert Sagurton.