🔥@FogoChain launches Foundation - TGE? @FogoChain is an L1 SVM blockchain (similar to @solana) with a speed of 100k TPS. The focus is that the chain will concentrate on Perp trading, similar to @HyperliquidX. This L1 is relatively unknown as it has only raised 13.5 million dollars, with 5.5 million (valued at 100 million) from 2 VCs and an ICO of 8 million on @echodotxyz. However, being less known presents an opportunity. And since Layer 1 is only doing testnet, it doesn't cost money, just time. Notably, this team is quite impressive: - @RobertSagurton (co-founder): 8 years as vice president and nearly 2 years as CEO at JP Morgan, over 2 years as CEO at Morgan Stanley (specializing in FX), 5 years as head of business for @jump_. - @mdomcahill (CEO): Former vice president specializing in FX at Morgan Stanley, 4 years in business development for @jump_. Currently the CEO of @PythNetwork. Other notable names also come from @PythNetwork such as: @jayantkrish (CTO), @thebookofjoey, @abwrld_, @Michael2Powell, Ciarán Cronin (COO). In general, this team is building @PythNetwork - coming from @jump_ so they have connections with @solana, @wormhole. 👉A strong team but raised little, are they too rich? Let's take a look at some names on the board of Fogo Foundation: - James Reilly (Leader): Former co-founder of the Global Foreign Exchange Brokerage division at Morgan Stanley and has 10 years of experience in derivatives at JPMorgan. - Martine Bond (Director): Formerly held senior positions at Goldman Sachs and Morgan Stanley. Is there anyone following this deal?