BNB basically has take over the meme liquidity for now. Solana has enjoy the happy time and get the meme mindshare in the pasty years. Since the ICM narrative proposed, they actually give up the meme narrative, and start to embrace the on-chain IDO.

One of the top ICM narratives is Solana forks, Toly has been advocating for someone to "Fork Solana" for many months. There is slight difference between Solana Forks and previous SVM narrative, SVM mainly focus on execution layer, and we can see lots of them would have to modify to adhere the demands, such as Layer2, payments.

Fork Solana is much more straightfoward, Forks are full-stack networks, not just execution layers, and operate as separate entities from Solana mainnet.

Wave of SVM narrative

Fogo

FogoChain is designed particularly for institutional-grade finance and high-frequency trading, which is most positioning in this market. Built as an SVM (Solana Virtual Machine) chain, it runs the Firedancer client in its purest form, achieving breakthrough metrics such as 46,531 transactions per second (TPS) and 40-millisecond block times.

Fogo differentiates itself through innovative architecture, including multi-local consensus and a performance-incentivized validator set, aiming to bridge traditional finance (TradFi) performance with decentralized infrastructure.This report covers Fogo's background, technology, team, funding and tokenomics, ecosystem, community, roadmap, competitors, risks, and future outlook. Information is drawn from official sources, web searches, and X ecosystem analysis as of the current date.

Architecture

FogoChain runs the Firedancer client in its purest form, achieving breakthrough metrics such as 46,531 transactions per second (TPS) and 40-millisecond block times.

• Pure Firedancer Client: Fogo mandates the use of Firedancer (developed by Jump Crypto) as the canonical client, optimized for parallel processing, memory management, and SIMD instructions. This avoids performance bottlenecks from client diversity seen in Solana.In devnet, it achieved 20ms block times and 45k TPS; testnet metrics show 46k+ TPS and <40ms finality.
• Multi-Local Consensus: Validators are dynamically co-located in "zones" (e.g., single data centers) to minimize latency, with zones rotating across epochs for decentralization and resilience. This "follow the sun" model reduces propagation delays (e.g., same-rack setup for near-zero latency) while falling back to global consensus if needed. Zones are proposed via on-chain governance, with stake-weighted voting requiring a supermajority.
• Validator Set and Incentives: A curated validator set (min/max size for decentralization) enforces high performance, with slower nodes penalized or ejected via 2/3 supermajority governance. Rewards favor efficient clients, and commissions are fixed at 10% initially to align incentives.
• Other Features: TowerBFT consensus, Turbine block propagation, and leader rotation from Solana. Fogo Sessions provide a gasless UI for seamless transactions. The litepaper (Version 2.0) details these, positioning Fogo for HFT and perps trading without ADL (Auto-Deleveraging) issues.

The testnet only containing voting transaction reach average 100 TPS for now.

But at peak, it could reach 10K TPS in the early testnet.

Team

Fogo's team comprises industry veterans with expertise in quant trading, blockchain infrastructure, and finance:

• Doug Colkitt (@0xdoug): Co-founder; Founder of Ambient Finance (formerly CrocSwap); Ex-quant at Citadel Securities.
• Michael Cahill: Contributor; CEO of Douro Labs (creators of Pyth Oracle).
• Robert Sagurton: Key contributor.
• Other notables: Jayant Krishnamurthy, Jeff Wang, Pat Callaghan, Miyuki Eto, Mateo Ward, Robert Leshner (Superstate/Compound), Tarun Chitra (Gauntlet), Tristan Yver (FTX), and more from firms like Nonco and Autonomous

Funding and Tokenomics

Fogo has raised $13.5 million total: $8 million public sale via Echo at $100 million FDV. $5 millio in seed round.

Fogo is pre-token ($FOGO), with no official tokenomics released. Speculative leaks suggest a structure similar to Monad, but these are unverified. Speculative leaks suggest a structure similar to Monad, but these are unverified. Q3 updates mention vesting schedules for investors (36 months), but details remain sparse.

Ecosystem

Fogo's ecosystem emphasizes trading

• Ambient Finance: Zero-to-one perps DEX founded by Doug Colkitt, integrated for low-latency trading.
• Valiant Trade: Institutional browser-based DEX with CEX speed.
• Invariant: Dex on SVM eco
• Pyron Finance: Lending/borrowing protocol with liquidation engine connected to Valiant.
• xLabs : Provides multi-region RPCs, validators, and staking; core contributors to Wormhole.
• Pyth Network: Oracle integration for real-time data.
• NFTs: Fogalio as a community PFP collection.

Fogo Flames

The program rewards users with Flames points for contributing to the ecosystem through various activities, such as on-chain interactions, social engagement, and testnet participation.

• Pyth Network - Oracle Integrity Staking: Stake PYTH tokens through Oracle Integrity Staking
• Ambient Finance: Trade tokens or deposit them to an LP vault
• Fogo Discord: Hold a role in the Fogo Discord
• Fogo Twitter: Share and engage with content from the Fogo main account

Season1 has been concluded, Season 2 is not disclosed for long time, maybe skip to TGE directly

Fork Solana Now

SVM narrative in some way has proven eco is not hyped as we would expected. And those project are far away from the EVM forks before. Only Solayer is successful in some way.

Fork Solana is a cost saving way than the previous SVM. Just fork it, could incentive more developers to build some application specific chains to grow up the whole SVM ecosystem.

Let's see current which client codebase is more popular first

The primary clients are the Rust-based Agave (from Solana Labs) and its forks like Jito (which adds MEV features), alongside the newer C-based Firedancer (from Jump Crypto) and its hybrid variant, Frankendancer. Frankendancer is a hybrid of Firedancer and Agave code running side by side. Frankendancer replaces the Agave networking stack and block production components to perform better while leader. It is not yet possible to run a full Firedancer validator, which is in heavy development. Jito flags are added to any version for a validator that has mev rewards from jito.

Firedancer delegating 2M SOL to ~100 validators, so Firedancer's stake has surged from ~9.3% in July 2025 to over 20% by early October.

The Forward Industries launch on DoubleZero (a high-performance fiber network) highlights institutional interest, with DoubleZero now hosting ~29.5% of stake across 395 validators. Not all DoubleZero validators use Firedancer, but many do, contributing to its rise.

There are currently three ICM project targeting Fork Solana, each with a different story and positioning.

Banana Chain

Banana Chain positions itself as a "Fork-as-a-Service" platform built on a specialized fork of the Solana blockchain, tailored for memes, fun, and games. The project's focus on high-throughput tools like TPS testers and ephemeral rollups positions it as a niche player in Solana's ecosystem, and it has garnered attention from Solana co-founder Anatoly Yakovenko through quotes and replies on X.

For Banana chain itself, is a Solana fork utilizing SVM for parallel transaction processing, inheriting Solana's Proof of History (PoH), Tower BFT consensus, and tools like Turbine for block propagation.

The team is anonymous, with no public bios, LinkedIn, or doxxing. X posts suggest experienced devs (e.g., rapid tool builds), but lack of transparency fuels scam concerns. Advisors include @lightofrahim (prev. community Solana, former Solana Spaces marketer, Arab/indian mixed, parents were born in east africa, was raised in Canada).

Product Pipeline

• Fork-as-a-Service: Deploy custom SVM forks with validators, wallets, swaps, launchpads, charts, and bridges. No technical expertise needed; pay with $BANANA or $SOL.
  
• Validators Marketplace: Beta tool for spinning up Solana validators on cloud providers (Tier 2 live; majors like Google/Amazon incoming). Minimum $1,000 credit deposit
• TPS Tester: Public tool for benchmarking Solana/Alpenglow nodes (up to 18,000 TPS). FCFS access; future multi-node and simulation features. (Down for now)
  
• Ephemeral Rollup: Near-feeless rollups for gaming/casinos, settling on Solana mainnet. Dev start in Phase 4. (Coming Soon)
  
• SVM Bridge and Other Tools: Cross-chain bridges, Banana Wallet, Faucet (for testnet/devnet), and RPC endpoints(https://rpc.bananachain.dev). In Practice
  • The Backpack could configure the RPC
  • Solscan couldn't resolve the data stream
    

Ecosystem

Dev Progress

Their twitter update align with the disclosed roadmap progress, but GitHub is till a personal account, with four public repos, and no updates since August.

$BANANA

Its token $BANANA is highly controlled. Tokenomics details are minimal, with no official breakdown of allocations like team shares, burns, or staking rewards. As a utility token in the Banana Chain ecosystem

• Burned 20%
• Remaining 80%
  • 19% Dev, 12 months weekly linear vesting
  • 1.8% Dev Own Address, not selling so far,
    • G3XSq83kGCa2LvthTgh1bsCGBc7H7edEzgauDaBgF4n6

Analos

Analos ($LOS) may be the only functional fork of Solana from ICM, launched in September 2025. It offers a vertically integrated ecosystem with native tools including RPC, Wallet, Explorer, Bridge, DEX, and Launchpad, aiming to provide enhanced performance, lower costs, and greater decentralization compared to Solana. The project emphasizes deflationary tokenomics through regular burns, fair launches without MEV (Miner Extractable Value), and community-driven growth.

The project's name is "Solana" spelled backward, adding a meme-friendly element that has contributed to community hype. So the application on its mainnet is mainly for MEME launchpad. So far, we could treat it as a chain designed for Meme launchpad, separate the MEME narrative from Solana mainnet.

Ecosystem

For team behind the project, no public members now, but the team shipped the product faster than others, and build a strong ecosystem with basic infra and tools.

The experience is smooth, bridge arrived quickly, swap and bet on launchpad all works. But the UI and interface is AI generated for sure, need to upgrade, validator set need to be expanded. Back to see their launchpad, 80+ tokens launched; 3 bonded; 24h DEX volume ~$41.8K as of Oct 14.

There are multiple ecosystem projects gradually coming up. Most of them are still memecoin, one project from MEN is building some product to support their coin.

• Memecoins
  • MEN: MEN Coin
  • LOL: LOL
  • KNOB: Knobanalos
• LOS Screener: Los Screener
• Analos Pay: Power by Men, the same team, upcoming payment gateway for merchant integrations (nearing 100% functionality)

Media Matrix

It is uncommon to see a ICM project to build its own media matrix. Analos Guild serves as a dedicated fan account for Analos, promoting $LOS token through ecosystem updates and community initiatives. It spotlights lesser-known developments like the integrated Analos Pay for token swaps and merchant APIs, alongside a 50,000 $LOS creative contest to boost engagement.

The account builds hype around Analos's live pitch to Solana co-founder Anatoly Yakovenko on October 28, 2025, envisioning it as a parallel chain for enhanced developer freedom and Solana's multi-chain evolution. On Oct 28, 2025, not only pitch on Solana's X account to Anatoly Yakovenko, but also Mert He, Ansem, and Qiao. More exposure coming

$LOS

$LOS is the native token, used for fees, bridging, and ecosystem interactions. It is deflationary, with mechanisms to reduce supply over time.

The oracle claims all trading and migration fees from the launchpad and DEX every 10 minutes, distributes all tokens into the burn and validator vaults every 30 minutes:

• Validators vault:
  • 0.5% of launchpad swap fees
  • 0.5% of DEX swap fees
  • 50% of migration fees (5% of bonding curve)
• Burn Vault:
  • 1% of launchpad swap fees
  • 0.8% of DEX swap fees
  • 50% of migration fees (5% of bonding curve)
  • 100% of token creation fees
  • All tokens from the burn vaults on both chains will be burned approximately once per day.

Gorbagana

Gorbagana Chain is a community-driven Layer 1 blockchain forked from Solana, originating as a meme coin ($GOR) in June 2025. It embodies a "trash culture" ethos—chaotic, degen-focused, and anti-establishment—aiming to create a fair, fast, and meme-centric ecosystem without VC funding or premine. The project has evolved from a satirical dare into a functional chain with testnets, a bridge, NFTs, and ongoing development.

The project traces back to a June 2025 Twitter exchange between crypto lawyer Gabriel Shapiro (@lex_node) and Solana co-founder Anatoly Yakovenko. Shapiro jokingly proposed forking Solana as "Gorbagana" (garbage + Solana), and Yakovenko challenged: "If there's no Gorbagana chain in 48h, I'll be disappointed." Community members, including developer Sarv(@Sarv_shaktiman), took it seriously, launching a Solana-based meme coin ($GOR) and forking the chain within 24 hours.

Core Team:

• Gabriel Shapiro (@lex_node): Trash Chairman, Chief Vibes Officer; cyberpunk lawyer, MetaLeX founder.
• Sarv (@Sarv_shaktiman): Dev lead; ex-Milady, Mintair.
• Eclipse (@ec1ipse_sol), Hella Badid (@hella_badid): Ecosystem/community.
• Mojave Labs (@neogio3d,@davidsidol): Infra/validator experts via CLI_App.
• Tom Howard: Taureon Capital founder.

Current council members are only three people: Gabriel Shapiro, Sarv, Tom Howard

We could refer to the comparison posted by Analos Guild

Dev Progress

Built on Solana's proven architecture, Gorbagana inherits:

• Proof of History (PoH) consensus - Cryptographic clock for transaction ordering
• Tower BFT - Practical Byzantine Fault Tolerance optimized for PoH
• Turbine - Block propagation protocol for fast network communication
• Gulf Stream - Mempool-less transaction forwarding
• Sealevel - Parallel smart contract runtime for high throughput
• Pipelining - Transaction processing optimization across validation stages

Basically, Gorbagana is directly inherit the architecture of Solana implementation. But they are more strict on the process, and open two phases of testnet.

• Key Milestones:
  • June 20, 2025: Testnet launches; hits 10M transactions in 48 hours.
  • June 23, 2025: Reaches 14M transactions; $GOR MC peaks at $60M.
  • July 1, 2025: Testnet V2 live; 12K wallets, 1M+ transactions.
  • July 7, 2025: Announces low-latency fee markets and anti-censorship features.
  • September 2025: Gorbagana Acceleration (GOR/ACC) launchpad announced.
  • October 2025: Trashnet (mainnet alpha) teased; dealing with validator issues.

From the current status of explorer, faucet, mainnet is approaching. They may build in private repo, since the public repo didn't update for a month.

Ecosystem

Because it started about half year ago, it has the most organic community and ecosystem so far compared to the other two competitors. Gorbagana's ecosystem embodies degen innovation, with 73+ apps/games, launchpads, and NFTs driving growth in months. While technical hurdles persist, its community and meme-native design offer high upside in a Solana-fork landscape.

From the infrastructure side, build the strong basis and documentations.

NFTs: Gorbagios (4,444 Dumpster Divers), encouraged to be used by Gorchain apps for airdrops and perks.

Name Services: GorID, Gor Name Services

Memecoin

• $Trashcoin, same team by Trashtoshi GormotoX, Peer-to-Peer Electronic Trash System; halvings every 4 years, minting soon on Trashnet. Bitcoin-inspired with Gorbagana utility.
• $OSCAR, GORBAGANA DAEMON

Their media matrix is built a little bit late, such as Build on Gor, it is not actively promoting projects like Analos.

$GOR

$GOR will be the native gas token of Gorbagana

• Supply: 1 billion $GOR (fair launch on Solana via pump.fun).
• Migration: Bridge to $gGOR on Gorbagana; gradual inflation for incentives (dev rewards, staking, liquidity mining).
• Utility: Gas fees, governance, ecosystem incentives.
• Flywheel: Degens → Apps → Volume → TVL → More devs.

Most whales and the team got their tokens at about $15m MC on average, lots of them are at lost but still holding. Considering lots of eco project are DCA buying, degens lose money and build together.