In front are Chainbase invested by Tencent, and behind is Pharos in cooperation with Ant Chain. It can be said that both internet giants are entering this industry in an uncoordinated manner, and both are positioned as infrastructure.
The origin of the next currency circle.
Pharos was founded by the former blockchain head of Alibaba, and co-founder Alex Zhang previously served as the CTO of Ant Blockchain, later becoming the CEO of Ant's ZAN brand.
However, due to official services and compliance issues, they cannot engage in issuing tokens or building trading applications. The team, carrying the technical accumulation from Ant Chain, independently established the Pharos public chain.
In the early stages of the project, Pharos officially announced its exclusive partnership with Ant, confirming that Pharos is recognized by Ant officially. In North America, similar project cases, such as Move-based Sui and Aptos, have relationships with Meta, all aspiring to create high-performance L1.
Speculation on token issuance.
After a year, discussions about Pharos issuing tokens have been increasing, mainly due to the official plan to open the public testnet in May, combined with a large number of recent projects, which have accelerated the token issuance process through Binance Alpha, leading to growing discussions about Pharos' token issuance.
Currently, Pharos has completed:
· A total of 8 million financing led by Hack VC
· An exclusive testnet provided for developers
· Global hackathon events and official funding
In terms of progress, after completing the upcoming testnet, the next phase will be moving towards token issuance and mainnet launch.
Additionally, several institutions that previously invested in Pharos belong to Token Funds, which can only unlock returns through project-issued tokens. Therefore, token issuance for Pharos is already a certainty.
Project outlook.
From Pharos's new narrative: making capital flow as simple as payment, the team is focusing more on the high-performance public chain field, which means that under millisecond-level conditions, many experiences can respond in real time as if they were centralized.
From the official roadmap, Pharos plans to provide high-quality institutional RWA services in the asset field, ensuring an end-to-end process for RWA issuance and distribution.
Currently, it has been learned from peers that Pharos has already received a commitment for 300 million RWA assets, and once the testnet and mainnet are opened, this funding will be provided.
On the product level, it mainly focuses on privacy payments and decentralized AI, primarily stacking on the computational support layer, which is also what most current AI computational layer projects in the market are doing, providing on-chain computational support for computing power.
Currently, Pharos's actual TPS is 20,000, with the target progressing towards 50,000. The new public testnet is also conducting stress tests for this performance.
What about market value?
Pharos, due to its architecture using parallel EVM design, has comparable projects such as Monad, Reddio, and MegaETH, with the market expectation for this sector's market capitalization between 500 million to 3 billion.
According to the recent testnet news released by Pharos, the project team intends to move towards the on-chain RWA ecosystem, but more data in this regard will mainly depend on the subsequent on-chain scale of RWA. Therefore, the upcoming public testnet data for Pharos will be crucial.
From cooperation with large companies, to high-performance public chains, and then to RWA, Pharos provides a relatively clear plan, at least the team knows what they want to do, and the pure crypto team configuration ensures the maturity of the path, accelerating the possibility of future token issuance.
