There are not many interactive assets in the RWA track, and with the 'Ant Group' background, Pharos's test network gained considerable popularity immediately upon launch. What is the relationship between this newly funded $8 million chain and Ant Group? How should one interact? This article will provide a detailed overview.
Project Background
On November 9, 2024, Pharos announced the completion of an $8 million seed round financing, with participation from Faction, Hack VC, SNZ Holding, Reforge, Dispersion Capital, Hash Global, Generative Ventures, Legend Star, MH Ventures, Zion, and Chorus One Ventures.
CEO Alex Zhang was previously the CEO of the Web3 technology company @zan_team under Ant Group and also served as the CTO of AntChain. CTO Wish Wu was previously the CSO (Chief Security Officer) of @zan_team. CMO Laura Shen was previously in charge of marketing for Solana Mobile and also worked as the marketing head for Crypto at Paypal. Ecosystem manager Aliu Musa has also worked on ecosystem development at Celo and Arbitrum.
On March 6th of this year, a test network for developers was launched, announcing a $20 million ecosystem project incentive aimed at RWA/payment, DeFi, as well as innovative projects in AI, DeSci, GameFi, etc.
Although the $8 million funding amount is relatively small compared to some previous public chains that raised tens of millions of dollars, the $20 million ecosystem project incentive indicates that Pharos is not short on funds. From the perspective of partnerships, Pharos announced in April 2024 that it has open-sourced the blockchain virtual machine DTVM co-developed with AntChain and the Ant Group's supercomputing team, and it continues to maintain a partnership with the Web3 technology company @zan_team under Ant Group.
Interaction Tutorial
Enter the Pharos test webpage and connect your wallet.
After successfully connecting your wallet, scroll down the page to claim test tokens; you can claim 0.2 test tokens here every day.
Additionally, on the @zan_team website, each account can also claim 0.2 Pharos test tokens daily.
Then continue to scroll down the page to this section and click 'Get Started'.
Clicking here will redirect you to the interaction task detail page.
First, in the upper right corner, there's the daily sign-in; just click it; you need to perform this action daily.
After completing this operation, scroll down to the very bottom to finish the 4 social tasks.
Then return to the on-chain tasks section above, starting from Swap. Click the Swap button, and it will redirect you to the Zenith page. Connect your wallet to perform the Swap.
Then click Deposit, which will similarly redirect you to the Zenith page. Choose the cryptocurrency you swapped earlier and pair it with $PHRS to create an LP.
Then click Send; here you can send some $PHRS to friends by filling in the amount and address for the transfer.
As for the Invite below, clicking it will lead to an invitation link that can be used to invite newcomers for rewards. The remaining domain names and NFT activities will await further updates.
Conclusion
For chains focusing on RWA, the market pays more attention to the team's background when assessing its development level, particularly whether there are sufficient resources to develop a diverse and abundant amount of assets on-chain. Therefore, the influence of the 'Ant Group' undoubtedly boosts the current popularity of Pharos.
Overall, the entire interaction process is quite convenient and quick; you just need to follow the task list on the official website. Interested readers can give it a try.