Pharos

PROS is used as the native asset of the Pharos network. It is used to pay gas fees, interact with applications and support network activity on the Pharos Pacific Mainnet.

Pharos supports onchain financial use cases including tokenised financial products, instant payments, compliant finance, infrastructure assets and stablecoins. The network is designed to support cross-border settlement, tokenised yield and investment strategies, digital identity, zk-KYC, programmable AML and real-world collateral-backed stable assets.

Validators secure the network through a Byzantine fault-tolerant proof-of-stake protocol. Validator nodes process transactions and can receive revenue from transaction fees, staking rewards and restaking-related activity.

Developers can use Pharos to deploy smart contracts, tokens, NFTs and decentralised applications through EVM-compatible tooling, including JSON-RPC, Foundry, Hardhat and Rust-based development flows.

Pharos was founded by former Ant Group leadership. The project’s public materials identify Wish Wu as co-founder and CEO of Pharos.

Pharos has raised external funding, including an $8 million seed round backed by Hack VC, Faction VC and other investors. The project also states that it has partnered with Ant Digital Technologies and is incubating a real-world asset exchange pipeline.