What Is Pharos Network?
Pharos Network is the fastest EVM-compatible Layer 1 designed to unify Web2 and Web3 assets and liquidity, bridging over $50 trillion in RWA, TradFi, and cross-chain capital into a modular, on-chain economy at internet scale.
According to their docs, Pharos is structured into three primary layers: L1-Base, L1-Core, and L1-Extension:
- L1-Base: Delivers industry-leading data availability and hardware acceleration.
- L1-Core: A high-performance, globally distributed blockchain network powered by decentralized nodes. These nodes provide high-throughput and sub-second finality, enabling real-time Web3 user experiences.
- L1-Extension: Built on top of L1-Core, this layer supports network expansion across three dimensions:
- Leverages heterogeneous computation to create custom Special Processing Networks (SPNs), capable of running blockchain networks, sidechains, or non-blockchain applications like HFT, ZKML, and AI models.
- Enables Native Restaking to support rapid SPN creation, shared security, staking rewards, and slashing mechanisms. SPNs utilize the excess computing power of validators, providing flexibility in resource use while incentivizing upgrades.
- Facilitates Cross-SPNs Interoperation, allowing infrastructure, middleware, and application-focused SPNs to communicate and collaborate effortlessly, fostering a highly modular and composable ecosystem.
Pharos Network Team | Who Are The People Behind Pharos Network?
Pharos Network was founded by two experienced professionals from Ant Group, mainly Alex Zhang and Meng Wu.
Alex Zhang serves as the Chief Executive Officer of Pharos Network, bringing a wealth of experience from his tenure as the Chief Technology Officer (CTO) of Ant Chain, a blockchain division of Ant Group.
Additionally, Meng Wu is the Chief Technology Officer (CTO) and co-founder of Pharos Network, who previously held the role of Chief Security Officer for Ant Financial’s Web3 division.
Together, Zhang and Wu’s combined experience from Ant Group, a leader in fintech innovation, has positioned Pharos Network as a pioneering force in the blockchain industry. Their focus on real-world applications, regulatory compliance, and high-performance architecture has attracted significant investor interest and community engagement, with over 1.4 million testnet users and a $1.5 billion RWA pipeline announced with Ant Digital.
Pharos Network Funding Round
Pharos Network raised $8 million in a seed funding round, which was completed in September 2024 and was co-led by Lightspeed Faction and Hack VC, with SNZ Capital as a strategic anchor investor. Additional investors also include Reforge, Dispersion Capital, Hash Global, Generative Ventures, Legend Star, MH Ventures, Zion, and Chorus One Ventures.
The round, structured as a simple agreement for future equity (SAFE) with token warrants, will support the development of Pharos’ high-performance, EVM-compatible blockchain protocol, which aims to bridge traditional fintech with Web3 technologies, targeting 50,000 transactions per second for real-time payments and real-world asset applications.
The funding also coincides with a strategic partnership with ZAN (Ant Digital Technologies) to enhance Web3 infrastructure, with a testnet happening currently and a mainnet to be launched within the year.
Pharos Network Airdrop Guide – Step-By-Step Guide
👉 STEP 1: Head over to https://testnet.pharosnetwork.xyz/ and connect your Web3 wallet.
👉 STEP 2: Connect socials.
👉 STEP 3: Check in daily.
👉 STEP 4: Complete on-chain quests.
Swap and Provide Liquidity Tasks
Buy Blockchain Domain Names
Secure a Pharos Network Web3 username and pay PHRS testnet tokens with it.
RWAfi
Make sure to complete the steps in order to claim the AquaFlux Pioneer NFT.
Staking
CFD Trading
Collect NFTs
Make sure to collect all testnet badges. Each badge costs 1 PHRS, so make sure to claim testnet tokens (0.20 PHRS) via the faucet every 24 hours.
👉 STEP 5: Keep an eye on official announcements and hope for the best!
Key Takeaways Of Pharos Network
Pharos Network’s testnet matters because it rewards early supporters of a decentralized infrastructure project focused on privacy and data ownership.
Participants or airdrop hunters may benefit from receiving free tokens and gaining early exposure to a promising ecosystem.
However, risks include future token unlocks that could dilute value, and possible centralization if token distribution is uneven. Despite the uncertainties, joining the testnet could be worthwhile for those actively involved in Web3, especially users already supporting the network or holding affiliated assets.
Overall, it is an opportunity with upside potential that is best suited for those familiar with airdrops and willing to stay engaged as the project matures.
Community Details About Pharos Network
It is important to stay connected so you can quickly hear about new developments and announcements about Pharos Network.
Here are the official channels that you should be following:
- 🌐 Website: https://pharosnetwork.xyz/
- 🐦 Twitter/X: https://x.com/pharos_network
- 💬 Discord: https://discord.com/invite/pharos
- 📱 Telegram: https://t.me/PharosNetworkOfficial
- 📝 Docs: https://docs.pharosnetwork.xyz/
Lastly, always make sure to use official links from verified sources to avoid scams or phishing attempts.
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