On March 24, the Layer 1 public chain Pharos, which focuses on TradFi, went live with its public development network on March 6, calling on all developers to build and stress test on the first EVM-compatible Layer 1 that reaches 2 gigagas per second.
According to its official website, Pharos founder and CEO Alex Zhang previously served as CTO at Ant Chain; Pharos co-founder and CTO Meng Wu was previously the chief security officer of Ant Financial's Web3 business; Pharos CMO Laura Shen was previously the Solana mobile marketing lead at Solana Labs.
BlockBeats previously reported that on November 9, 2024, Pharos completed an $8 million seed round, led by Lightspeed Faction and Hack VC, with SNZ Capital participating as a strategic investor. Other investors include Dispersion Capital, Hash Global, Generative Ventures, MH Ventures, Zion, and Chorus One.