There are few interactive targets in the RWA track, and with the "Ant Group" background, Pharos testnet has gained high attention upon launch. What exactly is the relationship between this new chain that raised $8 million and Ant Group? How will they interact? This article will provide a detailed overview.
Project Background
On November 9, 2024, Pharos announced the completion of an $8 million seed round, 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 @zan_team, a Web3 technology company under Ant Group, and also served as CTO of AntChain. CTO Wish Wu was previously the CSO (Chief Security Officer) of @zan_team. CMO Laura Shen was previously the marketing head of Solana Mobile and had also served as the Crypto marketing head at Paypal. Ecosystem head Aliu Musa previously worked on ecosystem development at Celo and Arbitrum.
On March 6 this year, the testnet for developers was launched, announcing a $20 million ecosystem project incentive targeting RWA/payment, DeFi, and innovative projects in AI, DeSci, GameFi, and other areas.
Although the $8 million funding is not much compared to some public chains that have raised tens of millions, the $20 million ecosystem project incentive shows that Pharos is not short on funds. In terms of partnerships, Pharos announced in April 2024 that it open-sourced the blockchain virtual machine DTVM jointly developed with AntChain and Ant Group's super computing team, and maintains a cooperative relationship with @zan_team.
Interaction Tutorial
Enter the Pharos testnet page and connect your wallet.
After successfully connecting the wallet, scroll down the page and claim test coins, where you can receive 0.2 test coins daily.
Additionally, on the @zan_team website, each account can also receive 0.2 Pharos test coins daily.
Continue scrolling down the page and click "Get Started".
After clicking, you'll be redirected to the interaction task details page.
First, click the daily check-in at the top right, which needs to be done daily.
After completing this, scroll down to the bottom and complete the 4 social tasks.
Then return to the on-chain tasks section and start with Swap. Click the Swap button to jump to the Zenith page. Connect your wallet and perform the Swap.
Next, click Deposit, which will also redirect to the Zenith page. Select the token you just swapped and pair it with $PHRS to create an LP.
Then click Send, where you send some $PHRS to a friend by filling in the amount and address.
The Invite section provides an invitation link for inviting new users to earn rewards. The domain and NFT activities are pending future updates.
Conclusion
For chains focusing on RWA, the market pays significant attention to the team's background and whether they have sufficient resources to develop diverse and substantial asset tokenization. Therefore, the "Ant Group" color undoubtedly boosts Pharos's current popularity.
Overall, the interaction process is quite convenient and straightforward - just follow the task list on the official website. Interested readers can give it a try.
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