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Pharos Network Launches Pacific Ocean Mainnet and $PROS Token After $52 Million Raise

Pharos said it launched the PacificOcean Mainnet and native PROS token for real-world asset settlement and circulation after raising $52 million, while targeting support for more than 50 dApps and a valuation of about $1 billion.

USDC

Summary

Pharos Network announced the launch of the PacificOcean Mainnet and native token PROS after raising $52 million. The project said the network is designed for real-world asset settlement and circulation, plans to support more than 50 dApps, and is targeting a valuation of about $1 billion. Earlier project details said the Layer 1 blockchain’s public testnet processed nearly 4.3 billion transactions across more than 200 million wallet addresses, and that the mainnet launches with USDC and CCTP infrastructure.

Terms & Concepts
  • Layer 1 blockchain: A base blockchain network that processes its own transactions and supports applications without relying on another chain for core settlement.
  • dApps: Decentralized applications that operate on blockchain networks through smart contracts, rather than through a centralized operator.
  • CCTP: Cross-Chain Transfer Protocol, an infrastructure tool that enables USDC to move natively between supported blockchains.