The RWA track has limited interactable assets, coupled with its “Ant Group” background, the Pharos testnet has gained considerable popularity since its launch. What is the relationship between this $8 million funded new chain and Ant Group, and how can they interact? This article will provide a detailed analysis.

Project Background

On November 9, 2024, Pharos announced the completion of an $8 million seed round financing, 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 the Ant Group, and has also served as the CTO of AntChain. CTO Wish Wu was previously the CSO (Chief Security Officer) of @zan_team, a Web3 technology company under the Ant Group. CMO Laura Shen was formerly the marketing lead for Solana Mobile and has also held positions as the Crypto marketing lead at PayPal. Ecosystem Lead Aliu Musa has previously worked on ecosystem development at Celo and Arbitrum.

On March 6 of this year, the testnet for developers was launched, announcing a $20 million ecosystem project incentive, targeting innovative projects in RWA/Payments, DeFi, AI, DeSci, GameFi, etc.

Although the $8 million financing amount is not substantial compared to some public chains that have received tens of millions of dollars in funding, the $20 million ecosystem project incentive shows that Pharos is well-funded. In terms of partnerships, in April 2024, Pharos announced the open-source development of the Blockchain Virtual Machine DTVM jointly developed with AntChain and the Ant Group's Web3 technology company @zan_team and has maintained a cooperative relationship.

Interaction Tutorial

Visit the Pharos testnet page and connect your wallet.

After successfully connecting your wallet, pull down the page and claim test coins first. Here you can claim 0.2 test coins per day.

Additionally, on the website of @zan_team, each account can also claim 0.2 Pharos test coins per day.

Next, continue to scroll down the page, come to this place, and click on "Get Started".

Clicking will redirect you to the interactive task details page.

First is the daily check-in in the upper right corner, just click on it, this operation needs to be done daily.

After completing this operation, you can scroll down the page to the bottom to complete the 4 social tasks.

Then go back to the on-chain task section above, starting from Swap. Click the Swap button, which will take you to the Zenith page. Connect your wallet to Swap.

Then click on Deposit, which will also take you to the Zenith page. Choose the currency you just swapped and $PHRS to pair and form an LP.

Next, click Send, here you will send some $PHRS to a friend, fill in the quantity and address for the transfer.

As for the Invite below, clicking on it will take you to the invitation link, which can be used to invite newcomers to receive rewards. The remaining domain and NFT activities are waiting for future updates.

Conclusion

For chains focusing on RWA, the market, when evaluating their development progress, tends to pay more attention to the team's background and whether they have sufficient resources to develop a diverse and large number of asset packages on-chain. Therefore, the "Ant Group" color undoubtedly has boosted the current popularity of Pharos.

Overall, the entire interaction process is relatively convenient and efficient. You just need to follow the task list on the official website, and interested readers can easily give it a try.