Pharos Network Testnet Launch: A High-Performance Layer 1 Blockchain for RWA
On May 16, 2025, Pharos, an EVM-compatible Layer 1 blockchain founded by former Ant Group executives, officially launched its testnet. Positioned as a high-performance, modular blockchain, Pharos boasts a transaction throughput of 30,000 TPS with one-second finality and a blockchain-based verifiable storage solution that reduces costs by 80.3%, sparking significant interest in next-generation Web3 infrastructure. This article explores Pharos’ team background, technical architecture, ecosystem potential, and interaction strategies.
Team Background
Pharos is led by a seasoned team with deep expertise in blockchain and Web3, primarily from Ant Group and other prominent projects:
- Alex Zhang (CEO): Former CTO of AntChain, CEO of Ant Group’s Web3 project ZAN, and head of Alibaba’s Damo Academy Blockchain Lab.
- Wish Wu (Co-founder & CTO): Former Chief Strategy Officer of Ant Group’s ZAN Web3 initiative.
- Laura Serein (CMO): Previously held marketing roles at Solana, PayPal Crypto, and Visa.
- Wilguish (Head of Ecosystem): Former team member at Wormhole.
Pharos is actively recruiting for roles such as senior blockchain engineers (C++), social media managers, Web3 research interns, and blockchain development interns (C++).
In November 2024, Pharos secured $8 million in a seed funding round led by Lightspeed Faction and Hack VC, with participation from SNZ Capital, Reforge, Dispersion Capital, Hash Global, Generative Ventures, Legend Star (Lenovo’s early-stage investment arm), MH Ventures, Zion, and Chorus One. The round, conducted via a SAFE agreement with token warrants, began in July 2024 and closed in September, as shared by CEO Alex Zhang with The Block. Additionally, in March 2025, Pharos launched a $20 million ecosystem grant program to foster innovation and growth by supporting projects that advance its technology and applications.
According to researcher @WorldOfMercek, Pharos plans to launch its mainnet in Q3 2025, with $300 million in renewable energy RWA assets committed for deployment. Peer insights from @_FORAB confirm this commitment. In Q4 2025, Pharos aims to introduce Special Processing Networks (SPNs) and optimize its RWA environment, with plans to expand asset types and institutional partnerships in 2026.
Pharos Architecture
Pharos is a modular, EVM-compatible, full-stack parallel Layer 1 blockchain designed for high throughput, low latency, scalability, and support for heterogeneous computing and cross-chain interoperability. Its core mission is to provide enterprise-grade infrastructure for Web3 applications, bridging real-world assets (RWA) and DeFi. Drawing parallels with the Cosmos SDK, Pharos enables the development of both Layer 1 and Layer 2 solutions on its infrastructure.
Macro System Design
Pharos employs a three-layer architecture:
- L1-Base: Ensures data availability and hardware acceleration.
- L1-Core: A high-performance, globally distributed blockchain network powered by decentralized nodes.
- L1-Extension: A modular extension layer enabling network expansion in three dimensions:
- Special Processing Networks (SPNs): Custom networks for blockchain, sidechains, or non-blockchain applications (e.g., high-frequency trading, ZKML, and AI models).
- Native Restaking: Validators can restake mainnet tokens to SPNs, enabling shared security, reward distribution, and slashing mechanisms.
- Cross-SPN Interoperability: Facilitates seamless asset and data transfer across SPNs, supporting infrastructure, middleware, and application-specific SPNs for a composable ecosystem.
Functional Modules
Pharos’ modular blockchain stack comprises:
- Consensus Layer: Supports PBFT, PoS, and PoA consensus models, ensuring efficient communication and validation between SPNs and the main network. It leverages three node types: validator nodes (running BFT-based PoS for security and transaction processing), full nodes, and relayer nodes (supporting data distribution, state sync, indexing, and APIs). Validators earn transaction fees, staking rewards, and additional income through restaking.
- Execution Layer: Features a scheduler for parallel transaction processing with optimized algorithms to maximize parallelism and minimize conflicts, and a dual-VM executor (EVM and WASM) for fast, flexible smart contract execution. Pharos uses optimistic execution and a “Pipeline Finality” algorithm to prioritize transaction finality, ensuring quick result aggregation and a maximum finality time per block.
- Settlement & Restaking Layer: Validators can restake mainnet tokens to SPNs, enhancing security and rewards for both networks. Pharos’ restaking protocol enables rapid SPN deployment, ensuring shared security and resource pooling.
- Data Availability Layer: Utilizes Authenticated Data Structures (ADS) for high-throughput, low-latency storage, achieving up to 15.8x higher throughput and 80.3% storage cost savings. Combined with cross-SPN protocols and native restaking, Pharos claims second-level finality.
Pharos adopts Ethereum’s Gas model, compatible with EIP-1559 (dynamic base fee + priority fee), with base fees recalculated per epoch. It also integrates seamlessly with restaking protocols like Babylon and Eigenlayer for enhanced interoperability and security.
Ecosystem Potential and Use Cases
CEO Alex Zhang emphasized to The Block that real-time payments and RWA tokenization are Pharos’ primary focus. Pharos has partnered with ZAN (Ant Group’s Web3 brand) to develop Web3 infrastructure focused on node services, security, and hardware for RWA use cases. A separate collaboration with the World Stablecoin Payment Network (WSPN) targets stablecoin payment solutions.
Pharos’ key use cases include:
- Institutional-Grade RWA Tokenization: Leverages zkDID authentication and on/off-chain credit systems for assets like renewable energy, real estate, and supply chain finance. CTO Wish Wu noted that Pharos aims to price assets using trusted data and blockchain, bypassing centralized financial institutions.
- On-Chain CLOB or Spot DEX: Supports advanced order types like stop-loss, take-profit, and TWAP.
- Real-Time Payments: Enables seamless hybrid payment systems with one-second finality and low costs.
- Scalable DePIN: Facilitates decentralized physical infrastructure networks.
- Unified Liquidity Across VMs: Supports EVM and WASM smart contract interoperability under a unified account system, reducing multi-chain deployment costs for developers.
Interaction Strategy
Given Pharos’ SAFE-based seed funding with token warrants and the deployment of its native PHRS token for testnet fees, a native token launch is anticipated. Pharos’ official X account reported over 110,000 unique users within 24 hours of the testnet launch.
Here’s how to interact with the Pharos testnet:
- Connect Wallet: Visit https://testnet.pharosnetwork.xyz/ and connect an EVM-compatible wallet (e.g., OKX Web3 wallet, which auto-configures the Pharos testnet).
- Claim Testnet Tokens:
- Claim 0.2 PHRS every 24 hours at https://testnet.pharosnetwork.xyz/ (requires human verification).
- Claim 0.2 PHRS every 24 hours at https://zan.top/faucet/pharos (requires registration).
- Attempt to claim USDC or USDT at https://testnet.zenithswap.xyz/faucet (note: some users report issues).
- Complete On-Chain and Social Tasks: Access tasks at https://testnet.pharosnetwork.xyz/experience:
- On-Chain Tasks:
- Swap tokens and add liquidity on Zenith. After swapping PHRS for USDC/USDT, create a liquidity pool by selecting a fee rate and investing the swapped tokens.
- Transfer PHRS to other EVM addresses via the “Send” function.
- Invite friends to join the testnet.
- Social Tasks: Complete daily check-ins and engage on platforms like Discord (verify in the testnet-feedback channel and check points with /testnetinfo).
- On-Chain Tasks:
- Explore Ecosystem Projects: Visit https://testnet.pharosnetwork.xyz/ecosystem to interact with Pharos’ ecosystem.
- Deploy Contracts (Optional): Deploy simple timer contracts, ERC-20 tokens, or NFTs on the testnet to enrich interaction data. For example, token deployment requires entering a name and symbol.
Challenges and Opportunities
Pharos leverages the technical expertise and resources of its Ant Group alumni to position itself as a leader in RWA tokenization and high-performance DeFi. Its modular architecture and SPNs offer flexible customization for enterprise applications, while EVM compatibility lowers developer barriers. However, challenges include balancing performance with decentralization, navigating regulatory compliance (especially for RWAs), and building a sustainable tokenomics model.
With its testnet live, Pharos’ success in the Web3 infrastructure race will hinge on its technical execution, ecosystem expansion, and adoption by traditional financial institutions. If it delivers on its performance promises and bridges RWA with DeFi, Pharos could emerge as a pivotal hub connecting real-world assets to the blockchain ecosystem.
