July 2, 2026—Pharos Network, a Layer 1 public chain focused on real-world finance and AI, officially announces its first incubation project Faroo since the launch of the Pharos Incubation Program. As the first and key supported project of the Pharos $10 million incubator, Faroo will receive comprehensive investment and resource support from Pharos, with a confirmed project valuation of $10 million. Meanwhile, Faroo is launching an innovative RWA Hybrid Vault product, expanding the yield scenarios for $PROS holders and bringing dual returns that combine native staking and RWA yields to a wide range of token holders.

In February this year, Pharos announced the launch of a $10 million fund to kick off the incubator project, aiming to connect real assets with on-chain finance as its core mission, and to support early teams in building innovative applications in the intersection of RWA and DeFi. Participants can receive comprehensive empowerment, including technical guidance, product launch support, and investor networking connections. Although RWA has become the core narrative of the crypto industry this year, it is still mainly at the "static tokenization" stage, lacking composability and being inefficient as collateral to truly participate in the DeFi ecosystem.

As the first project launched by the incubator, Faroo leverages its technological accumulation in liquidity staking and its highly strategic synergies with the Pharos ecosystem, being the first to obtain a $10 million valuation and full-cycle resource injection from Pharos. The project has joined the Pharos RealFi Alliance, becoming a key part of the ecosystem's liquidity infrastructure.

The Faroo team has rich experience in cross-chain staking infrastructure, and its technical solution is built on the Bifrost SLPx module, combining Layer 1 level security with native cross-chain interoperability. The core innovation of the project is its unique "Hybrid Yield" mechanism, which combines on-chain staking rewards with yields generated from real-world assets (RWA), providing users with diversified yield exposure.

Pharos Network is a finance-grade, asset-native Layer 1 network that aims to integrate $50 trillion of real-world assets (RWA), traditional finance (TradFi), and cross-chain capital into a modular on-chain economic system. In April 2026, Pharos officially launched the Pacific Ocean mainnet and the $PROS token. To date, Pharos has raised a total of $52 million. Faroo is deeply established on the Pharos ecosystem, relying on its native token economic model, RealFi Alliance RWA asset channel, and a comprehensive compliance framework, successfully bridging decentralized technology and regulatory compliance.

Faroo also launches the exploratory Faroo RWA Hybrid Vault staking product, significantly increasing the application scenarios and investment opportunities for $PROS stakers. Users can receive incentives corresponding to specific corporate market performance by further locking their staked $PROS in the vault. The launch of this product marks that $PROS token holders will no longer be limited to a single staking yield, but will be able to obtain both on-chain staking rewards and RWA project yields simultaneously through the Faroo protocol. Pharos Co-founder & CEO Wish Wu stated: "Faroo demonstrates that real-world assets and on-chain staking can be deeply integrated at the same protocol layer. This not only greatly enhances the application scenarios for $PROS but also provides reusable liquidity infrastructure for the entire RealFi ecosystem."

As the first project launched by the Pharos incubator, the implementation of Faroo fully demonstrates Pharos's comprehensive empowerment capability from foundational public chains to application ecosystems. The incubator not only provides $10 million level financial support but also relies on Pharos's institutional-grade infrastructure, RealFi Alliance partners, and global compliance financial networks to provide full-cycle escort for early-stage projects from technical development to market expansion. The Pharos incubator will continue to be open to global developers and RealFi innovation teams, using Faroo as a benchmark to accelerate the construction of the next generation of real yield underlying asset ecosystems, promoting a compliant, scalable, and programmable on-chain financial system toward the mainstream.

About Pharos Network

Pharos is a Layer 1 public chain focused on real-world finance, compliant finance, and global capital liquidity, targeting institutional-grade assets and compatible with EVM. To coordinate on-chain real financial activities, Pharos deeply integrates high-performance parallel execution, modular special processing networks, and protocol-level compliance infrastructure, incorporating ZK-KYC/AML mechanisms, AsyncBFT consensus, and dualVM (EVM + WASM compatible), supporting RWA, stablecoins, cross-border settlements, on-chain yield markets, and programmable financial products with internet-grade scale. Pharos has established partnerships with leading institutions in the global financial system, including Circle, Chainlink, Anchorage Digital, Morpho, and Centrifuge, connecting regulated capital markets with on-chain liquidity venues, allowing real-world assets to be genuinely allocated to strategies that generate real yields. Pharos was co-founded by former core management and technical teams from Ant Group, with investors including Hack VC, Faction VC, Sumitomo Corporation, Flow Traders, SNZ, and other global financial institutions and infrastructure.