BlockBeats report: On March 14, according to an official announcement, the L1 blockchain Pharos has strategically expanded its capital partnership with GCL-Poly Energy Holdings Limited (Stock Code: 0451.HK), a Hong Kong-listed company. GCL-Poly has completed its investment in Pharos, valuing the project at nearly $1 billion. The average FDV over the three months following Pharos’s TGE and subsequent three-month periods must not fall below $760 million; otherwise, further investments will not be executed. This investment enables Pharos to drive the RWA market from conceptual pilots toward large-scale, sustainable industrial commercialization.
Gridsum New Energy invests in Pharos with a valuation nearing $100 million
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Summary
On-chain news reveals that Gridsum New Energy (HKEX: 0451) has invested in the L1 blockchain Pharos at a valuation of approximately $100 million. Pharos must maintain an average FDV of at least $76 million during the first three months after TGE and in each subsequent three-month period to qualify for follow-on investment. This move supports Pharos’ objective to scale the commercialization of the RWA market. New token listings and on-chain activity continue to attract institutional interest.
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