Odaily Planet Daily report: On April 30, Pharos officially announced that, following the listing of its PROS token on the 28th, the valuation benchmarks set by GCL Group for its strategic investment have been met. The preliminary conditions for the initial token-for-share exchange have been largely fulfilled, and both parties are now completing the final regulatory procedures.
GCL Group, a leading industry player among the World's Top 500 Brands, will deeply collaborate with Pharos. In the future, Pharos will leverage GCL’s overseas renewable energy and computing power assets to build a global A2A decentralized trading market based on real-world assets, and explore new business models by accumulating operational data from the industry, beyond the traditional public chain profit model centered on gas fees.
The Pharos team commits to using long-term earnings from partnerships with industry leaders for PROS buybacks and distributing dividends from their holdings in listed companies as airdrops to PROS holders.
According to market information, Pharos opened at a price above $1.10 in its first hour on April 28, briefly reaching a fully diluted valuation of over $1.1 billion.