TechFlow News, April 30: Pharos officially announced that its token PROS—launched on April 28—has already met the valuation benchmark set during GCL Group’s strategic investment. The preliminary conditions for the first batch of token-for-equity settlement have been largely fulfilled, and both parties are now completing the final regulatory procedures.
GCL Group is an industry leader ranked among the World Brand 500. Its subsidiary GCL New Energy (451.HK) will engage in deep collaboration with Pharos. Going forward, Pharos will leverage GCL’s overseas new-energy and computing-power assets to build a global, decentralized A2A (Asset-to-Asset) trading market anchored in real-world assets. Additionally, by accumulating operational data from industrial activities, Pharos aims to explore new business models beyond the traditional public-chain revenue model centered on gas fees.
The Pharos team has committed to using long-term proceeds from collaborations with industry-leading enterprises to repurchase PROS tokens, and to distributing dividends from its listed-company equity holdings to PROS holders via airdrops.
According to prior market information, PROS opened at over $1.10 in its first hour of trading on April 28, briefly achieving a fully diluted valuation (FDV) exceeding $1.1 billion.
