Pharos Makes Strategic Investment in GCL New Energy, Utilizing DAT Framework to Convert Energy Data into On-Chain Assets

Odaily News: Pharos, a Layer 1 public chain project building inclusive RealFi, announced a strategic partnership with GCL New Energy (00451.HK). Pharos will subscribe to 186.5 million new shares issued by GCL New Energy by providing future equity and token subscription rights, with a total value of nearly HKD 193 million. Pharos will grant GCL New Energy future equity rights to acquire Pharos shares under specific conditions, as well as the right to purchase digital tokens issued by Pharos at an agreed price.

It is reported that Pharos is a Layer 1 public chain company building inclusive RealFi. This collaboration will leverage Pharos's Data Asset Token (DAT) framework to transform real-world energy data into standardized financial assets on the blockchain, exploring the application of Web3 technology in the new energy sector.