Pharos PROS Launches with FDV Exceeding $1.1 Billion, Share Swap Conditions with GCL New Energy Basically Met

Odaily reported on April 30 that following the listing of its token PROS on the 28th, Pharos has met the valuation benchmark set during GCL Group's strategic investment. The preliminary conditions for the first batch of token-for-share swaps have been basically fulfilled, and both parties are currently going through the final regulatory procedures for this matter.

GCL Group is an industry leader ranked among the World's Top 500 Brands. Its subsidiary, GCL New Energy (451.HK), will engage in deep collaboration with Pharos. Subsequently, Pharos will leverage GCL's overseas new energy and computing power assets to build a global A2A decentralized trading market based on real-world assets. By accumulating industrial operational data, among other methods, Pharos will explore new business models beyond the traditional public chain profit model primarily reliant on gas fees.

The Pharos team has committed that the proceeds from collaboration with leading enterprises will be used for long-term PROS buybacks, and the dividends from held listed company shares will be distributed to PROS holders in the form of airdrops.

According to earlier market information, within the first hour of trading on April 28, the price of Pharos was above $1.1, with its short-term FDV exceeding $1.1 billion.