Pharos Network makes strategic investment in Faroo via new incubator

Pharos Network (PROS), a Layer 1 blockchain specializing in real-world asset (RWA) tokenization and artificial intelligence (AI), announced on June 29 that it has selected Faroo as the first project for its incubation program. Faroo will receive funding and ecosystem support from Pharos at a $10 million valuation, though the specific investment amount was not disclosed. Concurrently, Faroo is launching an RWA hybrid vault, introducing a new revenue model that provides staking rewards and RWA-generated profits to PROS token holders. The project is built on the SLPx module of Bifrost (BNC), a cross-chain staking infrastructure, which provides it with Layer 1-level security and interoperability.