L1 Public chain Pharos has received investment subscription from Hong Kong listed company GCL-Poly Energy, with a valuation of nearly 1 billion USD

High-performance parallel Layer 1 public chain Pharos announced a new round of capital cooperation upgrade with Hong Kong Stock Exchange listed company GCL-Poly Energy, with GCL-Poly Energy completing an investment subscription in Pharos at a valuation of nearly $1 billion.

This investment delivery stems from the preliminary announcement released by GCL-Poly Energy and was officially finalized after completing the regulatory disclosure procedures required by the Hong Kong Stock Exchange. The compliance framework is based on the information disclosure standards of Hong Kong listed companies. The two parties will collaborate on scenarios such as the tokenization of new energy assets, distributed energy trading, and carbon footprint tracking, promoting the large-scale implementation of real-world assets (RWA). Pharos's underlying architecture is EVM compatible, with the test network processing over 20,000 transactions per second (TPS) and supporting sub-second transaction confirmations. Pharos co-founder and CEO Wish Wu stated that this cooperation aims to create a standard model for integrating Web3 technology into the physical industry, and the nearly $1 billion valuation reflects the market's recognition of its technological value.