Pharos launched an active Layer 1 and a native coin with staking and governance. Its legal disclosure also leaves system-contract administration and inflation judgment with the Foundation. The network's central question is how those two authorities meet in practice.
The March 2025 devnet and May testnet led to Atlantic testnet, where PHRS had no market value. Pacific Mainnet changed the identity: chain ID 1672, native PROS and a live RPC. Confusing PHRS with PROS turns test rewards into an imaginary mainnet asset.
Pharos burns EIP-1559 base fees. Multiple concurrent proposers and parallel execution prevent immediate per-transaction tip settlement, so priority fees accumulate and reach validators at epoch boundaries. PROS therefore connects usage to validators without becoming a claim on application revenue.
The genesis ledger places 40% with team and investors, 25% in Foundation and Labs treasuries, 20% in ecosystem/community, 10% in liquidity, 4% in node incentives and 1% in the airdrop. Twelve-month cliffs and 36-month releases constrain team and investor balances; other pools extend to 60 months.
Validators and delegators secure BFT Proof of Stake and earn issuance plus priority fees. Yet current documentation says automated slashing does not exist. Prolonged downtime, missed consensus votes and equivocation can instead reduce participation and fee eligibility or trigger a governance process.
The stated path starts at 0% for six months, rises to roughly 5% in month seven and decays 20% yearly toward 2.391%. The same document lets the Foundation adjust inflation each year using activity, TVL and network economics. Supply is therefore governed policy, not a one-billion hard cap.
One rights section says PROS holders approve upgrades and the issuer cannot change utility alone. The technical-risk section identifies Foundation-controlled Admin authority over RuleManager, ChainConfig and Staking. Without live addresses, quorum, timelocks and execution rules, neither “fully decentralized” nor “Foundation can do anything” is supported.
Pharos targets asset tokenization and compliance-aware finance, but PROS is the network coin. The issuer expressly denies equity, profit sharing, dividends and legal claims. Future collateral, restaking and RWA onboarding rewards depend on deployments, governance and program eligibility; they are not redemption rights embedded in every PROS.
The first public environment is expressly for testing, with assets carrying no real-world value.
Pharos begins public RWA-oriented application testing.
The official update identifies a one-billion test model and validator staking ahead of mainnet.
Chain ID 1672 launches with PROS as its native coin.
The filing identifies issuer, allocation, vesting, issuance, holder rights and Foundation system administration.
Last evidence review: 2026-09-05
Pharos is an EVM-compatible, Byzantine fault-tolerant Proof-of-Stake Layer 1 aimed at payments, DeFi and tokenized real-world assets. Pacific Mainnet uses chain ID 1672 and native coin PROS. Atlantic testnet's PHRS is a valueless test asset and is not the catalog coin.
Pharos TokenCo (BVI) Ltd., incorporated August 8, 2025, is the issuer; Pharos ServiceCo (BVI) Ltd. is the person seeking trading admission. The June 10, 2026 MiCAR whitepaper classifies PROS as an “other crypto-asset,” not an asset-referenced or e-money token.
Pharos argues that financial applications need throughput, predictable finality and compliance components without fragmenting execution and liquidity across separate rollups. Its answer combines parallel execution and pipelining with an EVM environment, a validator network and planned Special Processing Networks for specialized workloads.
The site markets RWA tokenization, stablecoins and ZK-KYC modules. Those labels describe infrastructure and target applications. Holding PROS neither owns an underlying bond or property nor proves that every advertised SPN, restaking or RWA utility is live.
PROS pays gas. Pharos implements EIP-1559-style base-fee burning and batches priority-fee payment to validators at epoch boundaries because multiple proposers contribute to blocks. Validators and delegators stake PROS for consensus; current validator documentation says automated slashing is not implemented, though governance may penalize misconduct and remove fee eligibility.
The genesis supply is 1,000,000,000 PROS. The MiCAR allocation table assigns 16% Foundation Treasury, 9% Labs Co Treasury, 20% team, 20% private investors, 20% ecosystem and community, 10% liquidity incentives, 4% node incentives and 1% airdrop. Team and investors have a 12-month cliff followed by 36-month linear release; treasury and incentive schedules run 36–60 months. This is genesis allocation, not a permanent cap: issuance is 0% for the first six months, about 5% annually from month seven, then described as decaying 20% per year toward 2.391%.
The rights disclosure says holders can propose and vote on upgrades, parameters and grants and says the issuer cannot change functions unilaterally. Elsewhere the same filing says RuleManager, ChainConfig and Staking are genesis system contracts administered through a Foundation-controlled Admin role, and that the Foundation adjusts inflation annually using network activity and TVL. The current public materials do not map Admin keys, upgrade thresholds, timelocks, governance quorum or emergency procedures well enough to resolve that tension.
PROS gives protocol utility, not company ownership, dividends, profit sharing, legal claims or redemption for fiat or an RWA. Ecosystem, liquidity and RWA-onboarding rewards depend on program rules. Access may also vary by platform and jurisdiction.
No. Official network docs identify PROS as the native coin of Pacific Mainnet, chain ID 1672. PHRS belongs to Atlantic testnet, chain ID 688689, and is not the market asset covered here.
It is the disclosed genesis supply, not a permanent maximum. The filing describes staking issuance after launch: 0% for six months, about 5% annually from month seven and later decay toward 2.391%, with annual Foundation adjustment.
The disclosure says holders may propose and vote on upgrades, parameters and ecosystem initiatives. It does not publish enough live detail about proposal thresholds, quorum, timelocks or execution to quantify practical control.
The MiCAR paper identifies Foundation-administered RuleManager, ChainConfig and Staking system contracts and says the Foundation may adjust inflation. A complete current Admin-key and emergency-control map was not published in the reviewed sources.
Not currently, according to validator documentation. Misconduct can degrade consensus participation, remove fee eligibility and trigger governance penalties, but no automated slashing mechanism is active.
No. The issuer says it carries no equity, dividends, profit share or legal claim, and does not by itself confer ownership or redemption of any tokenized real-world asset.
The base fee is burned. Priority fees are accumulated and paid to relevant validators at epoch boundaries because Pharos uses parallel execution and multiple concurrent proposers.
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