On May 16, it was announced that Pharos Network, a next-generation Layer 1 public blockchain focused on Real World Assets (RWA), has officially launched its public Testnet. Pharos Network focuses on institutional-level RWA application scenarios and enterprise-level Decentralized Finance needs, aiming to solve the pain points and difficulties for traditional institutions entering Web3 by building leading modular infrastructure, creating an efficient and low-cost Payment Network, and promoting the large-scale deployment of decentralized applications and the expansion of tokenization asset scenarios.

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