Pharos Network, a Layer 1 blockchain, recently announced an ambitious initiative called Native to Pharos which aims to allocate $10 million to support early-stage teams that are developing on-chain financial products. This program has gained backing from notable partners such as Hack VC, Draper Dragon, Lightspeed Faction, and Centrifuge. The initiative particularly focuses on builders who are creating decentralized exchanges, real-world asset integrated yield infrastructure, and prediction markets with an emphasis on ensuring high performance and compliance with industry regulations.
What is the goal of Native to Pharos? The primary aim of this initiative is to empower these builders while contributing to the growth of a thriving RealFi ecosystem. In a statement from the co-founder and CEO of Pharos, the endeavor is designed to provide comprehensive support, helping the next generation of tech leaders thrive in their ventures. The Pharos Incubator will deliver end-to-end assistance, which includes mentorship, access to technical resources, guidance for market entry, advice on fundraising, and insights into legal and financial arenas.
How does the Pharos Incubator plan to aid financial product developers? The incubator is built as a full-spectrum partnership model. It combines mentorship and technical support with strategies for market engagement and networking opportunities within the Pharos community. This collective approach aims to foster a collaborative environment where innovative minds can succeed.
As part of the initiative, the first cohort is set to kick off in Hong Kong through a series of hackathons and ecosystem events, enabling participants to engage directly with their peers and industry veterans. This approach not only allows for hands-on learning experiences but also for networking that could prove vital for future business growth.