Pharos Mainnet Pre-Deposit Campaign Reaches $50M in Total Value Locked

Gate News, April 14 — Layer1 financial blockchain Pharos launched an RWA stablecoin pre-deposit campaign ahead of its mainnet launch, in partnership with a major CEX’s Web3 wallet.

The campaign offers a 100-day staking period with an annualized yield of 14-16%, backed by Pharos’ exclusive RWA assets and project subsidies. Users participating through the CEX wallet will receive exclusive airdrops.

The campaign saw strong demand: after a 24-hour whitelist round, the public round reached its staking cap within one hour. Total value locked has reached $50 million.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

Related Articles

Ether.fi launches an aWETH exit channel, with Aave fund outflows exceeding $16.2 billion

According to on-chain analyst Yujin’s monitoring data on April 23, the total deposits on the Aave platform have fallen from $45.8 billion before the KelpDAO rsETH exploit event to $29.6 billion. On the same day, Ether.fi posted an announcement on the X platform stating that its Liquid ETH vault has officially opened to accept aWETH deposits, providing an exit route for users who face liquidity constraints on the Aave platform.

MarketWhisper1m ago

Ronin Blockchain to Migrate to Ethereum Layer 2 on May 12, with 10-Hour Mainnet Downtime

Gate News message, April 23 — Ronin, a gaming blockchain, will migrate from an Ethereum sidechain to Ethereum Layer 2 on May 12. The migration will be triggered at block height 55,577,490 and will transition Ronin to OP Stack. The mainnet will experience approximately 10 hours of downtime, from 11 a

GateNews51m ago

MetaMask Co-founder Dan Finlay Departs Consensys After Over a Decade

Gate News message, April 23 — MetaMask co-founder Dan Finlay announced his departure from Consensys today after more than ten years with the company. Finlay cited burnout and the need to spend time with family as reasons for leaving. Finlay expressed enthusiasm about the Advanced Permissions

GateNews1h ago

Fluid Emerges as DeFi Alternative After KelpDAO Incident Drains $10B from Aave

Abstract: KelpDAO hit Aave; TVL fell from $26.3B to $16.4B. Fluid launched a WETH redemption enabling ETH-to-wstETH swaps as DeFi TVL declined; Aave still has the largest TVL and institutional backing.

GateNews3h ago

Circle Proposes Emergency Rate Overhaul for Aave's Frozen USDC Pool

Summary: Circle proposes an emergency Aave V3 USDC overhaul, lifting Slope 2 to ~40% to restore healthy utilization (target ~85%), with max rate rising to ~48%, arguing borrowers ignore rates; also suggests pausing the USDC risk oracle. Abstract: Circle has urged an emergency overhaul of Aave V3's USDC pool after four days at near-6% idle liquidity and 99.87% utilization following the KelpDAO exploit. The plan would immediately raise Slope 2 for USDC deposits from about 10% to 40%, followed by governance ratification of a 50% target within a week. The aim is to attract supply and restore balanced utilization, with a move to a higher max supply rate (about 48%) at full utilization. Liao argues current borrowers use USDC borrowing as a queue-bypass mechanism and are insensitive to current rates, making supply-focused incentives essential. The proposal also recommends pausing the USDC Risk Oracle due to past underperformance. Circle’s stance is notable because a stablecoin issuer is essentially saying the market for its asset on Aave is broken.

CryptoFrontier4h ago

ADA Price Outlook as Cardano Lands LSE Tokenized Deal

Key Insights Cardano tokenized a Hannover Re reinsurance product and listed it on the London Stock Exchange, expanding blockchain use in regulated institutional markets. ADA price holds within a descending wedge as support at $0.2400 remains intact while resistance near $0.2550 and $0.2824 l

CryptoNewsLand6h ago
Comment
0/400
No comments