Pharos Real-World Assets Blockchain Sees TVL Jump 768% in One Week

Pharos, a blockchain focused on real-world assets (RWAs), has experienced rapid growth in its decentralized finance ecosystem. The total value locked (TVL) on the network surged over eightfold in just one week, reaching $7.67 million as of July 29, according to DefiLlama data.

This increase represents a 768% jump from the previous week and an 862% rise from the month prior. The growth is largely attributed to the DeFi lending protocol Morpho. However, attention is now turning to whether the influx of liquidity can support broader DeFi strategies using RWA tokens.

Pharos was founded by former executives from Ant Group, a fintech affiliate of Chinese e-commerce company Alibaba. The project's mainnet, Pacific Ocean, launched on April 28 alongside its native token, PROS. Pharos aims to unify RWA liquidity across multiple platforms and make it easier for institutions and retail investors to issue, trade, and borrow against tokenized assets.

The project raised $52 million before the mainnet launch, with investors including Sumitomo Corp.'s venture investment arm and Chainlink. Pharos has added features such as Special Processing Networks (SPNs), which allow financial institutions to build separate blockchain environments tailored to their operations.