US crypto exchange Kraken has listed PROS, the native token of Layer 1 blockchain project Pharos Network, with spot trading live as of Monday, the exchange’s blog post confirmed.
Funding and trading are available now, but Kraken said access via its mobile app and Instant Buy feature will only open once liquidity conditions are met, meaning enough buyers and sellers need to be active for orders to match efficiently. Geographic restrictions may also apply.
Kraken described Pharos as a Layer 1 designed to serve as financial-grade infrastructure where tokenized assets, stablecoins and decentralized applications operate within a single programmable network. The protocol features AsyncBFT consensus, a dual virtual machine environment supporting both EVM and WASM, and what Pharos calls Special Processing Networks, or SPNs, which allow application-specific chains to plug into the mainnet while running independently.
Following these developments in April, the project announced a $44 million Series A on April 8, bringing total funding to $52 million, and published its tokenomics shortly after, disclosing a genesis supply of 1 billion PROS tokens.
