PANews reported on March 24 that Pharos Network, a developer of L1 blockchain, announced on March 6 that its first public beta network (Public Devnet) was officially launched. The public beta network aims to provide developers with a public development and testing environment for experiments, deployment of smart contracts, performance benchmarking, and stress testing for mainnet deployment. The Pharos team said that the public beta network is only used for testing and development, and the assets in the network have no actual value and are not eligible for airdrops. Future plans include opening the faucet system, improving development tools and resources, and expanding service support.

Earlier news, L1 blockchain developer Pharos completed an $8 million seed round of financing, led by Lightspeed Faction and Hack VC .