PANews reported on November 9 that according to The Block, L1 blockchain developer Pharos has raised $8 million in seed funding, led by Lightspeed Faction and Hack VC, with SNZ Capital participating as a strategic investor. Other investors include Reforge, Dispersion Capital, Hash Global, Generative Ventures, MH Ventures, Zion and Chorus One. Pharos is building a new L1 blockchain specifically for fintech use cases such as real-time payments and real-world assets.