Previously, it was mentioned in an article that @ charos_network has been awarded by GCL New Energy（ http://0451.HK ）Regarding the investment subscription matter, when PROS logged into Coinbase TGE recently, this betting delivery agreement was officially triggered. There are two observations regarding this matter: 1) The betting delivery itself is very interesting and more complex than the general strategic investment structure. It is not a unilateral investment by GCL in Pharos, but a "two-way binding of currency and stocks". Specifically, Pharos subscribed to approximately 10% of the new Hong Kong stock of GCL at a discount of 15%, while GCL subscribed to Pharos' token equity in reverse at a valuation of $950 million, with both parties holding mutual shares. And, the PROS mainnet went online and opened with FDV reaching $1.1 billion, completing the first 50% delivery condition. The delivery also includes the cash payment from GCL to Pharos Treasury, which is approximately $12.37 million, which is a good additional cash inflow. But according to the betting agreement, the remaining delivery conditions must be safely triggered in the coming months, and PROS's FDV must remain at least $760 million or more, which poses significant challenges; 2) Why do GCL and Pharos have such a betting structure? In fact, there is a very direct demand for industrial synergy behind it. GCL has a large number of overseas new energy assets, including photovoltaic power stations, computing power nodes, energy storage facilities, and so on. These assets continue to generate cash flow, but cross-border circulation, income distribution, and ownership recognition rely solely on traditional monetary systems, which are slow, expensive, and opaque. Pharos' A2A Marketplace provides another solution, turning these physical facilities into independent agents on the chain to directly complete electricity trading, computing power scheduling, revenue distribution, and derive massive business opportunities, including Agenetic Payment. In this way, the data accumulated on the chain is not just pure DeFi transaction data, but has become the real operational data of global new energy facilities In addition, these machine skills data assets will gradually transform into Pharos' unique and difficult to replicate industry know-how, and give rise to a new data monetization model for enterprise level customers. In short, what GCL brings is not just funding, but continuous input of industrial resources and technological scenarios. This is the core of Pharos' focus on "Beyond Gas Economy" and "RealFI", and it is also its direct moat compared to other pure on chain projects; The above. The interest binding model of bidirectional binding between coins and stocks is actually the underlying pillar for the long-term value of projects to stand firm in the long run. After all, there are Hong Kong stock new energy leaders, industry leaders with physical assets and real cash flow needs standing behind it. This structure is rare in the entire cryptocurrency industry. And this model, which goes beyond the traditional pure gas cost economy, is essentially using real-world energy assets to support the on chain economy. Once it runs smoothly, it becomes the real value anchor of PROS, not just pure market sentiment.