One of the hardest decisions we’ve made as a team was to delay our VIP mint. After evaluating the market, the uncertainty, and the risk all of this would be for not only Pharos, but for you, the community, we decided to delay the mint and to alter the offering slightly. We think you’ll like our changes but welcome all feedback.

Top Changes of Note

• We’re collapsing the two NFTs into one: VIP, and adding rewards to that NFT to compensate.
• We’re adjusting the price to 0.1 ETH per VIP NFT.
• We’re going to create an ERC20 ($RO.Future) in order to begin fulfilling our payout promises immediately (read more on this one, it’s very important).
• We’ll be minting $RO closer to platform launch.
• $RO.Future will have a MINIMUM of a 2x value proposition to holders when $RO mints.

Collapsing to One NFT Mint

The team has decided to make some changes to our project to make it more accessible to everyone in this space. None of our utility will decrease, but the team has decided to increase it! We’ll mint only the VIP and increase the holder reward. There is no longer a “Founding Pass” planned. As mentioned, the price has been adjusted down to 0.1 ETH.

$RO

We decided to wait to fully mint $RO because the last thing we want is to flood the market with $RO with no coin utility. $RO will be released closer to the time of the platform launch. In the meantime, we will have a dashboard loaded with the amount of $RO that will be yours at the time of mint as well as a “stable coin” we will be releasing: $RO.Future.

$RO.Future

The name $RO.Future is the $RO that is yours but will come at a future date. $RO.Future can be exchanged at a later date, through Pharos, at a minimum of a 2X return (2 $RO for 1 $RO.Future). VIP passes can INCREASE that return! This creates an additional form of passive income for holders.

$RO.Future is temporary until $RO is minted. Please see the table below for the multiplier that you will earn on your $RO.Future:

We are releasing a multiplier of up to 5x on holders of the VIP pass. This multiplier will apply when the exchange window is opened for $RO.Future -> $RO. You’ll want to have 5 VIP passes before exchanging to maximize your investment.

VIP Mint

Minting for the VIP pass will be taking place 01/03/2023 for 0.1ETH. We will be having an Allowlist sale on the same date. By changing our minting price from 0.5ETH to 0.1ETH we lower the barrier of entry and allows us to fulfill our goal of building a community that supports the Pharos Platform.

What’s next?

Considering the scope of changes we’re making, The following web pages will be rebranded:

• Website (pharosvip.co) We will be starting from scratch and building a new page.
• Twitter Messaging
• Discord server

We will be keeping @everyone updated throughout the week with more ideas and changes that we have! Thank you for your patience, participation, understanding, and encouragement. We can’t do this without you!