Pharos Network’s Axil Prime Credit Vault, launched with R25 and Axil on July 15, pulled in $45.39 million before its pre-deposit window closed, against a $100 million USDC cap and a target annualized yield of about 14.3%. The product went live across Binance Wallet, TopNod, OKX Wallet, Bitget Wallet and KuCoin Wallet, with Binance Wallet adding $300,000 in PROS incentives. But the launch also collided with the redemption window for an earlier Pharos TGE pre-deposit vault, prompting complaints from users who were used to DeFi-style instant exits and said they had missed the withdrawal deadline. On July 23, Pharos said users who had submitted redemption requests on time had received full principal and interest, while funds that missed the window were automatically rolled into the next three-month cycle and continued earning 14% APY in USDC under the preset rules. The episode has become a case study in a broader RWA tension: low entry thresholds can bring retail users in, but that does not make the underlying assets liquid. In APC’s case, the yield is tied to emerging-market consumer credit rather than mostly token emissions, while the trade-off is a longer lockup and a redemption process shaped by offchain credit assets, licensed fund managers and traditional finance settlement timelines.

Market attention on July 29 centered on a mix of crypto, policy and tech developments. SK hynix reported second-quarter operating profit of KRW 60.5 trillion and revenue of KRW 79 trillion, both below market expectations, while saying DRAM average selling prices rose about 30% from the first quarter and that HBM4 supply will expand in the second half. In Washington, Senate Republicans are trying to move the Clarity Act to a procedural vote before the August recess, though the bill still faces a tight legislative calendar, internal Republican hesitation and Democratic demands tied to ethics provisions and limits on crypto-related benefits for Donald Trump’s family. Coinbase CEO Brian Armstrong publicly urged the Senate to advance the bill, describing it as a bipartisan framework for consumer protection and federal oversight of digital assets. In crypto markets, Solana is expected to raise its mainnet block compute limit from 60 million CU to 100 million CU through SIMD-0286 at the start of Epoch 1009, a roughly 66% increase. trade.xyz said it would fully compensate liquidation losses linked to an abnormal SKHYNIX mark price event on July 27, while Hyperliquid co-founder iliensinc said the relevant perpetual market was deployed and operated by the XYZ team. Elsewhere, Elon Musk’s fortune has fallen by about $650 billion since SpaceX peaked in June but still remains above $700 billion, according to the report. The day’s roundup also included Korean market regulation moves, Amazon’s internal AI model overhaul, Apple’s brief move above a $5 trillion valuation, several crypto fundraising announcements and project updates from 1inch, Lighter and Across Protocol.

July 28 brought a dense mix of crypto market moves, semiconductor headlines, AI developments, and regulatory updates. In equities tied to China’s chip sector, CXMT posted a 465.82% gain on its first trading day, with turnover topping RMB 140 billion and market capitalization reaching RMB 3.28 trillion. Separate reporting cited by The Information said a Shanghai state-backed company has started mass production of self-developed DUV lithography manufacturing equipment, with output planned at around five units in 2026 and about 20 in 2027; SMIC, Hua Hong Semiconductor, and CXMT were named as intended customers. In crypto, most of the highest-volume CEX tokens were down over the past 24 hours, while AEON led the OKX gainers list with an 84.28% rise. Hyperliquid data around the CXMT IPO drew attention after Allium said pre-listing volume reached $17.8 million and that 96% of smart-money accounts had established profitable shorts before the open. Elsewhere, Strategy disclosed its first buyback of Stretch STRC shares under its digital credit securities repurchase plan, and Triple-A’s reported exploit losses expanded to $11.8 million. On policy, BlackRock backed the CLARITY Act, but the U.S. Senate temporarily set the bill aside, while lawmakers in Japan called for easing the country’s 2x crypto leverage cap.

Crypto markets saw another mixed 24-hour session, with major exchange volume leaders mostly in the red while a handful of smaller tokens posted strong gains. BTC fell 1.06%, ETH slipped 0.44%, SOL lost 1.12%, and RE stood out with a 15.6% rise among the most actively traded names. OKX’s top gainers list was led by ZAMA, PROS, and RE, while msx.com’s crypto-linked stock leaderboard featured SMCI.M, SKHY.M, and TSLQ.M. On-chain meme activity tracked by GMGN centered heavily on Robinhood Chain. The broader news flow was equally busy. U.S. President Donald Trump said the federal government is expected to face a shutdown in September as Republicans and Democrats remain split on spending priorities. Samsung Electronics said at Galaxy Unpacked 2026 that Samsung Wallet will add stablecoin support and combine payments, rewards, and digital assets in one service. Kraken parent Payward is expanding xStocks beyond the U.S. by bringing equities from Hong Kong, the U.K., South Korea, and other markets on-chain. Other developments included a reported update on the CLARITY Act, the U.K.’s plan for a tokenized sovereign bond before early 2027, projections for crypto’s economic contribution to the U.S. in 2026, Japan’s possible launch of a Bitcoin ETF by 2028, and comments from Grayscale’s Zach Pandl on whether Bitcoin may already have bottomed.

Pharos network transitions to mainnet with airdrop window closing April 25. $PROS token claims open April 28, Coinbase listing confirmed. Community backlash over narrow eligibility criteria.

Pharos Network has published its first PROS tokenomics plan and opened a public sale before mainnet. Genesis supply is 1 billion tokens, staking inflation stays at 0% for six months, and token distribution begins on April 28, while exchange listing details remain undisclosed.

Echo’s public token sale platform Sonar is drawing fresh attention after the source article said 95% of projects that completed a Sonar Sale eventually listed on Coinbase. The piece points to several 2026 examples, including Fluent, Pharos, Arcium and Nexus, and argues that these deals shared similar traits: strong backing, a compliance-heavy profile and large post-launch returns. The latest project under that lens is TownSquare (TOWN). According to the source material, TownSquare is the first Sonar Sale project on Monad, had its token sale post reposted by Monad’s official social account, and plans to go live on Base and Aerodrome on the first day of its token generation event. The article also says the sale passed 50% of its fundraising target within 48 hours and that a related Polymarket market showed an 85% probability for the sale to be oversubscribed by more than $1 million. The original article frames those signals as reasons TOWN is being compared with earlier Sonar projects that later reached Coinbase, while also noting that Coinbase has never promised a Sonar project will be listed and that past patterns do not guarantee future results.

OKX has rolled out standalone prize pools for the closing stage of its World Cup prediction campaign, according to an official update cited by Odaily. The newly added pools cover both the third-place match and the final. The third-place match between France and England has its own dedicated pool, while the final between Argentina and Spain has also gone live with a separate pool. Both prize pools are sponsored by Pharos. Combined, they total 375,000 PROS, with an estimated value of about 150,000 U. OKX also said that, as the World Cup enters its final stage, the campaign’s full-period prize pool will move into settlement after the tournament ends.