The onboarding process associated with Web3 presents an ongoing challenge in that it is the biggest barrier to mass acceptance of blockchain technology. While financial institutions are increasingly adopting Real World Assets (RWA) and RealFi, many users are still deterred by technical hurdles posed by seed phrases, gas fees, and complex wallet management systems. To remove some of these technological barriers, Pharos Network announced a partnership with Topnod. Topnod will be the official wallet partner of Pharos Network for the upcoming launch of Pharos Mainnet.
Streamline your RealFi onboarding experience
The main goal of this partnership is to create a “Web2-native” user experience while offering users the opportunity to onboard into the decentralized world via Topnod’s infrastructure. This will enable Pharos to develop a frictionless onboarding experience in terms of simplicity and ease of use similar to modern fintech applications.
This high level of access and ease of use is critical for the emerging Real Financial (RealFi) market to add real economic activity and lending to the blockchain. The Topnod platform is designed to create connections between devices and has numerous options for trading across different platforms. As a result, users will have a seamless experience when accessing RWA Market via their smartphone or computer.
Post-TGE support and on-chain asset distribution
According to the announcement, the partnership goes beyond a typical technology integration. Topnod is expected to play a key role in the development of the Pharos ecosystem after the Token Generation Event (TGE). More specifically, Topnod will be responsible for conducting post-TGE token airdrops across the Pharos ecosystem and will oversee the direct on-chain distribution of all Pharos assets.
Pharos’ strategic alignment demonstrates a focus on long-term sustainability, rather than just generating short-term buzz. Early collaboration with strong wallet partners has enabled Pharos to immediately provide secure, high-performance access to its community. This allows users to interact with native assets as soon as they are released into circulation. This advanced approach to distributing assets will be a model that many layer 1 networks will emulate to maximize user retention post-launch.
Wider context – RWA and driving mass adoption
Pharos sits at the intersection of two major movements currently evolving within the crypto ecosystem. That means layer 1 scalability and real world assets (RWA) being tokenized or digitized. Boston Consulting Group (BCG) has released multiple studies showing that the total market value of tokenized assets will be approximately $16 trillion by 2030.
The Pharos experience is designed to provide end users with a seamless and enjoyable experience. This ensures that users are unaware of the underlying “plumbing” running within the Topnod infrastructure. This infrastructure enables seamless advanced financial features and transactions on the platform, making it accessible to users without the need for blockchain or cryptocurrency expertise.
Pharos’ user experience is very much in line with the approach utilized in gaming and sports. These industries are developing sophisticated platforms that enable seamless experiences without requiring users to understand the underlying technology or infrastructure.
conclusion
With Pharos Mainnet launching soon, Topnod’s partnership with Pharos sends a strong message to both developers and investors that Pharos is focused on a user-centric design approach. By removing the “tax of entry” associated with technical complexity, Pharos and Topnod are doing more than just creating a new wallet. They are providing a path to the future of RealFi and on-chain RWA for the upcoming wave of global users.
