Photonic Bitcoin is part of the three Heavyhash scam projects.

1. OBTC
2. PBTC
3. Kaspanet

The devs filled the OBTC/PBTC chains with FPGA's and mined in zergpool autoexchanging into BTC. OBTC died when 2016 block difficulty got stuck high, with zero development since launch.

Their other side project Photonic Bitcoin is also dead now, as there they kept FPGAs until the price in exbitron hit rock bottom (they have now left), with no development after a week from launch.

Their third project Kaspanet is currently being mined with FPGAs and it will hit exchanges soon, and then it will be dumped to rock bottom.

A fourth project qPoW seems to be underway https://github.com/PoWx-Org/qPoW

I expect it to also join Exbitron, and be entirely dumped.

These people created Heavyhash FPGAs already since 2020 and with the goal of doing a PoW rugpull, by owning the network with much more efficient hardware and dumping all coins.