Phantom, the digital asset wallet, has denied rumors that it will distribute tokens through an airdrop to coincide with its upcoming social discovery feature launch. In a recent blog post on January 3rd, they made it clear that there are no plans for a token release at this time.
“But we’re incredibly excited about social discovery on Phantom and are actively working on ways to make it something everyone loves.”
On December 19th, Phantom introduced a fresh social exploration aspect in their platform. This new feature enables users to establish personal profiles, connect with other users as friends, and select from three different privacy options – public, private, or hidden.
Members of the cryptocurrency community, like user “Slim,” have suggested that individuals who use the new feature can accumulate tokens by following others and being followed themselves, sparking rumors about an upcoming token release.
On December 6th, it was announced that Phantom will incorporate the layer 1 blockchain Sui, becoming the fourth blockchain system that Phantom supports, following Bitcoin, Ethereum, and Solana networks.
The company said the integration would occur sometime in “early 2025.”
During this ongoing bull market, Phantom has emerged as a prominent choice among non-custodial cryptocurrency wallets, boasting an impressive 7 million monthly active users back in April.
On November 20th, Phantom temporarily ranked as the second-most downloaded app in the Utilities category of the Apple App Store, with cryptocurrency markets experiencing a surge following Donald Trump’s election as president.
However, not everything has run smoothly for Phantom in recent months.
Due to some iPhone users experiencing unexpected app resets and subsequent lockouts from their Phantom wallets, the developers felt compelled to release an immediate software upgrade, emphasizing the importance of remembering one’s recovery phrase to regain access.
One Phantom user reported losing around $600,000 at the time.
In the year 2021, the company known as Phantom was established in the vibrant city of San Francisco, California. This innovative venture was brought to life by its CEO, Brandon Millman, along with its Chief Product Officer, Chris Kalani, and Chief Technology Officer, Francesco Agost.
Phantom also provides non-custodial services for users looking to secure their non-fungible tokens.
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2025-01-05 07:10