Phantom Wallet Quashes Airdrop Hopes, Confirms No Token Launch

Phantom wallet recently put rumors to rest about a potential token airdrop. On January 3, the team took to X to clarify that no plans exist for a token launch. These rumors circulated after Phantom announced a new social discovery feature. This feature lets users create profiles, add friends, and choose privacy settings.

Phantom Denies Airdrop Rumors, Focuses on New Feature

On December 19, Phantom introduced its social discovery feature. This allows users to set up profiles and manage visibility. There are three privacy levels: public, private, and invisible. 

Some users, like “Slim,” believed that tokens could be earned through following others or gaining followers. This sparked rumors of an upcoming token launch. Phantom responded quickly, confirming no such plans exist. 

The company reassured users, emphasizing that the feature is purely social, with no rewards tied to tokens. Phantom’s prompt response helped calm the growing excitement.

Phantom’s Expansion and Challenges

Despite this confusion, Phantom continues to grow. On December 6, Phantom announced integration with the Sui blockchain. This makes Sui the fourth blockchain supported, joining Bitcoin, Ethereum, and Solana. 

Phantom has seen impressive growth, too. By April 2024, the wallet reached 7 million active users. During a strong crypto market rally last November, Phantom briefly became the second most popular app in Apple’s utilities section. Still, Phantom has faced challenges.

Founded in 2021 by Brandon Millman, Chris Kalani, and Francesco Agost, Phantom has become a key player in the crypto space. The wallet also supports NFT storage, appealing to a wide range of users.