- Phantom Wallet debunks token launch rumors, focusing on improving token discovery and dApp for users.
- Phantom now supports Sui, improving functionality for its 7 million active users and 560 million on-chain transactions.
Phantom, a well-known non-custodial wallet in the Solana ecosystem, has reaffirmed its commitment to improving user experience while addressing floating concerns about a possible token launch. The corporation recently said in a statement that it does not intend to launch a token or perform an airdrop.
Phantom instead focuses on improving how users find new tokens and decentralized applications (dApps) through its platform.
We are thrilled with the enthusiasm of users to follow on Phantom!
It’s a big step for us to make cryptocurrencies more personal and user-friendly. By simplifying the way you share and discover with friends, we aim to dramatically improve the way users find new tokens and apps.
We saw…
— Phantom (@fantom) January 3, 2025
Phantom social tools: Enhancing experiences, not incentives
The rumor started from speculation on social media sites, where influencers speculated that Phantom’s launch of new social discovery tools would be linked to upcoming token incentives. These capabilities—such as the ability for users to follow others with custom usernames—were misinterpreted as a precursor to airdrops.
Phantom, meanwhile, has been adamant that these changes are only intended to improve the general user experience and that there are no accompanying token rewards.
Often surpassing even major rivals, Phantom’s creative tools and capabilities have positioned it as a major player in the crypto space. Especially in the US App Store, the wallet was previously ranked higher than Coinbase. Such benchmarks demonstrate Phantom’s ability to deliver value to its consumers by aggregating safety, utility and affordability.
Through several blockchains such as Solana, Ethereum and Polygonthe platform offers several operations, including crypto administration, token exchange, and NFT interactions.
In addition to improving usability, Phantom improves the capacity of its ecosystem. Like us before recordedthe wallet’s announcement of Sui blockchain support confirms its adaptability and future-oriented character.
Phantom continues to attract a growing user base while enabling them to easily negotiate the changing terrain of decentralized finance with seven million monthly active users and 560 million on-chain transactions to date.
