Phantom denies token rumors post-new feature announcement

by Giorgi Kostiuk

2 years ago

The popular wallet Phantom has refuted rumors of an impending token launch related to its new social discovery feature.

New Feature Announcement and Token Rumors

Phantom has officially stated it does not plan to launch a token, despite rumors following the announcement of its social discovery feature. This feature will enable users to create profiles, add friends, and select privacy levels. Some community members, like X user 'Slim', speculated users would earn tokens by gaining followers, sparking token launch rumors.

Integration of Sui and Expanded Capabilities

In December, Phantom announced it would integrate with the layer 1 blockchain Sui, making it the fourth blockchain the platform supports, along with Bitcoin, Ethereum, and Solana. The integration is expected to happen in early 2025.

Phantom's Background and Issues

Founded in 2021 in San Francisco, Phantom has faced challenges, including iOS user locks due to an update, necessitating an urgent fix. One user reported losing around $600,000. Despite setbacks, Phantom continues to expand, offering non-custodial crypto and NFT storage services.

Amid rumors, Phantom remains focused on developing its services and solidifying its position in the crypto wallet market.

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