As the crypto space continues to evolve, rumors have been circulating about Phantom’s plans for a token airdrop in conjunction with its highly-anticipated social discovery feature. However, the non-custodial digital asset wallet provider has taken to X (formerly Twitter) to quash these claims.
Airdrop Rumors Debunked
In a Jan. 3 post on X, Phantom addressed the speculation surrounding an airdrop tied to the social discovery feature, stating:
"We’ve seen some speculation about an airdrop tied to this feature, so to clarify: we do not have any plans to launch a token."
The company emphasized its excitement for the new social discovery feature, which is set to revolutionize user interaction within the Phantom ecosystem. Despite the lack of a token airdrop, users can still expect a seamless and engaging experience with the introduction of this innovative feature.
Social Discovery Feature: A Game-Changer for Phantom Users
Announced on Dec. 19, the social discovery feature will enable users to create a profile, connect with other users as friends, and choose from three profile privacy levels: public, private, and invisible. This exciting new development has sparked interest within the crypto community, with some members speculating about potential token rewards for participating in this new aspect of the Phantom ecosystem.
However, according to Phantom, there will be no token launch tied to this feature. Despite this, users can still look forward to enjoying a more engaging and interactive experience on the platform.
Integration of Layer 1 Blockchain Suion: A Major Milestone for Phantom
In related news, Phantom has announced its integration with layer 1 blockchain Suion, which is expected to occur in early 2025. This development marks a significant milestone for the company, as it becomes one of the few non-custodial wallets to support multiple blockchains.
The integration of Suion will bring added convenience and flexibility to users, allowing them to easily manage their digital assets across different networks. With this expansion, Phantom solidifies its position as a leading player in the non-custodial crypto wallet space.
Growth and Recognition: A Testament to Phantom’s Success
Phantom has experienced significant growth over the past year, with 7 million monthly active users reported last April. The company briefly became the second most popular application in the Apple App Store’s utilities section on November 20, a testament to its increasing popularity among crypto enthusiasts.
However, not all has been smooth sailing for Phantom in recent months. Developers were forced to issue an emergency update for iPhone users after reports of applications resetting, locking users out of their wallets unless they remembered their recovery phrase.
Brief History and Founding
Phantom was founded in 2021 by CEO Brandon Millman, Chief Product Officer Chris Kalani, and Chief Technology Officer Francesco Agost. The company has since established itself as a leading provider of non-custodial services for digital assets, including NFTs.
With its commitment to user security and innovative features like social discovery, Phantom continues to push the boundaries of what is possible in the crypto space. As the industry evolves, it will be exciting to see how this pioneering company adapts and grows alongside the ever-changing landscape.
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