Phantom's official statement: no token issuance plan
The digital asset wallet Phantom recently issued an official statement, debunking rumors that its upcoming social exploration feature would be accompanied by a token airdrop. This statement directly addressed speculation in the community regarding Phantom's possible token issuance, particularly related to its new social feature. Phantom emphasized on January 4 on X: 'We have seen some speculation about airdrops related to this feature, so to clarify: we have no plans to issue any tokens.' This statement explicitly denied rumors in the market about Phantom's upcoming token issuance, bringing an end to community speculation.
Image source: X Phantom posted clarifying no token issuance plan, denying airdrop rumors
Nevertheless, Phantom also stated: 'But we are very excited about the social exploration feature on Phantom and are actively working to make it something everyone will love.' This indicates that Phantom will continue to focus on improving its products and user experience rather than issuing tokens.
Phantom announced a new social exploration feature on December 19 that will allow users to create profiles, add other users as friends, and choose between three levels of profile privacy (public, private, and hidden). Some members of the cryptocurrency community claimed that users of the new feature could earn tokens by following others and being followed, which fueled speculation about token issuance. However, Phantom's official statement is undoubtedly a strong rebuttal to these speculations.
Image source: X Phantom's new social exploration feature will allow users to create profiles
Phantom focuses on product development and blockchain integration
In addition to debunking the token issuance rumors, Phantom has also made progress in product development and blockchain integration. On December 5, Phantom announced that it would integrate the Layer1 blockchain Sui, making it the fourth blockchain supported by Phantom after Bitcoin, Ethereum, and Solana. The company stated that the integration would occur sometime in 'early 2025'.
Image source: X Phantom announced the integration of the Layer1 blockchain Sui
Jameel Khalfan, Global Ecosystem Lead at Sui Foundation, stated: 'Phantom wallet is very selective about the chains it supports, and we are honored to be included in this prestigious group.' Phantom has also been reluctant to announce the official release date for the Sui integration, but its official X has consistently hinted that the feature is 'coming soon.' The last time Phantom added support for a new network was in November, when it added the Ethereum Layer2 network Base to its list of supported blockchains.
Phantom has become one of the leading non-custodial cryptocurrency wallets in this bull market cycle, reporting 7 million monthly active users last April. On November 20, following Trump's victory in the presidential election, as the cryptocurrency market continued to soar, Phantom briefly became the second most popular app in the utilities category of the Apple App Store.
However, Phantom has not had a smooth journey in recent months. Following reports that some iPhone users' apps were reset, making it impossible for them to log into their wallets unless they remembered their recovery phrases, the developers behind the Phantom wallet were forced to release an emergency update for iPhone users. One Phantom user reported a loss of around $600,000 at that time.
Image source: X Phantom was forced to release an emergency update for iPhone users due to app anomalies
Phantom was founded in 2021 in San Francisco, California, by CEO Brandon Millman, Chief Product Officer Chris Kalani, and Chief Technology Officer Francesco Agost. Phantom also offers non-custodial services for users looking to protect their non-fungible tokens. Through this official statement, Phantom hopes to quell the baseless rumors in the market and refocus on the continuous improvement and development of its products.
'KOL stop spreading rumors! Phantom wallet: no token issuance plan, will focus on improving products.' This article was first published on 'Crypto City'
