Phantom Wallet denies rumors of token issuance and airdrop

Phantom Wallet's new social features have led many users to speculate about an upcoming airdrop. Phantom has officially addressed these rumors.

Rumors of an airdrop stemmed from Phantom's launch of new social networking features in December 2024.

Specifically, Phantom users can now create personal profiles, make friends, and interact directly within the app. Many believe this is a stepping stone for Phantom to launch its own token and conduct an airdrop for users who actively engage on the platform. Some analysts even predicted that Phantom might airdrop tokens in 2025.

However, Phantom quickly quashed these hopes. On its official X (formerly Twitter) page, Phantom confirmed that they have no plans to release a token. The company also expressed excitement about the positive feedback from users regarding the new social networking features.

" We have no plans to issue a token. "

-- Phantom shared on X. --

Currently, Phantom's social networking feature is only available on the mobile app. Users can customize their profiles in three modes: public, private, and hidden. Phantom has announced that this feature will soon be updated on the Chrome extension, which is the wallet's most popular platform.

In addition to launching the social networking feature, Phantom also announced the integration of the layer 1 blockchain Sui Network into its ecosystem. This is the fourth blockchain supported by Phantom, following Bitcoin, Ethereum, and Solana (the platform Phantom integrated first).

"Phantom wallet is very selective about the blockchains it supports, and we are proud to be part of this notable group," said Jameel Khalfan, Head of Global Ecosystem at the Sui Foundation.

Phantom has not disclosed an official launch date for the Sui integration, but it is likely that this feature will be rolled out soon. Earlier, in November 2024, Phantom added support for Ethereum's layer 2 network, Base.

Although Phantom has officially denied the airdrop rumors and confirmed that there are no plans to issue a token, some users remain skeptical. Could this be a "smokescreen" strategy by Phantom to avoid attracting attention before the official token launch?

In the past, several projects initially denied plans to release a token, only to surprise the community with an airdrop or token sale later.

A prime example is Uniswap – the leading decentralized exchange on Ethereum – which initially did not have its own token. However, in September 2020, Uniswap unexpectedly airdropped the UNI token to users who had previously interacted with the platform.

Another case is 1inch – a decentralized transaction aggregator. 1inch also claimed it had no plans to issue a token, but in December 2020, it launched the 1INCH token and airdropped it to users.

These examples show that it is entirely possible for blockchain projects to change strategies and release tokens. Therefore, even though Phantom has denied the rumors, there is still some doubt about the possibility of Phantom launching a token in the future.

$FTM

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