Phantom Wallet Users Can Now Create Profiles and Connect with Friends
Phantom Wallet – Phantom, the popular non-custodial crypto wallet, has officially addressed rumors about a potential token airdrop associated with its upcoming social discovery feature. In a post on X (formerly Twitter) on January 3, the wallet provider clarified that it does not have plans to launch a token. This announcement was made in response to growing speculation within the crypto community, particularly following claims from users such as “Slim,” who suggested that tokens could be earned by users following others or gaining followers within the feature. Phantom made it clear that its focus remains on delivering an exciting social discovery experience, but without a token incentive attached.
New Social Discovery Feature to Enhance User Experience
Phantom’s new social discovery feature, which was first announced on December 19, is designed to offer users the ability to create profiles, connect with others, and manage privacy settings. Users will be able to add friends, set profiles to public, private, or invisible, giving them control over their interactions. The feature aims to foster a more engaging community within Phantom’s ecosystem. The decision to integrate social discovery comes as part of Phantom’s broader vision of enhancing its user experience across multiple blockchains.
Phantom Expands Blockchain Support, Integrates Sui
Another significant announcement for Phantom came on December 6 when the wallet provider revealed it would be integrating the Sui blockchain, making it the fourth blockchain to be supported on the platform after Bitcoin, Ethereum, and Solana. The integration of Sui is expected to roll out in early 2025, further expanding Phantom’s capabilities and appeal to a broader range of crypto users. The move to include Sui aligns with Phantom’s mission of providing a seamless, multi-chain experience for users.
Phantom’s Rapid Growth and Recent Challenges
Since its launch in 2021, Phantom has quickly become one of the most popular non-custodial wallets in the cryptocurrency space. By April 2023, the platform had reached 7 million monthly active users, solidifying its position as a leading player. Phantom gained further attention in November 2023 when it briefly became the second most downloaded app in the Apple App Store’s utilities section, thanks to the surging crypto market following Donald Trump’s presidential election victory.
However, not everything has been smooth sailing for Phantom in recent months. In a notable incident, the wallet’s developers were forced to release an emergency update for iPhone users after reports of some applications resetting, which caused users to be locked out of their wallets unless they remembered their recovery phrase. One affected user reported losing $600,000, highlighting the potential risks involved with digital wallets and emphasizing the importance of secure recovery methods.
Looking Ahead: Phantom’s Future Plans
Despite recent setbacks, Phantom continues to innovate and expand, with the integration of Sui and the introduction of its social discovery feature marking key milestones. As the company works to enhance its platform’s social capabilities, it remains focused on delivering value to users while maintaining security and privacy.
Phantom’s rapid growth and increasing number of features solidify its status as a leader in the crypto wallet space, but users must remain vigilant and stay updated on security measures to protect their digital assets.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
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