Popular Crypto Wallet Phantom Dispels Airdrop Rumors, Says No Plans for Creating Its Own Token

Non-custodial crypto wallet Phantom just issued a statement denying rumors that it will have a token airdrop.

Last month, Phantom announced that it would be making the wallet more social by enabling users to customize their profile and search for and follow friends. 

In a post on social media platform X, the popular wallet with about seven million monthly active users says the rollout of the social discovery feature will not involve a token airdrop, and that it’s not looking to issue its own coin.

Phantom issues the statement amid rumors that users will receive tokens for following other accounts on the platform.

“By simplifying how you share and discover with friends, we aim to dramatically improve how users find new tokens and apps.

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. But we’re incredibly excited about social discovery on Phantom and are actively working on ways to make it something everyone loves.”

The wallet also recently announced that it will be integrating with the Sui Network early this year to make the smart contract platform the sixth blockchain after Bitcoin (BTC), Ethereum (ETH) and Solana (SOL), Polygon (POL) and Base to be supported by Phantom.

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Featured Image: Shutterstock/GarryKillian/Nikelser Kate