Rumours and conjectures are common when a new feature or enhancement is introduced in the cryptocurrency world enhancement rumours. Phantom, a well-known non-custodial crypto wallet, had to cope with rumours of a potential token giveaway connected to a new feature it was offering. Crypto fans started to guess that people could earn tokens by getting more followers through Phantom's new social discovery tool. But Phantom has said this isn't true. In this piece, we'll explain what happened, what Phantom said, and what users can look forward to.
What is Phantom Wallet?
phantom is a type of Bitcoin wallet that does not hold your digital assets. It is a safe place where you can keep your NFTs and cryptocurrencies instead. In 2021, the startup was established and became popular in the cryptocurrency market. It is popular for its strong security and user-friendliness also Phantom works with several blockchains, including Bitcoin, Ethereum, and Solana.
Phantom announced the social discovery feature
December 19. Phantom launched a "social discovery" feature. Using this feature, users can create a personal profile within their Phantom wallet. They may:
Create a profile: Create your digital identity in the wallet.
Add friends: Connect with other users, building a network within the Phantom ecosystem.
Choose privacy levels: There are three privacy options public, private, or invisible.
This feature is set to improve user experience and facilitate community building within the wallet, but this has nothing to do with any form of airdrop or rewards in terms of tokens, although some rumours hinted at this earlier.
The statement!
The social discovery feature has created many speculations among a number of members of the cryptocurrency world. A popular notion was that Phantom would give tokens to users who engage with others or get followers. In this speculation, it was supposed that users might be able to get Phantom tokens if they followed other users and got follows in return.
Social media quickly picked up on this rumour, particularly on X (formerly Twitter). One user, "Slim," pointed out that this new social feature could compensate users in tokens. Phantom, however soon dispelled these misconceptions.
On January 3, Phantom took to social media to dispel the rumours.
The company, in an official post, said the following:
“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.”
Phantom said it made clear there was no airdrop or token reward associated with the social discovery feature. The company assure its users that the focus is improving the social aspects of the wallet, making it more engaging and user-friendly.
Next step for Phantom
Phantom is not only concentrating on social features but The wallet provider also announced in December that it would integrate the Sui blockchain into its platform. This integration will add Sui to the list of supported blockchains, which already include Bitcoin, Ethereum, and Solana. This action shows Phantom's commitment to continuing to grow and lead the way in the constantly progressing in cryptocurrency market.
It is expected to open up more options and flexibility for Phantom users, especially in decentralized finance and other blockchain-related services, once it starts interacting with Sui in early 2025.
In general, Even though no recent rumours exist about the airdrop of a new token from Phantom, the continued growth and innovative developments in this firm suggest the value that users receive will continue to increase. As an old timer or newcomer in cryptocurrency, keep track of what is happening at Phantom with their wallet, especially what's going on with its upcoming features: the social discovery feature and its ability to interact with the Sui blockchain.
If you want to check out Phantom's features, now is the time to download the wallet and take off into the cryptocurrency world. And while Phantom is further refining and perfecting the user experience, stay tuned for news and updates.
