Phantom Denies Rumors of Token Airdrop as It Prepares to Integrate with Sui Network

Non-custodial crypto wallet Phantom has denied rumors that it will be having a token airdrop.

Last month, Phantom announced that it will be making the wallet more social by allowing 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 stated that 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 issued the statement as rumors spread that users will be rewarded with tokens for following other accounts on the platform.

“By making it easier to 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, making the smart contract platform the sixth blockchain after Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polygon (POL), and Base to be supported by Phantom.

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