Crypto wallet Phantom quashes airdrop rumors after social feature launch, Sui support announcement

Crypto wallet Phantom dispelled rumors of an incoming airdrop in a message posted to its X account on Friday, after some X users speculated that the platform's recent social feature launch could lead to a token launch.

"We do not have any plans to launch a token," Phantom wrote on X , in a post that also cheered the response to its recent launch of social features. 

Phantom launched new social features in December that allow users to create a profile, add other users as friends, and choose between three profile privacy levels: public, private, and invisible. So far, usernames are only supported on Phantom's mobile app, and not its popular Chrome extension, though Phantom teased that extension support would be coming soon. 

Though some users speculated that following users or gaining followers could lead to a payout through an airdrop, and some analysts have speculated that Phantom might drop a token in 2025, the recent announcement appears to quash those hopes. 

Phantom announces Sui integration

Phantom also announced in December that it plans on integrating Layer 1 blockchain network Sui as its fourth L1, alongside Bitcoin, Ethereum, and Solana, the blockchain on which Phantom got its start.

“Phantom Wallet is selective about which chains it supports, and we are proud to now be included among this notable group," said Sui Foundation global head of ecosystem Jameel Khalfan. 

Phantom has also been reticent to announce an official launch date for the Sui integration, but its X account has repeatedly teased that the feature is coming "soon." Phantom last added support for a new network in November, adding Ethereum Layer 2 network Base to its roster of supported blockchains.