Phantom Wallet Denies Token Airdrop Rumors

The speculation arose when some in the crypto community thought users could earn tokens by gaining followers.

On January 3, the Phantom wallet took to X to set the record straight. They said, “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 Clears Up Token Airdrop Rumors

Despite the rumors, Phantom emphasized their excitement about the social discovery feature. They said that they were “actively working on ways to make it something everyone loves.”

We’re thrilled by the enthusiasm for following users on Phantom!

It’s a huge step for us toward making crypto more personal and user-friendly. By simplifying how you share and discover with friends, we aim to dramatically improve how users find new tokens and apps.

We’ve seen…

— Phantom (@phantom) January 3, 2025

The rumors began circulating after Phantom’s announcement on December 19 that it would be rolling out a new feature allowing users to create profiles, add friends, and adjust privacy settings. The feature offers three different privacy levels: public, private, and invisible.

Setting the Record Straight on Token Rumors

A tweet from “Slim,” a member of the X crypto community, added fuel to the fire, suggesting that token rewards might come with following others and being followed back. This further stirred speculation about the possibility of an airdrop.

Create your username on the Phantom wallet yet anon?

My username is slimNFT

Rumor has it you receive 1000 tokens for each person you follow and 500 for every account that follows you

Drop your username in the comments and I’ll follow you! Following all accounts back!

— Slim ✳️ (@slimNFT) January 2, 2025

However, Phantom was quick to clear the air, reminding its users that while they were working on enhancing the social aspects of the platform, the rumors about tokens were “a red herring.” The wallet provider made it clear that no such plans were in place.

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