[Update] Fresh $150M Funding Announced: Phantom Wallet Airdrop Strategy Guide And How To Use
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Update on January 17, 2025: Phantom, the digital asset wallet known for its user-friendly interface, has secured a whopping $150 million in Series C funding, skyrocketing its valuation to $3 billion.
- The funding round was co-led by tech investment heavyweights Sequoia Capital and Paradigm, with participation from Andreessen Horowitz and Variant, highlighting strong investor confidence in Phantom’s vision.
Update on January 16, 2025:
- To be able to swap tokens on decentralized exchanges (DEXs), the user needs to connect their wallet first.ย
- To be able to stake a cryptocurrency, the user needs to connect their wallet first.ย
- To be able to lend and borrow a token, the user needs to connect their wallet first.ย
Basically, to be able to access the services and products on decentralized applications (DApps), users must connect their wallets first to the platform.
In the Solana ecosystem, a popular non-custodial wallet existsโPhantom.ย (Read more: Ultimate Guide to Solana Airdrops 2025 and 10 Potential Crypto Airdrops to Watch Out For in 2025)
Table of Contents
Phantom Wallet Introduction
In 2021, a web3 wallet was launched by Brandon Millman, Francesco Agosti, and Chris Kalani, who previously built a DEX called Matcha.xyz.
- Availability: Phantom Wallet is a web extension and has a mobile app available on iOS and Android.ย
- Link: https://www.phantom.com/ย
- Wallet Design: According to the developers, the wallet aims to provide a โuser-friendly and secure wayโ to store, send, receive, swap, and interact with crypto assets and dApps on multiple blockchains, as aside from Solana, it also supports the Ethereum and Polygon blockchains.ย
- Advantages: As a non-custodial wallet, Phantom lets its users handle their own seed phrases and manage their assets without any intermediaries.ย
However: It should be noted that, though it supports other blockchains, it mainly focuses on the Solana ecosystem, which means that the walletโs utility token is $SOL, and the only token allowed to be staked on the platform is $SOL.
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By The Numbers
- 7 million monthly active users were recorded in April 2024.ย
- Rank #2: Phantom on the Apple App Storeโs utilities section on November 20, 2024.ย
Phantom Wallet Features
Since Phantomโs adopted utility token is $SOL, all the transaction fees on the platform must be paid on $SOL.
- Therefore, before using the wallet, users must have $SOL first bought from crypto exchanges.ย
- To deposit $SOL, and other Solana-based tokens such as $USDC, $SRM, or $RAY to Phantom from exchanges.ย
To Send Crypto from Phantom Wallet:
- Choose the โSendโ button.
- Enter the recipientโs address or scan a QR code.ย
- Choose the token to be sent and type in the desired amount.ย
To Receive Crypto:
- Choose the โReceiveโ button.
- Copy the wallet address.ย
To Swap Tokens:
- Choose the โSwapโ button.ย
- Choose the outgoing and ingoing tokens.ย
- Type in the desired amount.
- Check for the transaction details and fee.ย
To Stake $SOL:
- Choose the $SOL token.ย
- Choose the โStart Earning SOLโ button.ย
- Choose a validator.ย
- Type in the desired amount of $SOL to be staked.ย
- Confirm the transaction.ย
Other Features
- NFT Trading
Aside from these features, Phantom Wallet also supports NFTs.
- To view the collection, choose the โNFTsโ button.
- Meanwhile, to buy or sell NFTs, choose the โMarketplaceโ button, choose between the list of NFT marketplaces, and choose the NFT to be bought or sold.ย
- To transfer NFTs, choose the โTransferโ button, choose the NFT to be transferred, and type in the address of the recipient.ย
- Take note that Phantom Wallet only supports Solana-based NFTs.ย
- Social Discovery Platform
In December 2024, Phantom introduced a new in-app social discovery feature.
- The feature is saidto allow users to create profiles, add others as friends, and manage privacy settings across three levelsโpublic, private, and invisible.
- Multichain Support
On December 6, 2024, Phantom also confirmed that it will soon integrate Sui blockchain.
- The addition of Sui is the fourth blockchain supported by Phantom, together with Solana, Bitcoin, and Ethereum.ย
- According to the wallet, the addition of new integrated chain is part of its effort to expand offerings and support more assets.ย
- The integration of Sui in the Phantom wallet is set to happen on the early half of 2025.ย
Phantom Wallet Airdrop Guide
We first wrote this article in 2023, where the information about the airdrop of the wallet is just speculation.
- It is because Phantom Wallet will allegedly launch its own utility token in the future, based on speculations on social media.
To secure potential rewards, users are encouraged to:
- Use the swap feature of the wallet.ย
- Buy, sell, or store NFTs in the wallet.ย
- Refer new users.ย
However: Recently, rumors emerged that those who will use the new social discovery platform of Phantom will earn tokens for using the new feature.
- The team behind Phantom immediately denied the rumors and said that they still have no plans to launch their own utility token and will continue in adopting $SOL.ย
Key Quote:
โWeโve seen some speculation about an airdrop tied to this feature, so to clarify: we do not have any plans to launch a token.โ
Phantom Wallet
This article is published on BitPinas: Phantom Wallet Airdrop Strategy Guide And How To Use
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