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[Update] Fresh $150M Funding Announced: Phantom Wallet Airdrop Strategy Guide And How To Use

Photo for the Article - [Update] Fresh $150M Funding Announced: Phantom Wallet Airdrop Strategy Guide And How To Use

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 existsโ€”Phantom.ย (Read more: Ultimate Guide to Solana Airdrops 2025 and 10 Potential Crypto Airdrops to Watch Out For in 2025)

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 โ€œuser-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 
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However: It should be noted that, though it supports other blockchains, it mainly focuses on the Solana ecosystem, which means that the walletโ€™s utility token is $SOL, and the only token allowed to be staked on the platform is $SOL.

Photo for the Article - [Update] Fresh $150M Funding Announced: Phantom Wallet Airdrop Strategy Guide And How To Use
Source of Image: Reddit

By The Numbers

  • 7 million monthly active users were recorded in April 2024.ย 
  • Rank #2: Phantom on the Apple App Storeโ€™s utilities section on November 20, 2024.ย 

Phantom Wallet Features

Since Phantomโ€™s 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:

  1. Choose the โ€œSendโ€ button.
  2. Enter the recipientโ€™s address or scan a QR code.ย 
  3. Choose the token to be sent and type in the desired amount.ย 

To Receive Crypto:

  1. Choose the โ€œReceiveโ€ button.
  2. Copy the wallet address.ย 

To Swap Tokens:

  1. Choose the โ€œSwapโ€ button.ย 
  2. Choose the outgoing and ingoing tokens.ย 
  3. Type in the desired amount.
  4. Check for the transaction details and fee.ย 

To Stake $SOL:

  1. Choose the $SOL token.ย 
  2. Choose the โ€œStart Earning SOLโ€ button.ย 
  3. Choose a validator.ย 
  4. Type in the desired amount of $SOL to be staked.ย 
  5. Confirm the transaction.ย 

Other Features

  • NFT Trading

Aside from these features, Phantom Wallet also supports NFTs. 

  • To view the collection, choose the โ€œNFTsโ€ button.
  • Meanwhile, to buy or sell NFTs, choose the โ€œMarketplaceโ€ button, choose between the list of NFT marketplaces, and choose the NFT to be bought or sold.ย 
  • To transfer NFTs, choose the โ€œTransferโ€ 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 levelsโ€”public, 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: 

โ€œWeโ€™ve 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

Disclaimer:

  • Before investing in any cryptocurrency, it is essential that you carry out your own due diligence and seek appropriate professional advice about your specific position before making any financial decisions.
  • BitPinas provides content for informational purposes only and does not constitute investment advice. Your actions are solely your own responsibility. This website is not responsible for any losses you may incur, nor will it claim attribution for your gains.

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