Cryptocurrency wallet Phantom has denied rumors of creating a new token, especially one tied to its upcoming social discovery feature.
Online discussions suggested users might receive tokens for connecting with others through the new tool. However, in an X post on January 4, Phantom clarified that it has no plans to release a token, despite the speculation.
“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”, the company stated.
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Despite the rumors, Phantom expressed enthusiasm about the social discovery feature, stating, "But we're incredibly excited about social discovery on Phantom and are actively working on ways to make it something everyone loves".
The social discovery feature, announced on December 19, will allow users to create profiles, add friends, and choose from three privacy options: public, private, or invisible.
Launched in 2021, Phantom was created by Brandon Millman, Chris Kalani, and Francesco Agost. By April last year, it had attracted 7 million monthly active users. The wallet is designed to give users full control over their private keys and digital assets, including non-fungible tokens (NFTs).
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