🌐Official Link: phantom.app
Blockchain Network: Solana, Ethereum, Polygon.
Launch Year: 2021
Founder: Brandon Millman (CEO), Francesco Agosti (CTO), Chris Kalani (CPO)
Phantom Wallet emerged in 2021 as a solution to the complexities associated with managing digital assets on the Solana blockchain. Founded by Brandon Millman, Francesco Agosti, and Chris Kalani, the wallet was designed with the goal of making crypto more accessible and user-friendly. Its intuitive interface and robust security features quickly garnered attention, leading to rapid adoption within the crypto community.
One of Phantom’s standout features is its non-custodial nature, meaning users have full control over their private keys and, consequently, their assets. This design ensures that users’ funds are secure and inaccessible to third parties, including Phantom itself. The wallet’s user-centric design extends to its seamless integration with decentralized applications (dApps), allowing users to interact with various DeFi protocols and NFT marketplaces without leaving the wallet interface.
In June 2021, Phantom introduced an in-wallet token swap feature, enabling users to exchange tokens directly within the wallet. This functionality simplifies the trading process and has seen significant usage, with over $1 billion in swap volume recorded by October 2021. Additionally, Phantom supports staking, allowing users to earn rewards by delegating their tokens to validators, thereby contributing to the security and decentralization of the supported networks.
Recognizing the importance of cross-chain compatibility, Phantom expanded its support to Ethereum and Polygon networks. This multi-chain support enables users to manage a diverse portfolio of assets across different blockchains within a single wallet interface. The wallet also provides comprehensive NFT support, allowing users to view, send, and receive NFTs seamlessly.
Security remains a top priority for Phantom. The wallet incorporates robust encryption protocols and allows users to connect hardware wallets like Ledger for enhanced security. Phantom is also private by design, not requiring personal information such as names, emails, or phone numbers for setup, thereby preserving user anonymity.
Phantom’s commitment to user experience and security has led to substantial growth, with the wallet surpassing 7 million monthly active users as of April 2024. Its continuous development and feature enhancements position it as a leading solution for users seeking a reliable and comprehensive tool for managing their digital assets across multiple blockchain ecosystems.