The popular self-custodial mobile and browser wallet adds more features to bring users a seamless multichain experience.
Popular Solana self-custodial wallet Phantom announced today that they will now be supporting the Ethereum and Polygon network on their mobile and browser wallets.
The update, now live, will widen the range of dApps (decentralised applications) that users can have access to on the Web3 landscape, opening up users to be able to access Magic Eden, Uniswap, Aave, blur, and OpenSea via Phantom.
1/ Phantom multichain is rolling out today! 🥳
With support for multiple secret recovery phrases, it’s easy to import all of your wallets in seconds.
Compatible everywhere with a MetaMask button. pic.twitter.com/wbvwmZ1ZlJ
— Phantom (@phantom) May 1, 2023
The new support feature that adds rival blockchains Ethereum and Polygon was first announced in November, with the aim to provide users with the ability to interact with Solana, Ethereum, and Polygon – the three largest blockchains for digital collectibles – in one wallet.
“We are dedicated to leveraging our expertise from the Solana ecosystem to drive innovation in the wallet space… in order to deliver the most versatile and user-friendly experience across all platforms,” said Phantom CEO Brandon Millman, especially “the three most prominent ecosystems: Ethereum, Polygon, and Solana.”
The new features will also simplify the process of managing multiple accounts and assets across different blockchains, where Phantom has added the ability to import existing wallets on MetaMask, Solana, and EVM. The update also removes the need to switch between wallets, as Phantom acts as similar to an ‘aggregate’.
“As crypto continues to go multichain, our wallet stands out as the premier choice for users,” Millman said.
Phantom was initially launched in March 2021, and then made big strides after its iOS wallet launch in January 2022 after raising $109 million in funding. An Android version of the Phantom wallet app was then launched in April that year.
Since its Ethereum and Polygon support last fall, the company says that the Phantom wallet has onboarded over 100,000 users. To accommodate for the amount of new users on the platform, Phantom has implemented tighter security measures in response to a rise in phishing and scam attacks on NFT holders. In January, the firm said they had blocked over 18,000 wallet-draining transactions from scanning over 85 million transactions.
As for the future, Phantom wants to introduce instant NFT sales, and a bridge to enable transfer of assets between NFTs based on the Solana and Ethereum networks.
“We believe that the future of digital asset management lies in cross-chain interoperability,” Brandon Millman, co-founder, and CEO of Phantom, said in a statement. “We’re committed to providing our users with the tools and resources they need to easily navigate and transact across various blockchain networks.”