Phantom Ditches Monad, Bets Big on Tokenized Assets

Phantom Wallet Drops Support for Monad Amid Pivot to Tokenized Assets

The multichain wallet Phantom is ending its support for the Monad network, citing structural changes in the latter's development rather than any security issues with Phantom itself. The decision marks a shift in resources towards networks with greater potential for real-world financial applications and tokenized assets.

Phantom will terminate support for Monad on August 26, approximately nine months after its mainnet launch. Users of the Monad network have two options to manage their assets: import their seed phrase into another wallet supporting Monad or swap their $MON tokens directly within Phantom for other assets.

The same day as announcing the end of Monad support, Phantom revealed the integration of Robinhood Chain, built using Arbitrum Orbit technology. This new Layer 2 network is fully Ethereum-compatible and utilizes ETH as its token for transaction fees.