Thursday, October 6, 2022
HomeDeFi1.2 B raised for crypto wallet Phantom

1.2 B raised for crypto wallet Phantom

Cryptocurrency investments aren’t complete without a crypto wallet to keep your funds safe. A solid crypto wallet will store your currencies and provide enough protection against external intrusion. The wallet might be stored either online or offline. Numerous crypto exchanges provide online crypto wallet services to its users.

As the network’s activities and DeFi operations are developing, there is a need for the network’s wallet. This will allow users to fully interact with the DeFi ecosystem’s myriad features. The Solana network’s Phantom wallet enables a one-of-a-kind integration of Solana’s fledgling DEXs, liquidity pools, and even lending protocol. Phantom’s investment increased the wallet’s market valuation to USD 1.2 billion. Phantom has reached new heights by raising USD 109 million.

Phantom to launch IOS App

Phantom published how raised money will be used to strengthen the wallet’s technology. The success of the investment round was aided by the top investors, in addition to Paradigm as the round’s pioneer. Variant, Andreessen Horowitz (a16z), Jump Capital, and Solana Ventures are among the venture capital firms.

Phantom wallet’s iOS mobile app will be released. The deployment of a mobile application will aid the Solana network’s quick expansion. Users will get app assistance and tokens and NFTs may be sent, received, and stored by them.

Phantom now has over 2 million daily active users. Over 12.4 million SOL tokens worth USD10.4 billion have been staked. It has completed 55.2 million DeFi, NFT, and app transactions using its switched tokens worth USD1.37 billion.

 

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