Phantom Drops Monad Support to Integrate Robinhood Chain

Current strategic strikes by the multichain pockets Phantom point out a shift in sources towards networks with larger potential for real-world monetary purposes and tokenized belongings.

Phantom Ends Help for Monad

Phantom has introduced it should terminate help for Monad beginning August 26, concluding an integration that lasted roughly 9 months following the mainnet launch.

The corporate clarified that this modification doesn’t have an effect on the possession of consumer funds. As a non-custodial pockets, Phantom doesn’t maintain consumer belongings; as a substitute, they continue to be recorded on the blockchain and could be accessed by means of any appropriate pockets. Over the approaching weeks, the app will present notifications and directions to assist customers transition to various options.

Two Choices for Customers

Affected customers have two main paths to handle their belongings earlier than the deadline.

The primary possibility is to import their seed phrase into one other pockets that helps Monad, reminiscent of MetaMask or Rabby, permitting for uninterrupted use of the community. The second possibility permits customers to swap their $MON tokens immediately inside Phantom for different belongings, together with Wrapped $MON inside the Solana ecosystem.

In line with the corporate, the choice stems from structural modifications in Monad’s improvement reasonably than any safety points inside the pockets itself.

Robinhood Chain Now Obtainable on Phantom

Simply at some point earlier than saying the top of Monad help, Phantom revealed the combination of Robinhood Chain. After updating to the newest model of the app, customers can now work together immediately with this new Layer 2 community by means of the pockets interface.

Robinhood Chain is constructed utilizing Arbitrum Orbit know-how. It’s totally Ethereum-compatible and makes use of ETH because the token for transaction charges.

Concentrate on Tokenized Property

The brand new community was designed to bridge conventional monetary markets with blockchain infrastructure. Robinhood is positioning this Layer 2 resolution as a hub for tokenized shares, real-world belongings (RWA), and different monetary devices that may be traded on-chain.

This integration grants Phantom customers direct entry to this ecosystem with out the necessity for handbook community configuration or third-party purposes.

Phantom Pivots Towards the Broader Multichain Ecosystem

The elimination of Monad alongside the addition of Robinhood Chain means that Phantom is optimizing its supported networks based mostly on their adoption and potential for real-world utility.

Whereas the top of help may create short-term strain on the $MON token, the combination of Robinhood Chain expands consumer entry to fashionable infrastructure targeted on the tokenization of conventional monetary belongings and the evolution of on-chain capital markets.