Phantom Wallet is now live on Base, the Ethereum layer-2 blockchain from Coinbase, following the success of its currency adapter on Polygon and the forthcoming launch of the Harmony launchpad. Following a beta rollout last month, this integration makes Phantom available to all Base users, the company announced Nov. 25.
The move puts Base further toward cementing its place as the leading Layer 2 blockchain by total value locked (TVL) and the sixth largest overall. With this integration, users using the Phantom platform can now use Base to buy ether (ETH) and USD Coin (USDC) and’swap’ tokens from their respective Base, Ethereum, Solana, or Polygon networks using a debit card, credit card, Apple Pay, or Coinbase.
Joining with the base and bringing a bag full of tools to aid improved user experience and certainly security is Phantom. These include:
- Decentralized Application Access: It allows users to interact with base-based decentralized applications (dApps) and non-fungible tokens (NFTs).
- Security Enhancements: Support for ledgers, anti-spam on suspicious tokens & NFTs, simulating transactions to flag dubious activity.
- Token Management: Facilitating a truly multi chain ecosystem, being less cumbersome to buy and swap tokens, as compared to users.
Phantom Integrates Blowfish to Enhance Security Against Threats
Phantom’s recent acquisition of Blowfish, a Web3 security platform, will be integrated. Phantom has integrated Blowfish’s technology, which has been instrumental in preventing more than 2.8 million scams, to power a stronger defense against harmful dApps and vulnerabilities.
However, Phantom’s latest effort is showing promise, while in the months that followed its launch, Phantom has faced technical troubles. On Nov. 13, the iOS software update also created problems for some users, locking them out of their accounts and making them enter a recovery phrase.
Two specifically reported financial losses, including one that allegedly amounted to $600,000. We acknowledged these issues and are working to restore user trust with a set of changes and many more improvements in the works.
At the same time that Phantom has grown, the interest in memecoins has spiked among retail investors, pulling them to decentralized trading platforms. The trend has catapulted Phantom past Coinbase in purchases on Apple’s U.S. App Store, indicating that users are leaning towards it.
Platforms like Clanker, an AI-driven token bot for creating memecoin, have driven Base to be a memecoin hotspot, and that’s not all. Bankless co-founder Ryan Sean Adams even believes this mix of factors could lead to an ‘Ethereum memecoin mania’ and drive people further to use Phantom.
Phantom Wallet’s expansion to Base and its ongoing focus on security and user experience are opening a unique (leading) entry point into the DeFi, and blockchain sectors. Phantom’s integration could be a key factor in the future of the multi-chain digital wallet as Base catches on and the memecoin trend continues.
