Phantom, one of the largest crypto wallets, will stop supporting the Monad network effective Aug. 26, the company announced on X Friday. The decision gives users just over a month to move their MON-based assets or convert them.
Phantom users holding Monad tokens have two options. They can transfer their assets to another wallet that supports Monad, or they can swap their holdings for Wrapped Monad – a SOL-based version that trades on Solana's blockchain. Phantom said it will send in-app notifications with step-by-step instructions on how to make either move.
The withdrawal of support from a major wallet is a tangible setback for Monad, a layer-1 blockchain that has been pitching itself as a high-speed alternative to Ethereum. Losing distribution through Phantom – which has millions of active users – reduces friction for everyday holders who use the wallet as their primary asset manager. Users will need to migrate to competing wallets or accept the conversion to wrapped tokens, both of which add friction to their holdings.
The Wrapped Monad option suggests a path for users who want to stay in the ecosystem but don't wish to switch wallets. By converting to a Solana-based wrapped version, they maintain exposure to Monad's price but hold it in an environment where Phantom continues to operate normally. It's a compromise that avoids a complete exit but also indicates that the relationship between Phantom and native Monad infrastructure is ending.
Phantom has not stated a reason for the delisting. The move comes as Monad continues to develop its mainnet and establish partnerships across the broader blockchain sector. The wallet's decision does not prevent MON trading or holdings on other platforms – it only affects Phantom's native support for the network.
Users should act before late August to avoid any last-minute complications or missed notifications. Anyone who does not move or convert their assets by the deadline should verify Phantom's guidance closer to the date.
Phantom to stop supporting Monad on Aug. 26, forcing users to move or convert tokens
Phantom wallet will end support for the Monad network on August 26. Users must move assets or swap them for Solana-based Wrapped Monad before that date.