Phantom to Drop Monad Network Support by Late August

Phantom plans to end support for the Monad blockchain on August 26, less than nine months after the network's mainnet debut in November 2025. The wallet announced the decision via social media, confirming users will soon receive in-app alerts with guidance on how to transfer or swap their Monad-based assets.

Despite Phantom’s exit, users retain control of their assets since the wallet is self-custodial. This means funds remain accessible through recovery phrase importation into other compatible wallets. However, Monad’s own communication set an earlier deadline of August 12 for Phantom support termination, urging users to migrate beforehand. The discrepancy between these dates remains unresolved publicly.

Reactions and Alternatives After Phantom's Withdrawal

Monad co-founder Keone Hon criticized Phantom’s move as a setback, especially at a time when Monad aims to expand its presence across financial sectors. Hon highlighted Phantom’s restrictive approach that doesn’t allow user-added networks, contrasting it with other EVM wallets. He directed users to alternatives like MetaMask, Backpack, Rabby, Rainbow, Infinex, and Ambire for continued Monad access.

MetaMask quickly responded by offering to cover gas fees for users migrating their Monad assets to its platform. This aligns with MetaMask’s ongoing commitment to Monad, demonstrated by launching its Money Account product a yield-generating service with a linked card solely on the Monad chain since June 2025.

Phantom’s Shift Towards Robinhood Chain

The timing suggests Phantom is refocusing its efforts. Just a day before announcing Monad support termination, Phantom integrated Robinhood Chain into its app. This network, based on Arbitrum Orbit, facilitates tokenized equities and real-world assets, reflecting Phantom’s pivot toward emerging blockchain ecosystems with significant backing from mainstream financial players.

Monad’s mainnet went live on November 24, 2025, following a $244 million funding round including investments from Paradigm and Dragonfly. Despite the strong financial backing, Monad’s native token MON has struggled, trading around $0.0205 down over 9% this week and more than 58% from its November all-time high. The token’s market capitalization stands at approximately $242 million, a steep drop from its fully diluted valuation of $2.06 billion. Meanwhile, on-chain metrics show Monad holds $784.5 million in assets.

This article is for informational purposes and does not constitute financial advice.