Phantom will drop support for Sui on September 24, after its release from Monad, as Sui TVL remains approximately 82% below its peak.
Phantom supports another Layer 1, with Sui support ending September 24, after Monad support ends this Wednesday.
What’s the scoop?
- Next sunset: The decision comes around 20 months after adding the network in January 2025. After the deadline, users will no longer be able to view Sui balances, send transactions, exchange assets, or log into Sui apps through Phantom, through their assets. stay safe on the chain and accessible through other Sui wallets.
- Another chain cut: Sui is the second recent disappearance from the Phantom network, following that of July. Monad cupless than a year after the launch of the Monad mainnet.
- Raw Backdrop: Release Comes as Sui DeFi TVL Nearby $469 millionor about 82% below its peak of $2.58 billion, after a year that also included several network outages. Phantom and Sui did not link these issues to the decision, but the loss of distribution through one of the largest crypto wallets adds another headwind to the network.
David Christophe
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David is a writer/analyst at Bankless. Before joining Bankless, he worked for a series of early-stage crypto startups and with grants from the Ethereum, Solana and Urbit foundations. He graduated from Skidmore College in New York. He currently lives in the Midwest and enjoys NFTs, but no longer participates in them.
