Phantom Wallet adds support for Base, Coinbase’s Ethereum-based Layer 2 blockchain, enabling token swaps across multiple chains.
Phantom’s multi-chain expansion is furthered by the inclusion of Base support, which expands the crypto wallet’s network access across blockchain networks.
Statement on Phantom Wallet
Phantom acknowledged in a Monday post on X that it has implemented support for Base, Coinbase’s Ethereum-based Layer 2 blockchain. Support for the Ethereum Layer 2 chain and token transfers from various chains to Base are now available to all users, as the integration has exited beta.
Phantom users can now purchase ether and USDC on Base in the wallet and exchange tokens between Base, Ethereum, Solana, and Polygon.
“Our Base support makes it easy for you to use your Phantom wallet to interact with Base’s ecosystem, just as you already with Solana, Ethereum, Bitcoin, and Polygon,” the wallet service provider said in an earlier post.
Phantom, which was initially a Solana wallet, transitioned to a multichain platform in May 2023 by supporting the Ethereum and Polygon blockchains.
Brandon Millman, Phantom’s co-founder and CEO, stated, “We believe that the future of digital asset management lies in cross-chain interoperability, and we’re committed to providing our users with the tools and resources they need to easily navigate and transact across various blockchain networks,”
The total value locked (TVL) of Base is sixth among blockchain networks, trailing Layer 1 chains Ethereum, Solana, Tron, BSC, and Bitcoin. Nevertheless, it continues to be the largest Layer 2 chain by TVL. Base’s TVL is roughly $3.4 billion, while Arbitrum’s is $3 billion, according to DeFiLlama data.
