Phantom will end support for the Monad network on Aug. 26, the wallet company said on X on Friday, cutting off the high-throughput EVM chain roughly nine months after its November 2025 mainnet launch.

"We'll soon begin notifying Monad users in-app with links to support articles that share options to move or swap their Monad-native assets," Phantom said. Because Phantom is self-custodial, Monad assets remain accessible after the cutoff: users can import their recovery phrase into another wallet that supports the chain.

The two companies gave different deadlines. Monad's own post on X, published about three hours before Phantom's, told users Phantom support ends Aug. 12 and urged them to migrate to another EVM wallet before that date, pointing to a list of supported wallets in its documentation. Neither team had publicly reconciled the dates by press time.

'Time will tell which strategy is right'

Monad co-founder and CEO Keone Hon said Phantom told the team it is removing Monad, along with another network, "in an effort to focus more on their core business."

"We want Monad to be everywhere, so this is a step backward at a moment when we are trying to take many steps forward to connect Monad (and crypto more generally) to all parts of the financial economy," Hon wrote on X on Saturday. He noted that Phantom, unlike most EVM wallets, does not let users add networks themselves: "Time will tell which strategy is right for the EVM."

Hon pointed users toward MetaMask, Backpack, Rabby, Rainbow, Infinex, and Ambire. MetaMask moved quickly: "If you're using @monad, use it with MetaMask. We cover your gas fees," the wallet posted on Friday. MetaMask has been building on Monad since June, when it launched its Money Account — a yield-bearing account with a linked card — exclusively on the chain.

Phantom turns toward Robinhood Chain

The timing points to Phantom's priorities. A day before the Monad announcement, the wallet said Robinhood Chain is now live in the app, adding the Arbitrum Orbit-based network Robinhood is using to push tokenized equities and real-world assets onchain.

Monad launched its mainnet on Nov. 24, 2025, after raising $244 million from investors including Paradigm and Dragonfly.

$MON drifts near lows

$MON trades at $0.0205, down 1,3% in the past 24 hours and 9.3% on the week, according to CoinGecko. The token has fallen 58% from its Nov. 26, 2025, all-time high of $0.0488, set two days after mainnet went live, and briefly dipped below its ICO price earlier this year. Its market capitalization stands at $242 million against a $2.06 billion fully diluted valuation.

Onchain activity is steadier: Monad holds $784.5 million in DeFi TVL, up 5.3% in the past day, with $561.6 million in stablecoins and about 23,000 daily active addresses, according to DefiLlama.