San Francisco, CA – Phantom, a prominent cryptocurrency wallet, has significantly enhanced the user experience on the Solana blockchain with the introduction of “gasless swaps” via its mobile application. Launched on May 1, 2025, this innovative feature allows users to execute token swaps on Solana without needing to hold the native SOL token for transaction fees, directly addressing a long-standing friction point for decentralized finance (DeFi) participants.
Traditionally, all transactions on the Solana network require a small amount of SOL to cover gas fees. Phantom’s new gasless swap mechanism automatically covers these network fees by deducting a 1.5% fee from the token being swapped, provided the transaction is initiated through the mobile app and exceeds a minimum value, typically around $10 to $75 depending on specific conditions. This eliminates the need for users to manage a separate SOL balance solely for transaction costs.
The move is expected to lower barriers to entry for new users and streamline the trading experience for existing ones, potentially increasing trading volumes on Solana-based decentralized exchanges. According to Phantom, this initiative aims to make crypto transactions as intuitive as traditional fintech applications. Phantom’s commitment to user-friendliness has contributed to its rapid growth, with over 3 million active users as of Q1 2025.
While initially built for the Solana ecosystem, Phantom has evolved into a multi-chain powerhouse, now supporting Ethereum, Polygon, and Bitcoin, alongside Solana. This expansion positions Phantom as a versatile tool for managing diverse digital assets, though its gasless swap feature remains exclusive to the Solana network. The company stated in its announcement, > "SOLANA https://t.co/mQSm4P3pkv," signaling a continued focus on improving the Solana user experience.
This development underscores Phantom’s strategic vision to simplify Web3 interactions and foster broader adoption of blockchain technology. By removing the necessity of holding a specific native token for fees, Phantom aims to make the Solana network more accessible and efficient for a wider range of cryptocurrency users.