Midnight Network is making a big splash with its new privacy blockchain and a hefty airdrop that’s sure to catch your attention. They're rolling out a whopping $24 billion worth of NIGHT tokens as part of their Glacier Drop, a multi-phase token distribution event that’s sure to stir up the crypto crowd. The real kicker? They're offering up to 100% of their NIGHT token supply in the first phase. Yep, you read that right—100% to lucky holders of Cardano (ADA), Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and more.
Now, I know what you’re thinking: “What’s the catch?” Well, it’s not all sunshine and rainbows. While you can claim these tokens, they won’t be available for a trade-fest right away. Instead, they’ll be “frozen” in a smart contract on the Cardano network. But don’t worry, those tokens will gradually "thaw" in 25% increments every 90 days. You’re going to have to wait 360 days to get the full stash. Patience, my friend.
The Scavenger Mine and Lost-and-Found Phases
According to the white paper, traditional tokenomic models are a mess, with insiders and early investors hogging all the tokens while the regular folk (you and me) get the scraps. Midnight wants to flip that script. That’s why they're distributing up to 100% of their NIGHT token supply to a very broad group of users. If you held more than $100 worth of eligible tokens as of June 11, congratulations! You could be in for a delightful treat.
Let’s break it down a bit more: Of the 24 billion tokens available, half (50%) will go to holders of ADA on Cardano, 20% to Bitcoin holders, and the rest (30%) will be split among other eligible blockchains. It’s a sweet deal, but as always, there’s a little twist. If you claim these tokens, you’ll have to wait for them to thaw, or basically, they’re locked for 360 days. Not so fast, right?
If by some miracle, everyone manages to claim their tokens in the Glacier Drop, you’ll see the airdrop reach up to 37 million users (according to Charles Hoskinson, founder of Cardano). But honestly, how likely is that? I think it’s safe to say not all tokens will be claimed, which leads us to Phase 2: The Scavenger Mine. Here, participants can contribute computational power to the network and earn NIGHT tokens based on how much power they provide. Think of it as mining, but with a privacy-first twist.
Privacy First, Mainnet Later
And, wait, there’s more! For those who somehow miss the Glacier Drop, there’s a Lost-and-Found phase where you can still claim some tokens, if you're eligible. But don’t wait too long. After four years, any unclaimed tokens will just be... gone, sucked up into the protocol’s on-chain treasury.
And just in case you’re wondering, Midnight isn’t just about giving away tokens. The network’s privacy focus uses zero-knowledge proofs to keep your data, wallets, and transactions safe, ensuring only the right people can access the information. It’s a cool concept, but they’re still on testnet. The mainnet launch? Oh, that’s still 90 days out from the Glacier Drop. So, while the NIGHT token excitement is real, don’t expect the full moon anytime soon.
So, here’s the takeaway: You could be eligible for a chunk of this $24 billion airdrop. But I guess you'd better get in fast and stay patient, your tokens will be thawing out slowly. Maybe you’ll be one of the lucky ones who gets to enjoy it all... eventually.
Anastasiia G
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