Midnight, a privacy-focused side-chain connected to Cardano, has revealed detailed plans for its extensive "Glacier Drop" airdrop, distributing its entire 24 billion NIGHT token supply to users across eight major blockchain networks. The comprehensive 45-page Tokenomics and Incentives Whitepaper, published in June 2025, outlines the token's utility and phased distribution approach.
Key highlights include: 24 billion NIGHT tokens minted on Cardano and mirrored on Midnight’s network, with a disinflationary issuance of new tokens through block rewards. NIGHT acts as a non-expendable utility token continuously generating a shielded network resource called DUST, which is non-transferable and burns on use to stabilize token price volatility.
The "Glacier Drop" represents the first phase of a three-step distribution aimed at wide community participation rather than concentrating control among insiders. Eligibility requires holding at least $100 worth of native tokens on supported chains at a June 11, 2025 snapshot, excluding sanctioned entities. The listed blockchains and allocation percentages are: Cardano (50%), Bitcoin (20%), and the remainder split among Ethereum, Solana, XRP Ledger, BNB Chain, Avalanche, and Brave Wallet users.
Claimed NIGHT tokens will initially be locked in a Cardano smart contract and thawed gradually (vesting in 25% increments every 90 days over a year) to discourage dumping and incentivize early network participation such as block production and governance. The airdrop window will last 60 days, with unclaimed tokens moving to subsequent phases — the Scavenger Mine (rewarding computational contributions) and Lost-and-Found (a last claim opportunity post-mainnet launch).
The Midnight Network currently operates on testnet, with mainnet expected approximately 90 days following the Glacier Drop. The protocol employs zero-knowledge proofs to maintain privacy for users’ transactions and wallets, enhancing data protection.
At the time of reporting, ADA traded at around $0.5817. The airdrop has the potential to engage millions of users, as noted by Cardano founder Charles Hoskinson, who suggested up to 37 million users might be eligible.