XRP News Today: Cardano Distributes 1.2 Billion NIGHT Tokens to XRP Holders

Cardano has launched an initiative to distribute 1.2 billion NIGHT tokens through two separate campaigns: the Midnight Drop and the Glacier Drop. This airdrop targets holders of XRP and other major cryptocurrencies, aiming to integrate Cardano’s smart contract capabilities with the global liquidity of XRP. The NIGHT token will serve as the governance and utility token for the Midnight ecosystem, enabling features such as staking, governance, and private on-chain transactions.

To qualify for the airdrop, participants must have held at least $100 worth of XRP in a supported wallet as of June 11, 2025. This snapshot date locks in eligibility, and token claims will begin in the weeks ahead. The airdrop is designed to promote long-term engagement and prevent mass dumping, with participants receiving their NIGHT tokens in four randomized phases over a year. Additionally, the airdrop includes a phased claiming process and a proof-of-work-style "Scavenger Mine" phase to redistribute unclaimed tokens. This phase will last for a month, allowing users who complete computational tasks to claim their share. Following the mainnet launch, a four-year "Lost-and-Found" phase will begin, enabling claimants to reclaim their allocations.

The Midnight Glacier airdrop is part of a broader initiative by Cardano to distribute all NIGHT governance tokens across eight major blockchains. The privacy-focused project has received backing from Cardano, with founder Charles Hoskinson supporting the initiative. Hoskinson revealed details of the Midnight Glacier Drop, highlighting the project's goals and the distribution mechanism. The airdrop is expected to have a significant impact on the cryptocurrency market, with investors closely monitoring the developments. The phased distribution of NIGHT tokens is designed to promote long-term engagement and prevent mass dumping, which could stabilize the market and encourage more users to participate in the Midnight Network. The airdrop also includes anti-farming and Sybil resistance mechanisms, further enhancing its security and fairness.

By targeting the XRP community, Cardano aims to introduce a new layer of functionality to users who have traditionally lacked access to DeFi tools. Midnight allows users to interact with decentralized apps while maintaining financial privacy through zero-knowledge cryptography. This airdrop is part of a broader effort to integrate Cardano’s smart contract capabilities with XRP’s global liquidity, setting the stage for cross-chain DeFi opportunities.