Midnight Launches Glacier Drop Airdrop Offering 24 Billion NIGHT Tokens

Midnight, a privacy-focused blockchain connected to Cardano, has launched a major airdrop event, offering free NIGHT tokens to eligible Cardano (ADA) holders. This initiative is part of Midnight's broader strategy to engage with its community and distribute its tokens widely across various blockchain networks, including Bitcoin, Ethereum, Solana, XRP, and Avalanche. The airdrop, known as the 'Glacier Drop,' is the first phase of Midnight's token distribution plan. According to the project’s whitepaper, 24 billion NIGHT tokens—half of the entire supply—will be distributed to eligible users. Cardano wallet holders are set to receive the largest share of these tokens. The distribution is designed to be fair and equitable, with no Know Your Customer (KYC) requirements or fees involved. Eligible users need only to sign with their wallet and provide a valid Cardano address to claim their tokens. Midnight is a fully integrated partner chain of Cardano, utilizing Cardano’s Proof-of-Stake (PoS) consensus mechanism for its security and governance. The NIGHT token is minted directly on Cardano, and stake pool operators (SPOs) can earn NIGHT without giving up ADA rewards. This integration suggests that Midnight is not just a side project but a significant component of Cardano's ecosystem, potentially serving as a growth catalyst for the platform. The amount of NIGHT tokens each user receives depends on the amount of ADA they held at the time of a previously taken snapshot. For instance, if a user held 5,000 ADA and the total eligible pool was 1.5 billion ADA, they would receive around 40,000 NIGHT tokens. The value of these tokens could be substantial; if NIGHT reaches a $500 million market cap, each token could be worth around $0.0208, making 40,000 NIGHT tokens worth over $800. Claimed tokens will first be locked and will gradually become accessible during the Redemption period, allowing holders to access them over time. There is a 60-day window to claim the tokens, and all NIGHT tokens claimed during the first two phases will unlock gradually over 360 days after the mainnet launch, with a 90-day grace period to redeem. This gradual unlocking is a strategic decision to prevent market volatility and ensure a steady supply of tokens in the market. Midnight's airdrop is expected to boost the network's user base and foster greater participation in its ecosystem. By distributing tokens to users of various blockchain networks, Midnight aims to attract a diverse range of users and increase the adoption of its platform. This move is part of Midnight's multichain strategy, targeting not only Cardano users but also holders on other major blockchain networks.