XRP News Today: Cardano Announces 1.2 Billion NIGHT Token Airdrop for XRP Holders

Cardano founder Charles Hoskinson has announced a significant initiative to deepen collaboration between Cardano and XRP. The key to this partnership is Midnight, Cardano’s privacy-focused sidechain, which is set to serve as the DeFi engine for XRP. This integration aims to allow XRP users to access DeFi features such as staking, lending, and liquidity pools without moving their tokens off the XRP Ledger. Since XRP does not support smart contracts, this sidechain integration could offer the ecosystem a new layer of utility while keeping users' assets secure on-chain.

Midnight utilizes zero-knowledge cryptography to enable confidential smart contracts, allowing users to interact with DeFi applications while keeping their financial data private. This upgrade could significantly enhance the capabilities of XRP holders, providing them with more options for utilizing their tokens.

The collaboration extends beyond Midnight. Hoskinson confirmed that Cardano’s Lace Wallet will soon support XRP, enabling holders to manage multiple assets under one interface. Additionally, there are ongoing discussions to integrate Ripple’s RLUSD stablecoin into the Cardano ecosystem, offering a USD-pegged liquidity option for DeFi platforms operating on Midnight.

Hoskinson has engaged with Ripple executives, including CTO David Schwartz and CEO Brad Garlinghouse, to ensure smooth integration between Midnight and the XRP Ledger. The goal is to combine Cardano’s advanced smart contract capabilities with XRP’s robust liquidity and cross-border capabilities.

To generate interest and user activity, Cardano has launched two airdrop campaigns: the Midnight Drop and Glacier Drop. XRP holders with at least $100 worth of XRP as of June 11, 2025, are eligible to claim a portion of the 1.2 billion NIGHT tokens, the governance token for Midnight. Midnight is already live on the testnet, and its mainnet launch is expected later this year. Once live, it will support interactions across multiple chains, including Ethereum, Solana, Avalanche, and now XRPL, strengthening Cardano’s multi-chain ambitions.

Charles Hoskinson, the founder of Cardano, has announced a significant airdrop of NIGHT tokens for holders of XRP and other cryptocurrencies. This airdrop is part of the Midnight Network's initiative to bring decentralized finance (DeFi) to the XRP Ledger, with plans for wallet support and the introduction of a stablecoin. The airdrop will see 1.4 billion NIGHT tokens distributed to XRP holders, representing a portion of the 24 billion NIGHT tokens allocated across various blockchain networks.

The Midnight Network, a privacy-focused blockchain with connections to Cardano, has designed the distribution process to be fair and inclusive. Holders of at least $100 worth of native tokens across the listed blockchain networks before the snapshot date are eligible to claim the tokens. The snapshot, which was taken on June 11, 2025, ensures a wide distribution across over 37 million wallets. The token prices will be based on the rates displayed on CoinMarketCap at the time of the snapshot, serving as a security measure to prevent bot activities and Sybil attacks.

The NIGHT tokens will be distributed in three stages. The first stage, known as the Glacier drop, allows qualified users to claim their full tokens within a 60-day window. The second stage, the Scavenger Mine, is a 30-day period where users can claim the rest of their tokens by engaging in small computing tasks. The final phase, the Lost and Found, allows eligible participants who missed earlier claims to reclaim a fraction of their original allocation by performing specific tasks. Unclaimed tokens after this phase will go to the Midnight treasury.

Cardano participants will receive the largest share of the airdrop, with 50% of the 24 billion NIGHT tokens allocated to them. Bitcoin holders will receive 20% of the supply, while the remaining tokens will be distributed equally among holders of XRP, Ethereum, Solana, Basic Attention Token, Avalanche, and BNB Chain. The amount each individual receives will depend on their holdings during the snapshot, with larger holders likely to receive more tokens.

Eligible airdrop participants will start receiving their NIGHT token allocations in July. The claim portal will remain open for two months, followed by a 30-day Scavenger Mine phase and a four-year Lost and Found phase. All claimed tokens in the first two phases will be locked for a period, with vesting happening at 25% per unlock every 90 days for 360 days. This scheduled unlock is designed to prevent immediate dumping by claimants. Claimants can either claim all their allotted tokens using the vesting schedule or wait until the end of the 360 days and claim at once. The claim portal will remain open for an additional 90 days after the last vesting to allow for redemptions for three extra months.

The Midnight Network's airdrop is a significant event in the crypto world, marking one of the largest multi-chain airdrops in history. The initiative aims to bring DeFi to the XRP Ledger and other blockchain networks, with plans for wallet support and the introduction of a stablecoin. The airdrop is designed to be fair and inclusive, with a distribution process that ensures a wide range of participants can benefit. The three-stage distribution process, along with the vesting schedule, is aimed at preventing immediate dumping and ensuring the long-term success of the Midnight Network.