XRP News Today: Cardano's Midnight Airdrop Allocates 5% to XRP Holders in 1.2 Billion Token Distribution

Cardano founder Charles Hoskinson has revealed details of a significant token distribution event tied to the Midnight protocol, a privacy-focused sidechain initiative under Input Output Global. The airdrop, initially delayed to the second half of 2025, will allocate 50% of the total NIGHT token supply to ADA holders—the largest airdrop in Cardano’s history. Additional allocations include 30% to Bitcoin holders and 5% to XRP stakeholders, with the latter group receiving 1.2 billion NIGHT tokens based on a June 11 snapshot of wallets holding at least $100 worth of XRP [1][2]. The distribution, announced during Consensus 2025 and confirmed for the Rare Evo event (August 6–10), aims to unify blockchain ecosystems through shared ownership [1].

Hoskinson emphasized that preparations are complete, with the snapshot already finalized. Eligible participants must claim tokens via the official portal within a 60-day window, after which unclaimed amounts will be reallocated to a Scavenger Mine system or Midnight’s treasury after four years [2]. The NIGHT token’s potential valuation of $10 billion—equating to approximately $0.41 per token—positions it as a contender among top 20 cryptocurrencies by market capitalization [1].

The airdrop underscores growing interest in cross-chain collaboration. Ripple’s CTO, David Schwartz, endorsed Midnight’s technology, suggesting synergies between XRP’s payment infrastructure and decentralized innovations [1]. However, the strategy has raised questions about verification processes and distribution fairness. Meanwhile, phishing scams exploiting the event’s popularity have emerged, mirroring past airdrop frauds and prompting warnings to verify details through official channels [2].

Analysts note that the airdrop could reinvigorate XRP’s relevance if Midnight delivers on use cases like cross-chain interoperability or DeFi tools. Past XRP airdrops, such as Flare’s, saw mixed engagement due to low activation rates, highlighting the need for clear utility and educational outreach [5]. The success of this distribution may depend on whether XRP holders integrate NIGHT tokens into their portfolios and actively engage with Midnight’s ecosystem [1].

The event reflects broader trends in crypto airdrops, where projects leverage established user bases to accelerate adoption. By targeting XRP’s large community, Midnight benefits from Ripple’s infrastructure credibility while fostering collaborative token economies. If successful, this model could inspire similar initiatives, further blurring lines between competitive and cooperative blockchain ecosystems [5]. Participants are urged to avoid third-party tools and monitor trading activity to assess the airdrop’s impact on liquidity and investor sentiment [1].

Sources:

[1] https://www.ainvest.com/news/xrp-news-today-xrp-holders-awarded-5-night-airdrop-strategic-cross-chain-collaboration-2507/

[2] https://coincentral.com/xrp-holders-set-to-receive-1-2b-night-tokens-in-historic-airdrop/

[5] https://www.ainvest.com/news/xrp-news-today-xrp-holders-awarded-5-night-airdrop-strategic-cross-chain-collaboration-2507/