XRP News Today: Midnight Network Announces 37 Million Wallet Airdrop Across Eight Blockchains

Midnight Network, a privacy blockchain with connections to Cardano, has announced an upcoming airdrop of its NIGHT token to holders of various cryptocurrencies. The airdrop will include holders of XRP, Bitcoin, Solana, Cardano, Basic Attention Token, Avalanche, BNB Chain, and Ethereum. The distribution process is designed to be fair and inclusive, with those holding at least $100 worth of the native tokens across the listed blockchain networks eligible to claim the tokens.

Snapshots of random wallets across the eight different blockchain networks were taken on June 11, 2025, ensuring a wide distribution. This was confirmed by Cardano founder Charles Hoskinson, who stated, “The snapshot’s already been taken.” The airdrop is expected to benefit over 37 million wallets, marking one of the most significant multi-chain airdrops in crypto history.

The token prices will be based on the rates displayed on CoinMarketCap when the snapshots are taken, serving as a security measure to prevent unwanted bot activities and Sybil attacks. The NIGHT tokens will be shared gradually in three stages. The first stage, the Glacier drop, will allow qualified users to claim their full tokens within a 60-day window. The second stage, the Scavenger Mine, will see eligible participants claim the rest of the tokens by engaging in small computing tasks. The final phase, the Lost and Found, will allow those who missed out on earlier claims to reclaim a fraction of their original allocation by performing specific tasks within a given timeframe. Unclaimed tokens after this phase will go to the Midnight treasury.

According to the whitepaper, there is a cumulative supply of 24 billion NIGHT tokens. Cardano participants will receive 50% or 12 billion NIGHT, while Bitcoin holders will get 20% of the supply, totaling 4.8 billion tokens. The remaining supply will be distributed equally among holders of the other eligible assets, including XRP, ETH, BAT, BNB, SOL, and AVAX. XRP users, for example, will receive 1.4 billion NIGHT tokens. The amount each individual receives will depend on their holdings during the snapshot, with larger holders likely receiving more tokens.

Eligible airdrop participants will start receiving their tokens in July, with the first phase lasting for two months. The second phase, Scavenger Mine, will start immediately after and last for 30 days, while the Lost and Found phase is set to last for four years. 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 classified as a Thawing and Redemption Period and is likely implemented to prevent immediate dumping by claimants. In the next four years, 25% of the claimed tokens will be released across four installments for claimants. Claimants can either claim all their allotted tokens using the vesting schedule or wait till the end of the 360 days and claim at once. The claim portal will remain open for another 90 days after the last vesting to allow for redemptions for three extra months.