XRP News Today: XRP Holders to Receive 5% of 1.2 Billion NIGHT Tokens in Historic Airdrop

Cardano founder Charles Hoskinson has announced a historic token distribution initiative dubbed the "Glacier Drop," targeting holders of ADA and XRP as part of a broader cross-chain collaboration. The event, linked to Midnight—a sidechain project under Input Output Global—aims to distribute 1.2 billion NIGHT tokens across 37 million accounts, marking what Hoskinson calls the "largest airdrop ever." Eligible participants include holders of Bitcoin, Ethereum, Cardano, XRP, Avalanche, Binance Coin, and Brave’s Basic Attention Token, with XRP holders receiving 5% of the total NIGHT token supply [1]. The airdrop is structured to incentivize participation in a dual-token model, where NIGHT functions as a governance token and DUST facilitates private transactions [2].

The initiative reflects a strategic shift toward interoperability, with Midnight positioning itself as a bridge between blockchain ecosystems. XRP’s inclusion is particularly significant, as it signals growing synergy between Ripple and Cardano. Hoskinson revealed that XRP will be integrated into Midnight’s ecosystem, allowing users to pay for capacity or execute smart contracts using the asset. Ripple’s CTO, David Schwartz, noted that Midnight’s privacy-focused technology could complement XRP’s payment network, highlighting potential synergies between established and emerging blockchain systems [3].

Eligibility is determined by a June 11 snapshot, with XRP holders who maintained at least $100 in their wallets during this period qualifying for the airdrop. The claim period opened on July 15 and remains active until mid-September, after which unclaimed tokens will be allocated to Midnight’s Scavenger Mine or treasury after four years [1]. While the streamlined approach simplifies participation, it has also raised concerns about equitable distribution and verification mechanisms. Security warnings are prevalent, with reports of phishing scams exploiting the airdrop’s popularity, echoing past crypto-related fraud patterns [4].

Analysts suggest the airdrop could reignite interest in XRP, particularly if Midnight delivers on promised use cases like cross-chain interoperability or DeFi tools. However, previous XRP airdrops, such as Flare’s, saw mixed engagement due to low activation rates. The success of this distribution may depend on whether XRP holders integrate NIGHT tokens into their portfolios and actively engage with Midnight’s ecosystem [5]. The event aligns with broader trends in crypto airdrops, where projects increasingly target established user bases to accelerate adoption. By leveraging XRP’s large and active community, Midnight bypasses the challenge of acquiring new users while benefiting from Ripple’s infrastructure credibility. If successful, this model could inspire similar cross-chain initiatives, further blurring lines between competitive and collaborative token economies [5].

Participants are advised to verify details through official channels and avoid third-party tools to mitigate scam risks. While the Midnight team has not disclosed future plans for the token, market observers will likely monitor trading activity in NIGHT and XRP to assess the airdrop’s impact on liquidity and investor sentiment. For now, the event marks a significant milestone for XRP holders, offering tangible rewards for their participation in Ripple’s ecosystem [1].

Sources:

[1] [title1] [https://coinpedia.org/news/xrp-holders-to-see-biggest-airdrop-heres-how-to-claim/]

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