Cardano's Midnight begins the Airdrop of "NIGHT" Token on 8 Blockchains | CoinDesk JAPAN

• The Midnight network has started the first Token distribution phase of NIGHT for users of eight major Blockchains.
• This Airdrop, called "Glacier Drop", is available for wallets that held native Tokens worth over $100 at the time of the snapshot on June 11.
• NIGHT Token will be gradually unlocked after the launch of the Midnight mainnet, aiming to prevent speculative dumping.

The Midnight network, a privacy-focused sidechain in the Cardano ecosystem, has launched the first token distribution phase of NIGHT. It targets users from eight major blockchains and aims to reconstruct value distribution across chains.

The airdrop called "Glacier Drop" started on the 7th and is available to wallets that held native tokens worth more than $100 on Bitcoin, Ethereum, Solana, BNB Chain, Cardano, Avalanche, XRP Ledger, or Brave at the time of the snapshot on June 11.

Cardano (ADA) holders will receive the majority of the NIGHT airdrop, with 50% of the total supply allocated to ADA wallets. Next, 20% will be allocated to Bitcoin (BTC) holders, and the remaining 30% will be proportionally distributed to holders of Ethereum (ETH), XRP, Solana (SOL), Binance Coin (BNB), Avalanche (AVAX), and Basic Attention Token (BAT) based on the USD value at the time of the snapshot.

Unlike regular airdrops, NIGHT tokens cannot be traded immediately. Instead, after the Midnight mainnet goes live, the tokens will be unlocked through four random events within 360 days, aimed at preventing speculative dumping and promoting gradual engagement.

Airdrop consists of the following three phases.

1. Claim Phase: Current 60 days 2. Scavenger Mine: After the billing phase ends, for 30 days, rewards will be granted based on on-chain engagement for unclaimed NIGHT. 3. Lost-and-Found: Supporting delayed claims for 4 years after launch.

Midnight positions itself as a zero-knowledge smart contract network with selective information disclosure, merging privacy and transparency in regulated use cases.

The development of NIGHT is a collaborative and non-EVM native rare Airdrop targeting multiple Layer 1 ecosystems, potentially shaping future distribution mechanisms on privacy-focused chains.