Midnight Network, a privacy-focused sidechain in the Cardano ecosystem, has initiated its first token distribution phase for NIGHT, targeting users across eight major blockchains to reframe cross-chain value allocation.
Dubbed the “Glacier Drop,” the airdrop is live as of Wednesday and available to wallets that held at least $100 in native tokens on Bitcoin, Ethereum, Solana, BNB Chain, Cardano, Avalanche, XRP Ledger, or Brave as of a June 11 snapshot.
Cardano holders are receiving the bulk of the NIGHT airdrop, with 50% of total supply allocated to ADA wallets. Bitcoin (BTC) holders follow with 20%, while the remaining 30% is distributed proportionally among ether (ETH), XRP (XRP), Solana’s SOL (SOL), BNB (BNB), AVAX (AVAX), and BAT (BAT) holders based on USD value at the snapshot.
Unlike typical airdrops, NIGHT tokens won’t be tradable immediately. Instead, after Midnight mainnet goes live, tokens will unlock over four randomized events within a 360-day window, aiming to prevent speculative dumping and enforce staggered engagement.
📖 Related Reading
- 📰 CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
- 📰 Asia Morning Briefing: BTC Slips Below $110K as ‘Signs of Fatigue’ Emerging
The drop is structured in three phases:
- Claim Phase – current 60-day window
- Scavenger Mine – a 30-day post-claim period rewarding on-chain engagement for unclaimed NIGHT
- Lost-and-Found – a four-year window for late claims after launch
Midnight positions itself as a zero-knowledge smart contract network with selective disclosure, blending privacy and transparency in regulated use cases.
The NIGHT rollout marks a rare coordinated, non-EVM-native airdrop targeting multiple Layer 1 ecosystems, and could shape future distribution mechanics for privacy-focused chains.
🔗 You Might Also Be Interested In
CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
Asia Morning Briefing: BTC Slips Below $110K as ‘Signs of Fatigue’ Emerging
Bitwise CIO on Ether’s ‘Demand Shock’: Why ETH’s Rally Has Staying Power
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!