Midnight and Its Role in the Cardano Ecosystem
Midnight is a fully integrated sidechain with Cardano, leveraging Cardano's Proof-of-Stake consensus mechanism to ensure network security and governance. Midnight's greatest advantage is its robust multi-chain strategy, targeting not only Cardano users but also extending to wallet holders on Ethereum, Bitcoin, Solana, and many other chains.
The current hotspot is the 'Glacier Drop' – the first phase in the distribution plan for NIGHT Tokens by Midnight. According to the project’s whitepaper, a total of 12 billion NIGHT Tokens – accounting for 50% of the total supply – will be given away for free to eligible users, with Cardano wallets being the largest beneficiary group.
Catalyst Growth for Cardano Is More Than Just An Airdrop
Midnight is not just a standalone project but is deeply integrated into the architecture of Cardano. The NIGHT token is minted directly on the Cardano network, allowing stake pool operators (SPOs) the opportunity to earn NIGHT without affecting ADA rewards.
With solid tokenomics, practical utility, and multi-chain support capabilities, Midnight could be the necessary boost for Cardano to reclaim the spotlight in the cryptocurrency space.
Guide to Receiving Free NIGHT Tokens
Users eligible to receive the Midnight airdrop must hold at least 100 USD worth of ADA in their Cardano wallet at the time of the previous snapshot. The token claiming process is very simple, incurs no gas fees, just requires signing with the wallet and providing a clean Cardano address.
Notably, there is no need to perform KYC or pay any fees.
The Number of NIGHT Tokens You Can Receive
The amount of NIGHT Tokens each recipient receives depends on the ratio of ADA they hold compared to the total eligible pool. For example, if you hold 5,000 ADA while the total eligible ADA is 1.5 billion, you will receive about 40,000 NIGHT.
Potential Value of NIGHT Tokens
If NIGHT reaches a market capitalization of 500 million USD, each Token could be valued at 0.0208 USD, meaning that 40,000 free NIGHT could be worth over 800 USD. However, this Token will not be usable immediately.
A period of 60 days is set for users to claim the Tokens, after which the Tokens will be locked and will gradually 'thaw' during the Redemption phase, allowing holders to access and use the Tokens over time.
Source: https://tintucbitcoin.com/nhan-token-night-mien-phi-hom-nay/
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