Midnight Network has just announced that it will airdrop NIGHT Tokens to XRP and Bitcoin holders. Notably, investors on Solana, Cardano, Basic Attention Token, Avalanche, BNB Chain, and Ethereum will also receive this Token.
This zero-knowledge proof blockchain connected to Cardano announced on its homepage that the distribution process is designed to be fair and inclusive. Those who own a minimum of $100 of the native tokens on each listed blockchain network before Midnight's snapshot will be eligible to receive the tokens.
Interestingly, Cardano took random snapshots of wallets across eight different blockchain networks on June 11, 2025, ensuring a wide distribution. This was confirmed via a short video on X by Cardano founder Charles Hoskinson, who stated: “The snapshot has been taken.”
This is considered one of the largest multi-chain airdrops in cryptocurrency history, with more than 37 million wallets expected to benefit from the distribution program.
The NIGHT Token value will be based on the CoinMarketCap rate at the time of snapshot. This is a security measure to prevent bots and Sybil attacks, ensuring fairness and safety for the distribution process.
According to the whitepaper, NIGHT Tokens will be divided into 3 phases. In the first phase, Glacier drop, eligible users will receive all Tokens within 60 days. Then, in the next 30 days, users can receive the rest by performing small computational tasks such as verifying transactions or participating in the network's consensus mechanism.
Finally, the Scavenger Mine phase is for those who did not receive Tokens in previous phases but are eligible, allowing them to reclaim a portion of the original Tokens by completing similar technical tasks. Tokens not claimed after this phase will be transferred to the Midnight Treasury.
Cardano representatives account for the largest share of the airdrop
The whitepaper shows that the total supply is up to 24 billion NIGHT tokens. Of which, 50% of the supply, equivalent to 12 billion NIGHT, will be reserved for Cardano investors. Bitcoin holders receive 20% of the total supply, equivalent to 4.8 billion tokens.
The rest is distributed evenly according to CoinMarketCap data to XRP, ETH, BAT, BNB, SOL, and AVAX holders. XRP users are expected to receive around 1.4 billion NIGHT Tokens.
The amount of Tokens received will depend on the balance at the time of snapshot. Therefore, eligible ADA and Bitcoin whales will receive the maximum Token share. It is understandable that ADA and these altcoins have increased sharply in price in the past 24 hours.
Eligible participants will start receiving Tokens from July
Midnight said that eligible users can start receiving NIGHT Tokens in the first 2 months, starting in July. After that, the Scavenger Mine phase begins for 30 days and the Lost and Found phase continues for 4 years.
All Tokens received in the first two phases will be locked, with a vesting mechanism of 25% each unlock in a 90-day cycle for 360 days. This is the Thawing and Redemption period to limit the immediate dumping of Tokens.
Over the next 4 years, 25% of the Tokens received will be released in 4 installments, allowing holders to effectively manage the supply.
Recipients can choose to receive Tokens according to the vesting schedule or wait until the end of 360 days to receive them in one go. The Token Portal requires that Tokens remain open for an additional 90 days after the final vesting period to support Token redemption.
Source: https://tintucbitcoin.com/airdrop-midnight-thuong-lon-cho-nha-dau-tu/
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