Midnight Network Unveils NIGHT Tokenomics, ‘Glacier Drop’ Airdrop Mechanism
Midnight Network, a blockchain prioritizing user privacy through zero-knowledge smart contracts, has detailed its tokenomics and innovative airdrop mechanism, “Glacier Drop,” for its native NIGHT token. The airdrop, commencing next month, distributes NIGHT tokens across eight major blockchain ecosystems: Bitcoin, Ethereum, Cardano, Solana, Binance Chain, Brave, Ripple, and Avalanche.
The Glacier Drop unfolds in three phases. First, a 60-day claim period begins in July. Users holding at least $100 in native tokens of any of the supported blockchains at the time of a previously announced snapshot are eligible to claim their full allocation of NIGHT tokens. This snapshot has already been completed.
Following the claim period, a 30-day “Scavenger Mine” phase commences. This phase utilizes a proof-of-work-like mechanism, rewarding participants who complete computational tasks with any unclaimed NIGHT tokens. This incentivizes participation and ensures maximal token distribution.
Finally, a four-year “Lost-and-Found” phase will be implemented post-mainnet launch, later this year. This allows original claimants who missed the initial claim window to recover a portion of their allocation via a self-directed verification process.
To mitigate potential volatility stemming from a large, immediate token release, Midnight Network employs a “thawing mechanism.” NIGHT tokens unlock in four randomized installments over a 360-day period, promoting gradual market integration and encouraging long-term community engagement. This controlled release aims to prevent drastic price fluctuations and foster sustained network growth.
Fahmi Syed, president of the Cayman-based Midnight Foundation overseeing the project, emphasizes that this multi-phased approach aligns with Midnight Network’s philosophy of “rational privacy.” This approach provides developers with fine-grained control over on-chain data disclosure, prioritizing both security and user autonomy. Detailed information is available on midnight.network.
