Good morning/evening
I have recently heard about an airdrop of something called NIGHT which is the token from Midnight Network so I thought I would take a look at it. It looks like you can get the token if you hold a variety of tokens, but only if you self custody.
It seems that there has already been a snapshot, although I have not completely got my head around that yet, how can there have been a snapshot? I am sure someone can explain that to me, my bad, because I should have got my head around it!
What is Midnight
Midnight is a next generation, privacy focused blockchain built as a partner chain to Cardano. It uses zero knowledge proofs (ZK) to hide transaction details and metadata, while still allowing compliance and corporate usage. It is going to try and balance privacy with regulatory needs, enable predictable gas fees regardless of volatility, encourage broad cooperative participation through a fair token distribution and bring Cardano Stake pool operators into a privacy orientated partner network.
The Midnight network wants to be the private layer of web 3 where devs can build apps with built in privacy, where users can interact without exposing all their details and enterprises can adopt blockchain technology without regulatory risk. They plan to do this with private smart contracts that use Zero Knowledge Proofs so that data stays private but it is still verifiable and lets you prove you followed the rules without exposing all of your personal data.
Tokens
MIdnight network has a dual token economy.
NIGHT token is the main public token minted on Cardano with a total supply of 24 billion, it will be used for governance and staking.
DUST token is private and you generate dust by holding NIGHT, DUST will be used as the gas fee token.
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Hold NIGHT → generate DUST over time into a separate DUST address.
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DUST is burned when used to pay fees, NIGHT stays untouched.
Airdrop
It looks as though there are 3 stages to this and the date has not been confirmed yet.
https://www.midnight.gd/how-to-get-night#claim
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Glacier Drop: 100% of NIGHT (24 B) is claimable for holders of BTC, ETH, ADA, SOL, XRP, BNB, AVAX, and BAT (minimum $100 holdings at snapshot)
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Scavenger Mine: Unclaimed tokens distributed via computational tasks.
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Lost‑and‑Found: Final chance to claim leftover tokens post mainnet.
There is a link to the claim page on the official Midnight Network site but it looks like this.
Once you have claimed it looks as though there is an unlock or 'thawing' period.
My thoughts
Now what I will say is that at the moment this is just my first stage research and please DYOR before adding wallet addresses, I am just sharing what I have found so far and I will do more research before I link a self custody wallet address to anything, if I even do it at all. If you like algebra and complex white papers then please feel free to take a look at all 44 pages of it here Midnight-Tokenomics-And-Incentives-Whitepaper.pdf
I am interested enough in this to take a further, deeper look at this but as I said, I will not rush into anything, if I miss out so be it but I would rather make sure everything is ok before I leap feet first into something for a few free tokens. There is a 60 day claim window which should give me time to look more into this and that will be once the dare has been announced, which it hasn't yet.
Remember, please DYOR before connecting your wallet to anything. I still may not even try to claim even after more research!
As always thank you for reading and if you have taken a look at the midnight network or the Night token airdrop please feel free to share your thoughts in the comments, is there anything I have missed as airdrops are not normally my 'thing'?
