Midnight Network has announced its Glacier Drop initiative, distributing NIGHT tokens to holders of multiple cryptocurrencies through a privacy-centric airdrop featuring structured vesting periods.
The distribution follows a two-token system outlined in Midnight’s 45-page tokenomics paper. Up to 100% of NIGHT tokens will be allocated to verified holders of ADA, BTC, ETH, XRP, SOL, BNB, AVAX, and BAT, with Cardano ADA holders receiving half the total allocation. Eligibility requires holding over $100 worth of qualifying assets during the June 11 snapshot.
Claimed NIGHT tokens will be secured in Cardano-based redemption smart contracts, releasing 25% every 90 days across a 360-day vesting schedule. This mechanism prevents immediate sell pressure while ensuring gradual distribution.
The network utilizes zero-knowledge proof technology to maintain transaction privacy throughout the process. Midnight Network also confirmed its mainnet launch will commence 90 days after the Glacier Drop phase concludes.