{"id":492677,"date":"2025-08-05T23:00:24","date_gmt":"2025-08-05T22:00:24","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=492677"},"modified":"2025-08-05T22:02:15","modified_gmt":"2025-08-05T21:02:15","slug":"cardano-sidechain-midnight-starts-token-distribution-to-ada-xrp-btc-holders","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/cardano-sidechain-midnight-starts-token-distribution-to-ada-xrp-btc-holders\/","title":{"rendered":"Cardano sidechain Midnight starts token distribution to ADA, XRP, BTC holders"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Cardano privacy-focused sidechain Midnight Network has opened the Claim Phase of its NIGHT tokens.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Dubbed \u201cGlacier Drop,\u201d this phase will distribute NIGHT tokens to eligible wallets across eight blockchain ecosystems, according to an August 5 announcement. The launch follows publication of<\/span><strong><a href=\"https:\/\/45047878.fs1.hubspotusercontent-na1.net\/hubfs\/45047878\/Midnight-Tokenomics-And-Incentives-Whitepaper.pdf?utm_source=chatgpt.com\"> Midnight\u2019s tokenomics paper<\/a><\/strong><span style=\"font-weight: 400;\"> earlier this summer, which set out the network\u2019s distribution model and role for NIGHT.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Midnight stated that Glacier Drop will be a multi-phase, community-focused distribution intended to broaden access while resisting manipulation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After the current Claim Phase, a 30-day \u201cScavenger Mine\u201d will let newcomers perform on-chain work for unclaimed tokens, and a four-year \u201cLost-and-Found\u201d will enable late claims from original eligible wallets following mainnet launch.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Eligibility was determined by a June 11 snapshot. Wallets holding at least $100 in native tokens on <a href=\"https:\/\/cryptoslate.com\/coins\/bitcoin\/\">Bitcoin<\/a>, <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a>, <a href=\"https:\/\/cryptoslate.com\/coins\/cardano\/\">Cardano<\/a>, <a href=\"https:\/\/cryptoslate.com\/coins\/solana\/\">Solana<\/a>, <a href=\"https:\/\/cryptoslate.com\/coins\/bnb\/\">BNB<\/a> Chain, <a href=\"https:\/\/cryptoslate.com\/coins\/basic-attention-token\/\">Brave<\/a>, Ripple (<a href=\"https:\/\/cryptoslate.com\/coins\/xrp\/\">XRP<\/a> Ledger), or Avalanche can connect to the official claim portal and redeem an allocation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The window to claim remains open for 60 days, according to the project\u2019s announcement and portal guidance.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Midnight Foundation president Fahmi Syed stated:\u00a0<\/span><\/p>\n<blockquote><p><strong>\u201cThis airdrop is a rethink of how value and access can be distributed across chains, communities, and use cases and is designed to resist manipulation and encourage long-term engagement.\u201d<\/strong><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Participants can access the claim process via Midnight\u2019s official Glacier Drop portal by connecting a qualifying wallet and following the non-custodial flow.<\/span><\/p>\n<h2><strong>Tokens remain locked<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Claimed NIGHT does not unlock immediately. Once the mainnet is live, tokens will enter a Redemption Period that releases holdings in four random \u201cthaw\u201d events over 360 days, a structure designed to smooth supply and reward longer-term participation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Midnight TGE, the entity responsible for the initial NIGHT distribution in line with the network\u2019s decentralization plan, will administer the rollout. The team reiterated that users should verify they are using the official URL before connecting a wallet.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Midnight positions itself as a privacy-first network that uses zero-knowledge proofs and selective disclosure to let users share data when necessary while keeping sensitive information protected.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The project is being developed as a sidechain within the <a href=\"https:\/\/cryptoslate.com\/is-cardanos-plan-to-convert-part-of-ada-treasury-into-bitcoin-a-wise-move\/\">Cardano ecosystem<\/a>, providing interoperability while targeting data-protection use cases.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cardano privacy-focused sidechain Midnight Network has opened the Claim Phase of its NIGHT tokens. Dubbed \u201cGlacier Drop,\u201d this phase will distribute NIGHT tokens to eligible wallets across eight blockchain ecosystems, according to an August 5 announcement. The launch follows publication of Midnight\u2019s tokenomics paper earlier this summer, which set out the network\u2019s distribution model and [&hellip;]<\/p>\n","protected":false},"author":1511,"featured_media":492222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,77968,37,76736],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cardano sidechain Midnight starts token distribution to ADA, XRP, BTC holders<\/title>\n<meta name=\"description\" content=\"In addition, users who held at least $100 worth of SOL, AVAX, ETH, BNB, or BAT as of June 11 will also be eligible.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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