Midnight-td token distribution

Glacier Drop claim is now Live

Glacier Drop, the first claim phase of the NIGHT token distribution, is now open to eligible participants. Claim now and secure your place in the future of Midnight-td.

Claim Now

How to get night

Multi-phase token distribution

NIGHT token allocations will be granted for free to eligible participants through a multi-phase token distribution: no purchase is involved.

The distribution will consist primarily of three Claim phases and a Redemption period, giving a broad community of users multiple opportunities to participate.

Claims

Participants claim their token allocations by demonstrating they meet the eligibility criteria for each phase.

Redemption

Claimants then redeem their tokens as they thaw (unlock) during the Redemption period, thus transferring their tokens to their Destination Address.

How to claim

Token allocations

The allocation of the NIGHT token supply will follow the three claim phases below. Community participation levels during each phase will determine allocations towards core network constituents.

Claim phase 1: Glacier Drop

Up to 100% of the total supply claimable by eligible Glacier Drop participants in proportion to tokens held across key networks as per the breakdown below. Unclaimed tokens carry over to the next phase.

50% of the supply allocated to ADA holders

20% of the supply allocated to BTC holders

30% split among holders of ETH, SOL, XRP, BNB, AVAX, and BAT, in proportion to their relative USD value

Claim phase 2: Scavenger Mine

Details coming soon...

Claim phase 3: Lost-and-Found

Details coming soon...

Dual-component tokenomics

Midnight-td introduces a composite system where NIGHT, the native token, continually generates DUST, the shielded network resource that powers transactions. This segregation enables metadata protection and promotes sustainable operations.

There's no capital expenditure for executing transactions: NIGHT holders can effectively transact on Midnight-td for free for as long as they hold enough tokens to generate the minimum required DUST.

Read tokenomics whitepaper Read MiCA Whitepaper

NIGHT

NIGHT is the utility token and the main component driving the Midnight-td economic system.

NIGHT utility

Generating DUST resources to power transactions
Promoting network security as block production rewards
Enabling decentralized on-chain governance (expected)
Driving ecosystem growth initiatives (expected)

What is the NIGHT token?

NIGHT is the native utility token of the Midnight-td network.

Token supply

24 billion NIGHT tokens minted on Cardano, which are mirrored on the Midnight-td network.

Disinflationary

The expansion of the circulating supply via block rewards slows down over time, until the total supply is circulating and no more inflation occurs.

Non-expendable

NIGHT is not expendable to execute transactions, nor destroyed/burned during the exercise of its functions.

Multi-chain

In contrast with wrapped token representations, NIGHT exists natively and maintains the same properties and rights both on Cardano and on Midnight-td.

DUST

DUST is the shielded and renewable network resource whose single function is to allow users to execute transactions on Midnight-td.

Shielded

DUST allows for transactions to take place without exposing metadata.

Consumable

DUST is consumed when used – meaning it is destroyed and does not cycle back into circulation.

Renewable

DUST is continually generated by NIGHT balances in perpetuity.

Decaying

A DUST balance decays when disassociated from the NIGHT address that generates it, meaning it cannot act as a store of value.

Non-transferrable

DUST cannot be transferred between addresses – insulating it from volatility and strengthening its sole utility.

Timeline

Claim phase 1

Glacier Drop

Duration: 60 days

Claim phase 2

Scavenger Mine

Duration: 30 days

Thawing & Redemption period

Duration: 450 days

Claim phase 3

Lost-and-Found

Duration: 4 years

NIGHT Claim Portal sunsetting