XRP Holders Set to Bag NIGHT Tokens in Cardano Midnight Airdrop

XRP holders are set to benefit from the Midnight Network's "Glacier Drop" airdrop, allowing them to claim NIGHT tokens. This privacy-focused blockchain, connected to Cardano, aims to distribute its entire 24 billion token supply to users across multiple major networks, including Bitcoin, Ethereum, and XRP, promoting broad community participation.

Midnight Network's Ambitious Airdrop

The Midnight Network, a new privacy and data protection blockchain, has unveiled its ambitious "Glacier Drop" airdrop, making 100% of its 24 billion NIGHT tokens available to claimants. This initiative aims to address the limitations of traditional tokenomic models by ensuring a wide distribution rather than concentrating control among early investors. The airdrop targets users across eight major blockchain networks, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), XRP Ledger (XRP), Solana (SOL), BNB Chain (BNB), Avalanche (AVAX), and Basic Attention Token (BAT).

The airdrop is designed to foster broad community participation and decentralization.

Eligibility and Allocation for XRP Holders

To be eligible for the NIGHT token airdrop, users must have held at least $100 worth of supported assets, including XRP, as of a June 11 snapshot. The total supply of 24 billion NIGHT tokens will be distributed with specific allocations:

50% allocated to Cardano (ADA) holders.
20% allocated to Bitcoin (BTC) holders.
30% split among other eligible blockchains, including XRP, Ethereum, Solana, BNB Chain, Avalanche, and Basic Attention Token.

For XRP holders specifically, 1.2 billion NIGHT tokens are earmarked from the 30% allocation, which is shared equally among XRP, ETH, SOL, BNB, AVAX, and BAT holders.

Phased Distribution and Vesting Schedule

The Glacier Drop will unfold in three sequential phases to manage distribution and prevent immediate sell-offs:

Initial Claim Phase: A 60-day period starting in July 2025, during which eligible wallets can claim their full allocation.
Scavenger Mine Phase: A 30-day phase where unclaimed tokens are redistributed to participants who complete computational tasks.
Lost-and-Found Phase: A four-year window allowing original claimants who missed the initial window to recover a portion of their allocation. Any tokens remaining unclaimed after this period will be allocated to the protocol's on-chain treasury.

To ensure market stability, claimed NIGHT tokens will be locked in a Cardano smart contract and will gradually unlock. Only 25% of the tokens will be released every 90 days, completing the full unlock over a 360-day period. This "thawing mechanism" is intended to mitigate volatility and encourage long-term engagement with the Midnight Network.

Midnight Network's Vision for Privacy

Midnight Network emphasizes privacy through the use of zero-knowledge proofs, enabling selective data disclosure while safeguarding wallet and transaction information. This focus on "rational privacy" allows developers granular control over on-chain data sharing. Cardano founder Charles Hoskinson has highlighted Midnight as a crucial step into the fourth generation of blockchain technology, where privacy is not just a feature but a necessity for the growth of decentralized finance (DeFi). The network is currently on testnet, with its mainnet launch anticipated 90 days after the Glacier Drop.

Sources

Midnight Network Plots NIGHT Airdrop for Users of Bitcoin, Ethereum, Cardano and Beyond, Decrypt.
Cardano Founder Announces Midnight Airdrop For 37 Million User, The Crypto Times.
Midnight Glacier Airdrop, Coinbase Lists ADA on Base, Cardano News Updates, YouTube · Learn Cardano.
How XRP Holders Can Bag NIGHT Tokens in Cardano Midnight Airdrop, The Crypto Times.
Midnight Network Unveils NIGHT Tokenomics, 'Glacier Drop' Airdrop Mechanism, Yahoo Finance.

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