1 week ago
Cardano privacy-focused sidechain Midnight Network has opened the Claim Phase of its NIGHT tokens.
Dubbed “Glacier Drop,” this signifier volition administer NIGHT tokens to eligible wallets crossed 8 blockchain ecosystems, according to an August 5 announcement. The motorboat follows work of Midnight’s tokenomics paper earlier this summer, which acceptable retired the network’s organisation exemplary and relation for NIGHT.
Midnight stated that Glacier Drop volition beryllium a multi-phase, community-focused organisation intended to broaden entree portion resisting manipulation.
After the existent Claim Phase, a 30-day “Scavenger Mine” volition fto newcomers execute on-chain enactment for unclaimed tokens, and a four-year “Lost-and-Found” volition alteration precocious claims from archetypal eligible wallets pursuing mainnet launch.
Eligibility was determined by a June 11 snapshot. Wallets holding astatine slightest $100 successful autochthonal tokens connected Bitcoin, Ethereum, Cardano, Solana, BNB Chain, Brave, Ripple (XRP Ledger), oregon Avalanche tin link to the authoritative assertion portal and redeem an allocation.
The model to assertion remains unfastened for 60 days, according to the project’s announcement and portal guidance.
Midnight Foundation president Fahmi Syed stated:
“This airdrop is simply a rethink of however worth and entree tin beryllium distributed crossed chains, communities, and usage cases and is designed to defy manipulation and promote semipermanent engagement.”
Participants tin entree the assertion process via Midnight’s authoritative Glacier Drop portal by connecting a qualifying wallet and pursuing the non-custodial flow.
Tokens stay locked
Claimed NIGHT does not unlock immediately. Once the mainnet is live, tokens volition participate a Redemption Period that releases holdings successful 4 random “thaw” events implicit 360 days, a operation designed to creaseless proviso and reward longer-term participation.
Midnight TGE, the entity liable for the archetypal NIGHT organisation successful enactment with the network’s decentralization plan, volition administer the rollout. The squad reiterated that users should verify they are utilizing the authoritative URL earlier connecting a wallet.
Midnight positions itself arsenic a privacy-first web that uses zero-knowledge proofs and selective disclosure to fto users stock information erstwhile indispensable portion keeping delicate accusation protected.
The task is being developed arsenic a sidechain wrong the Cardano ecosystem, providing interoperability portion targeting data-protection usage cases.
The station Cardano sidechain Midnight starts token organisation to ADA, XRP, BTC holders appeared archetypal connected CryptoSlate.
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