Charles Hoskinson, the founder of Cardano, has responded to claims of hoarding Midnight tokens, emphasizing his strategic approach to token distribution.
Denial of Hoarding Claims
During the Glacier event announcing the Midnight token launch, Hoskinson addressed rumors of hoarding tokens. He highlighted that the initiative targets retail investors with no allocations for insiders or venture capitalists. 'Instead of doing an ICO or seeking venture funding, I will use my own personal funds to build, release, complete this project,' remarked Hoskinson.
Market Impact
Following the announcement, there was a notable increase in market activity. The price of ADA surged more than 15%, demonstrating investor optimism towards the initiative. Analysts noted a rise in on-chain liquidity and activity.
Strategic Exclusion of Insiders
The exclusion of insiders and institutional partners differentiates the Midnight project from typical airdrop initiatives. Hoskinson emphasizes the importance of cross-chain interoperability and privacy technologies. Although regulatory scrutiny is a possibility, there are currently no compliance reports involving SEC or CFTC regarding Midnight's privacy and governance measures.
The Midnight initiative, under Charles Hoskinson's leadership, showcases a new strategy of token distribution focused on retail investors, potentially influencing market trends and governance models in blockchain technology.
