Charles Hoskinson, the founder of Cardano, announced a strategic step aimed at XRP investors through the launch of a 1.2 billion NIGHT token airdrop.
Enhancing Privacy with the Cardano-XRP Collaboration
During a recent AMA session, Hoskinson elaborated on the vision for Midnight, which will introduce smart contract capabilities to the XRP Ledger. The lack of smart contracts in XRP has limited users' access to decentralized finance opportunities. Zero-knowledge proofs allow contract execution without revealing parties' identities and transaction details, balancing regulatory concerns with security needs.
1.2 Billion NIGHT Coin Distribution for XRP Holders
Midnight’s decentralized governance coin, NIGHT, is being launched through a comprehensive airdrop campaign totaling 1.2 billion coins. The two-phase distribution, known as Midnight Drop and Glacier Drop, will automatically include addresses holding at least $100 in XRP by June 11, 2025. Eligible participants can manage their coins directly via the Lace Wallet until the main network is activated.
Technical Details of Integration and Future Plans
The Cardano team is enhancing the Lace Wallet to incorporate XRP, allowing users to track multiple assets from a single interface. Technical preparations are underway to bring Ripple’s RLUSD stablecoin into the Cardano ecosystem, creating a reliable liquidity pool for DeFi protocols. Upon the activation of the Midnight main network, bridges to Ethereum, Solana, and Avalanche will be opened.
The collaboration between Cardano and XRP opens new horizons for decentralized finance, offering improved liquidity and opportunities for users, which should contribute to the further development of both ecosystems.
