As part of the Midnight initiative, known as Glacier Drop, there will be a token distribution for 37 million wallets across eight major blockchains, including Bitcoin and Ethereum. The initiative emphasizes a commitment to decentralization without the involvement of venture capitalists.
About Midnight Airdrop and Its Purpose
The token distribution is planned ahead of the launch of Midnight’s mainnet at the end of 2025 and emphasizes a user-first approach. Cardano founder Charles Hoskinson confirmed that the project will be entirely free from venture capital participation. *"No VCs, no pre-mine, no early allocation,"* Hoskinson stated, emphasizing the importance of transparency in token distribution.
NIGHT and DUST Tokens
The Midnight model will utilize two tokens: **NIGHT**, which serves governance functions, and **DUST**, a utility token for anonymous transactions and shielded smart contracts. DUST will be created proportionally from NIGHT, providing broader control over user privacy. The tokens will operate across chains without requiring complex token swaps.
Cross-Chain Integration and Its Benefits
Midnight presents a new approach that allows developers to pay transaction fees in native currencies such as ETH and BTC. This reduces friction for developers and encourages inclusive participation across all supported chains. Validators from the supported chains can participate in network security and earn rewards.
The Midnight initiative with the Glacier Drop targeting 37 million wallets highlights a shift in approaches to token distribution in the cryptocurrency community, focusing on decentralization and user interests. The exclusion of venture capital structures fosters a more equitable resource distribution among community participants.
