Midnight, a blockchain connected to Cardano, has launched an airdrop of NIGHT tokens for ADA holders. This article covers the claiming process and the significance of this initiative.
What Is Midnight and Why It Matters
Midnight is a fully integrated partner of Cardano that utilizes the Proof-of-Stake (PoS) consensus mechanism for its security and governance. The platform targets not only Cardano users but also holders of Ethereum, Bitcoin, Solana, and more. Currently, the focus is on the 'Glacier Drop,' the first phase of Midnight's token distribution plan. According to the project's documentation, 12 billion NIGHT tokens—half of the total supply—will be distributed among eligible users, with Cardano wallet holders being the primary beneficiaries.
How to Claim Your NIGHT Tokens
To be eligible for the Midnight airdrop, you needed to hold at least $100 worth of ADA in a Cardano wallet at the time of a prior snapshot. The claiming process is straightforward and gas-free; simply sign with your wallet and provide a clean Cardano address. This process does not involve KYC or any costs.
Prospects for NIGHT Tokens
The airdrop amount varies based on how much ADA you held compared to others. For instance, if you held 5,000 ADA, and the total eligible pool was 1.5 billion ADA, you would receive around 40,000 NIGHT tokens. If NIGHT reaches a market cap of $500 million, each token could be worth about $0.0208, meaning your 40,000 tokens could exceed $800. However, the claimed tokens will be locked for 60 days and will gradually become available during the Redemption period.
The airdrop of NIGHT tokens from Midnight marks a significant event for Cardano holders, reflecting the growth of the ecosystem and the potential value of such operations.
