Cardano founder Charles Hoskinson announced two campaigns for the distribution of NIGHT tokens, aimed at users in the Midnight ecosystem.
Announcement of the NIGHT Drop Campaign
Hoskinson revealed the Midnight Drop and Glacier Drop campaigns, which will distribute a combined 1.2 billion NIGHT tokens, the governance and utility token for the Midnight ecosystem.
Eligibility Criteria for XRP Holders
To qualify, participants must have held at least $100 worth of XRP in a supported wallet as of June 11, 2025. This snapshot date locks in eligibility, and token claims will begin in the weeks ahead.
Functionality and Purpose of the NIGHT Token
The NIGHT token will serve as the foundation for privacy-preserving smart contracts and DeFi applications running on Midnight, enabling features like staking, governance, and private on-chain transactions.
The airdrop of NIGHT tokens for XRP holders is part of Cardano's broader strategy to integrate its smart contracts with XRP’s global liquidity, creating opportunities for cross-chain DeFi.
