Midnight Network Tokenomics Introduces Radically Accessible and Fair Token Distribution Model 

The Midnight Network Tokenomics Paper is published today, detailing the economic model that will underpin the Midnight Network—the privacy enhancing, zero knowledge smart contract blockchain—and introducing Glacier Drop, the multi-phase airdrop that initially allocates 100% of $NIGHT tokens to users across eight major blockchain ecosystems namely Bitcoin, Ethereum, Cardano, Solana, Binance Chain, Brave, Ripple, and Avalanche.

Published by the Midnight TGE, the paper introduces the $NIGHT token distribution framework, Glacier Drop, an entirely novel model for airdrops, from the claim period design through to the redemption mechanism. The $NIGHT token distribution framework – Glacier Drop – consists of three phases, beginning in July:

• Claim phase (60 days): 100% of tokens are allocated and available to eligible participants who hold a minimum balance in native tokens on one or more of the eight named networks (Bitcoin, Ethereum, Cardano, Binance Chain, Brave, Solana, Ripple and Avalanche).
• Scavenger Mine phase (30 days): Broadens participation by allowing anyone to contribute to Midnights launch by completing computational tasks, regardless of whether they were allocated $NIGHT in the Claim phase. 100% of the unclaimed tokens are available for scavenging through “Proof of Work” operations of the participants.
• Lost-and-Found phase (four years): After mainnet launch, original eligible wallets that missed the claim window can reclaim a portion of their allocation using self-directed methods.

The distribution of the tokens following the claim, known as the “Redemption Period”, prevents supply shock by unlocking (or “thawing”) tokens in four installments, each of which takes place at a random date within a 360-day window. This thawing mechanism is designed to reduce volatility and incentivize long-term network participation.

said Fahmi Syed, President of the Midnight Foundation. —

added Fahmi Syed.

Eligibility for the Glacier Drop is determined in advance via a snapshot. Wallets that held at least $100 USD worth of an eligible networks native token at the time of the snapshot will qualify. The Glacier Drop snapshot has already taken place and qualifying wallets have already been recorded. This requirement is designed to deter airdrop farming and Sybil attacks, ensuring the drop rewards genuine users of each ecosystem.

The release of the tokenomics paper follows the recent launch of the Midnight Foundation, a Cayman-based foundation, which is committed to supporting the growth and stewardship of the Midnight blockchain ecosystem.

About Midnight TGE

Midnight TGE is a token-generating entity responsible for the initial distribution of $NIGHT to network participants. Established to support the launch and decentralization of the Midnight ecosystem, the entity ensures tokens are allocated in accordance with the projects tokenomics and distribution schedule.

The Midnight Foundation is an organization dedicated to advancing the development, adoption, and real-world impact of the Midnight network, the privacy enhancing blockchain project developed in conjunction with Shielded Technologies. Designed for privacy enabling smart contracts, Midnight encourages developers to consider the power of building compliant applications with selective disclosures. It leverages zero-knowledge proofs and a cooperative tokenomics architecture—with $NIGHT as the utility token and DUST as the utility resource—to deliver a powerful combination of rational privacy, security, and decentralization.