Midnight, a data protection blockchain from Input Output Global, organizes an airdrop campaign for all passionate crypto enthusiasts. The hints about the airdrop were first revealed by Cardano ADA’s founder Charles Hoskinson, the CEO of Input Output Global, in an AMA session on Sunday, November 17th.
As a sidechain under the Cardano ecosystem, Midnight is a product of years of research and development. This article will get into the details of Midnight, exploring its use cases and token details. Additionally, we will provide the eligibility criteria for the airdrop, check the launch date, and delve into additional insights.
What is Midnight?
Midnight’s whitepaper, called nightpaper, identifies itself as a new-generation blockchain technology that focuses on privacy, data protection, interoperability, and scalability. Institutions, developers, and other individuals can now build privacy-centered applications through Midnight.
Unlike most blockchains, Midnight uses a zero-knowledge proof (ZK) algorithm to safeguard the data and ownership. It verifies transactions and contracts without exposing the underlying data, making it a perfect system for institutions and industries that require high professional-level security.
At present, Midnight is in its testnet stage, calling all the developers to engage with its interface. The testnet, which went live on October 2024, provides a sandbox environment for users to experiment with creating privacy-focused on-chain applications. The mainnet launch is expected to happen at the beginning of 2025.
How Does Midnight’s Token System Work?
Midnight’s token system works through its nuanced dual-token model in which NIGHT and DUST coins will be introduced as governance and transaction tokens.
- NIGHT: It is a deflationary token with a fixed supply, primarily used as the governance token. Users can participate in the consensus decisions with this token and can grab it as a reward for block generation.
- DUST: Unlike NIGHT, DUST cannot be transferred as it is generated within the pool of NIGHT and destroys over time. The main intention behind DUST is to create a coin similar to the energy in the physical world.
What to Expect in the Future? The Roadmap of Midnight
After successfully deploying the devnet, the testnet phase went live last month. The conclusion of the testnet will mark the launch of the mainnet, which is expected in January 2024.
The first quarter of 2025 will witness the arrival of Midnight’s NIGHT tokens to prominent exchanges, and the 2025 plans in the roadmap signal a huge uptrend. This makes it worthy to participate in the airdrop.
How Does the Cardano Midnight Airdrop Work?
There are no details available officially about the upcoming airdrop. However, the obvious relationship between Cardano and the Midnight network suggests that ADA hodlers will have an advantage upon the airdrop launch. Also, the token details indicate that NIGHT will be the coin to be airdropped.
Charles Hoskinson’s AMA suggests that all those who engage with the Cardano Network and all those who participate in the Midnight Testnet will be rewarded with NIGHT tokens according to their eligibility.
Eligibility Criteria for the Midnight Airdrop
More details of the airdrop, including the eligibility criteria and distribution mechanism, have not yet been announced officially. It is expected that more than the priority to testnet users and ADA holders, there won’t be any specific eligibility criteria for the airdrop.
When to Expect Midnight Airdrop? Launch Date & Other Key Dates
The airdrop campaign is expected to go live before the launch of Midnight’s mainnet. So we will see it in December probably, and there is a chance for it to extend till the mainnet launch. The participation guidelines will be provided by us as soon as the campaign launches.
Apart from the airdrop, there are major events like Token Generation and Exchange Listing on the way, and all these are expected to happen within the first quarter of 2025.
Final Thoughts
Although the exact dates are not clear, Midnight’s airdrop campaign is one that you shouldn’t miss. The primary reason is that it is coming from a prominent network like Input Output Global, founded by the reputable Charles Hoskinson.
Follow the official social media handles of Midnight, Input Output, and Charles Hoskinson to get important updates on the airdrop. Also, participate in Charles Hoskinson’s AMA sessions on X (Twitter) and YouTube. Lastly, make sure you’ve researched well before investing in NIGHT or any other crypto assets.