Midnight Network Launches NIGHT Tokenomics and Glacier Drop Airdrop Mechanism
Midnight Network announced its tokenomics paper and the 'Glacier Drop' airdrop for its native NIGHT token, set to begin next month. Key details include:
- The Glacier Drop allocates NIGHT tokens across eight blockchain ecosystems: Bitcoin, Ethereum, Cardano, Solana, Binance Chain, Brave, Ripple, and Avalanche.
- A 60-day claim period starts in July for eligible wallets holding at least $100 in native tokens during a pre-announced snapshot.
- A 30-day Scavenger Mine phase will redistribute unclaimed tokens through computational tasks using a proof-of-work-like mechanism.
- Post-mainnet launch, a four-year Lost-and-Found phase allows original claimants to recover missed allocations via self-directed verification.
- NIGHT tokens will unlock in four randomized installments over a 360-day period to reduce volatility.
Fahmi Syed, president of Midnight Foundation, stated this approach aligns with the network's vision of "rational privacy," allowing developers control over on-chain data sharing.