According to Gate News bot and CoinDesk, Midnight Network has released its tokenomics paper and unveiled its "Glacier Drop" airdrop mechanism ahead of the distribution of its NIGHT native token starting next month. Midnight Network is a blockchain project focused on privacy protection and utilizing zero-knowledge smart contracts.
The project states that "Glacier Drop" is an innovative process that allocates all NIGHT Tokens to users of the eight major blockchain ecosystems, rolled out in three phases. These tokens will be issued on the Bitcoin, Ethereum, Cardano, Solana, Brave, Ripple, and Avalanche platforms.
First, during the 60-day claiming period starting from July, eligible wallets (i.e., wallets holding at least 100 USD of native tokens at the time of the pre-announced snapshot) can claim their full allocation.
Next is the 30-day "Scavenger Mine" phase, during which any unclaimed Tokens will be redistributed to participants who complete computational tasks using a proof-of-work-like mechanism.
After the mainnet launch later this year, it will enter a four-year "Lost-and-Found" phase, allowing original claimants who missed the initial window to recover part of their allocation through self-verification.
To avoid supply shocks, the NIGHT Token will be randomly unlocked in four phases over a period of 360 days. This "unfreezing mechanism" is designed to mitigate volatility and promote long-term interaction with the network.
Fahmi Syed, the chairman of the Midnight Foundation responsible for the project, stated that this approach embodies a broader vision of the network's "rational privacy," allowing developers to finely control which data is shared on the chain.
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Midnight Network announced the NIGHT tokenomics and the "Glacier Drop" airdrop mechanism.
According to Gate News bot and CoinDesk, Midnight Network has released its tokenomics paper and unveiled its "Glacier Drop" airdrop mechanism ahead of the distribution of its NIGHT native token starting next month. Midnight Network is a blockchain project focused on privacy protection and utilizing zero-knowledge smart contracts.
The project states that "Glacier Drop" is an innovative process that allocates all NIGHT Tokens to users of the eight major blockchain ecosystems, rolled out in three phases. These tokens will be issued on the Bitcoin, Ethereum, Cardano, Solana, Brave, Ripple, and Avalanche platforms.
First, during the 60-day claiming period starting from July, eligible wallets (i.e., wallets holding at least 100 USD of native tokens at the time of the pre-announced snapshot) can claim their full allocation.
Next is the 30-day "Scavenger Mine" phase, during which any unclaimed Tokens will be redistributed to participants who complete computational tasks using a proof-of-work-like mechanism.
After the mainnet launch later this year, it will enter a four-year "Lost-and-Found" phase, allowing original claimants who missed the initial window to recover part of their allocation through self-verification.
To avoid supply shocks, the NIGHT Token will be randomly unlocked in four phases over a period of 360 days. This "unfreezing mechanism" is designed to mitigate volatility and promote long-term interaction with the network.
Fahmi Syed, the chairman of the Midnight Foundation responsible for the project, stated that this approach embodies a broader vision of the network's "rational privacy," allowing developers to finely control which data is shared on the chain.