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Highlights
- Fresh reports indicate that the snapshot for the Midnight Glacier Drop is complete.
- Eligible addresses cut across eight blockchains including XRP, BTC, and ETH.
- Cardano founder Charles Hoskinson previously revealed that NIGHT will be distributed across 37 million wallets.
After months of anticipation, the Midnight Glacier airdrop is drawing closer with the completion of its snapshot. Holders of XRP, BTC, ETH, and five other tokens at the time of the snapshot will receive NIGHT tokens.
Midnight Glacier Drop Snapshot Complete
Cardano founder Charles Hoskinson announced the completion of the Midnight Glacier Drop snapshot in a post on X. Users captured in this snapshot across eight blockchains will be eligible to receive NIGHT and DUST tokens.
These include holders of ADA, BTC, ETH, XRP, SOL, and BNB. Moreover, the Midnight Glacier Drop also extends to BAT and AVAX holders, with NIGHT and DUST tokens set to be distributed among 37 million retail users.
Midnight Network is utilizing the Glacier Drop to distribute all NIGHT governance tokens across eight major blockchains. The privacy-focused project has received backing from Cardano, with Hoskinson supporting the initiative. He revealed details of the Midnight Glacier Drop at Consensus 2025.
Token Allocations Per Midnight’s Whitepaper
According to Midnight’s whitepaper, individual token allocations will be determined by address balances at the time of the snapshot. The snapshot’s completion initiates a 60-day claim period starting in July, allowing users holding at least $100 in native tokens to claim their allocation.
Additionally, the tokenomics outline a month-long “Scavenger Mine” phase to redistribute unclaimed tokens to participants who complete computational tasks. Upon mainnet launch, a four-year “Lost-and-Found” phase will begin, enabling claimants to reclaim their allocations.
To prevent mass dumping, Midnight Glacier airdrop participants will receive NIGHT tokens in four randomized phases over a year. This distribution system is designed to promote long-term engagement, with developers learning from the outcomes of previous airdrops.
Following the Leois Upgrade hype, which failed to boost ADA, Cardano has now risen nearly 2% after the airdrop announcement. At press time, Cardano is trading at $0.53, gradually recovering after yesterday’s broader crypto market crash.
Investors are also keeping a close eye on Kraken’s Ink Foundation Airdrop, which features anti-farming and Sybil resistance mechanisms.
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