Cardano-linked Midnight Network set to airdrop 24 billion NIGHT tokens to BTC, SOL and BTC holders

Midnight Network has announced that it will soon start airdropping its NIGHT token to XRP and Bitcoin holders. Apart from the two networks, Solana, Cardano, Basic Attention Token, Avalanche, BNB Chain, and Ethereum users will also get the token.

The zero-knowledge proofs privacy blockchain with connections to Cardano disclosed this in a post, stating that the distribution process is designed to be fair and inclusive. Those who have held at least $100 worth of the native tokens across the listed blockchain network before Midnight’s snapshot can claim the tokens.

Interestingly, Cardano has already taken some snapshots of random wallets across the eight different blockchain networks on the 11th of June, 2025, ensuring a wide distribution.  This was confirmed in a short video on X by Cardano founder Charles Hoskinson, who said, “The snapshot’s already been taken.”

This marks the beginning of arguably one of the most significant multi-chain airdrops in crypto history, with over 37 million wallets expected to benefit from this largesse.

The token prices will be based on the rates displayed on CoinMarketCap when the snapshots are taken. This is a security measure to prevent unwanted bot activities and Sybil attacks, ensuring a fair distribution and the safety of the process.

According to the whitepaper, the NIGHT tokens will be shared gradually in 3 stages. The first stage, the Glacier drop, will see qualified users claim their full tokens within a 60-day window.  Then, there will be a 30-day period when those people can claim the rest of the tokens by engaging in small computing tasks such as validating transactions or participating in the network’s consensus mechanism.

Lastly, the Scavenger Mine is the final phase, where those who missed out on earlier claims but are eligible can get back a fraction of their original allocation. Participants can reclaim their tokens in this phase by performing specific tasks, similar to small computing tasks, within a given timeframe. Unclaimed tokens after this phase will go to the Midnight treasury.

Cardano holders to get most of the airdrop supply

According to information from the released whitepaper, there is a cumulative supply of 24 billion NIGHT tokens.  Out of the 24 billion tokens, Cardano participants will receive 50% or 12 billion NIGHT. Bitcoin holders will also get 20% of the supply, totaling 4.8 billion tokens.

Meanwhile, the rest of the supply will be distributed equally (according to CoinMarketCap Data) among holders of the remaining eligible assets, including XRP, ETH, BAT, BNB, SOL, and AVAX. This means XRP users will get 1.4 billion NIGHT tokens.

What individuals will get will depend on their holdings during the snapshot. Thus, ADA and Bitcoin whales eligible for the airdrop will likely get the most NIGHT tokens. Unsurprisingly, ADA and other altcoins have seen a sizable jump in value over the last 24 hours.

Eligible airdrop participants will start getting tokens in July

Meanwhile, Midnight stated that participants can claim their NIGHT token allocation for the next two months, starting in July.  Once this phase has ended, the second phase, Scavenger Mine, will start immediately and last for 30 days, while the Lost and Found phase is set to last for four years.

However, all claimed tokens in the first two phases will be locked for a period, with vesting happening at 25% per unlock every 90 days for 360 days. This scheduled unlock has been classified as a Thawing and Redemption Period, and likely implemented to prevent immediate dumping on the part of the claimants. In the next four years, 25% of the claimed tokens will be released across four installments for claimants.

Interestingly, claimants can either claim all their allotted tokens using the vesting schedule or wait till the end of the 360 days and claim at once. The claim portal will remain open for another 90 days after the last vesting to allow for redemptions for three extra months.

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