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Charles Hoskinson revealed details about the Midnight project airdrop.
Charles Hoskinson revealed details about the Midnight project airdrop
Midnight sidechain tokens, focused on privacy and data protection in the Cardano ecosystem, will be distributed among 37 million wallets across eight blockchains. This was stated by the network's founder Charles Hoskinson, CoinDesk reports.
Users will receive governance tokens NIGHT and utility assets DUST.
The Midnight economic model is aimed at providing cross-chain interaction: developers will be able to pay rewards in native tokens, while validators will receive income from various blockchains.
According to the entrepreneur's concept, the giveaway called Glacier Drop will enhance cooperation in the community and stand against so-called tribalism.
The airdrop is intended only for retail users, with no participation from venture firms and early investors. Hoskinson "told the last category to go to hell," citing "a lack of time for Ponzi schemes."
Recipients of NIGHT and DUST will be able to store, exchange, or sell them, explained the entrepreneur.
Glacier Drop embodies Hoskinson's vision of the "cooperative economy" concept. The new Midnight model will allow the creation of hybrid dapps, enabling users to pay fees in their native coins.
Ethereum developers will pay in ETH, Solana developers — in SOL, and Bitcoin developers — in BTC, Hoskinson explained.
Validators from different chains can jointly support the blockchain, receiving rewards regardless of their "registration."
The Midnight team has launched a testnet, with the mainnet launch expected by the end of 2025.
Hoskinson believes that Glacier Drop, cooperative economics, and rational privacy are essential components for attracting billions of users in light of the arrival of large technology companies in the industry.
Recall that in May, the founder of Cardano hinted at a possible release of a stablecoin with a level of privacy comparable to cash.