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Crypto Prune > News > Crypto > Bitcoin > Cardano Sidechain Midnight begins to distribute tokens to ADA, XRP, and BTC holders
Bitcoin

Cardano Sidechain Midnight begins to distribute tokens to ADA, XRP, and BTC holders

5 months ago 3 Min Read

Cardano privacy-focused Sidechain Midnight Network has opened the billing phase for Night Tokens.

The phase, known as “Glacier Drops,” will distribute night tokens to wallets eligible for eight blockchain ecosystems, according to an announcement from August 5th. The release continues with the release of Midnight Toconomic Paper Earlier this summer, we set up a distribution model for the network and nighttime roles.

Midnight said the Glacier Drop is a community-centric distribution aimed at widening access while resisting operations.

After the current billing phase, a 30-day “scavenger mine” will allow new entrants to perform on-chain work on unclaimed tokens, and four years of “loss” will allow late billing from the original eligible wallet after the launch of the mainnet.

Eligibility was determined by the June 11 snapshot. Wallets that hold at least $100 in Bitcoin, Ethereum, Cardano, Solana, BNB Chain, Brave, Ripple (XRP ledger), or Avalanche native tokens can connect to the official claims portal to redeem their allocations.

According to project announcements and portal guidance, the claimed window remains open for 60 days.

Fami Said, president of the Midnight Foundation, said:

“This airdrop is a rethinking of how value and access can be distributed to chains, communities and use cases, designed to resist operations and encourage long-term engagement.”

Participants can access the billing process through Midnight’s official Glacier Drop Portal by connecting eligible wallets and following incompromising flows.

The token remains locked

The claimed night does not immediately unlock. When the mainnet goes live, the token enters the redemption period to release the holdings with four random “thaw” events over 360 days.

See also  Strategy Michael Saylor filed lawsuit to showcase his next Bitcoin acquisition

Midnight TGE, the entity responsible for the early night distribution along with the network’s decentralization plan, manages the deployment. The team has repeatedly said that users need to make sure they are using the official URL before connecting their wallets.

Midnight positions itself as a privacy-first network that uses zero knowledge proof and selective disclosure to protect sensitive information while allowing data to be shared when needed.

The project is being developed as a sidechain within the Cardano ecosystem, providing interoperability while targeting data protection use cases.

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