Cardano Launches NIGHT Token Airdrop to 30 Million Wallets Across Eight Blockchain Ecosystems

Cardano Drops NIGHT Tokens to 30 Million Wallets: All You Need to Know

In a groundbreaking move, Cardano’s Midnight Network has officially launched the NIGHT token airdrop, targeting an unprecedented 30 million wallets across eight major blockchain ecosystems. The ambitious initiative aims to onboard long-term users and encourage responsible token distribution.

Notably, over 50% of the total supply has been allocated to Cardano users, demonstrating the project’s commitment to its core community. Meanwhile, Bitcoin and other networks will receive a smaller portion of the NIGHT tokens.

The airdrop, dubbed the “Glacier Drop,” offers a 60-day claim window, which is set to close on October 4th. The eligibility criteria for the airdrop were determined by taking a snapshot of user data on July 11th, focusing on wallets that held at least $100 in native assets across the supported chains.

The development comes as a milestone event for Charles Hoskinson, Cardano’s founder, who has hailed it as the culmination of six years of dedication. He took to Twitter to reveal that an astonishing 470 million NIGHT tokens have already been redeemed by users.

Following the current claim period, the Midnight Network will initiate a “Scavenger Mine” phase, which is designed to redistribute unclaimed tokens to users solving on-chain challenges. This will be followed by a four-year “Lost and Found” window for late claimants.

To facilitate smooth token claiming, users have been instructed to follow a three-step process through the Midnight portal. Initially, they must submit their Cardano destination addresses and sign a message to prove ownership. The allocation is frozen initially, after which users can redeem tokens within a 90-day grace period once unlocked in four installments of 25% across 360 days.

Notwithstanding some reported issues with redemption, many users have commended the experience as seamless and well-guided, praising the user interface for delivering a reliable token claiming process.

Source: www.coinspeaker.com