Input Output Global, the renowned blockchain company founded by Charles Hoskinson and Jeremy Wood, announces a new crypto project called Midnight after the huge success of their Cardano (ADA). As a part of its launch, the company organizes an airdrop campaign for all eligible users.
This article will be a comprehensive guide to the Midnight and its airdrop, covering the eligibility, launch date, and other key details. We will also provide a step-by-step guide to participate. Let’s start.
What Is Midnight?
Midnight, a blockchain technology with zero-knowledge (“ZK”) proofs, aims to create a secure and scalable user infrastructure. Beyond its privacy for transactional metadata, Midnight will help business organizations monetize their projects without revealing the underlying data.
Midnight uses TypeScript technology in smart contracts, helping users with little programming skills to run programs. Also, its ledger offers programmable data protection for advanced users to customize their projects. The Kachina-based research technology allows businesses to use specific types of ZK circuits rather than generalized ones.
Projects can run multiple apps on the same blockchain simultaneously without compromising the customer data. They can use FIAT in addition to multiple cryptocurrencies in the payment mechanism. The chain has two foundational coins; NIGHT and DUST.
NIGHT & DUST: Working Mechanism Of Midnight’s Token System
Usually, a blockchain token system will reveal the complete data to anybody with a contract address. Midnight solves this by introducing a two-coin system. For chain-level activities, it has DUST coin as fuel, and for governance and consensus participation, it has NIGHT tokens.
- DUST: DUST, as the name suggests, works as energy that will power up the internal functions of the ecosystem. So, it cannot be transferred outside the blockchain. It can access protected resources to initiate transactions.
- NIGHT: It is a deflationary coin with a fixed supply. Block creators will get NIGHT as rewards, that can be traded or used for the network’s governance. Initially, it will work under Cardano as a Cardano native asset (CNA)
Midnight Airdrop: How Does It Work?
The details of the airdrop campaign were first revealed by Charles Hoskinson during his AMA sessions. Apart from that, there are no official details about how the airdrop works. However, Hoskinson’s AMA suggests that all the Testnet participants and Cardano hodlers will be a part of the drop.
We can assume that NIGHT tokens will be airdropped instead of DUST. Also, the campaign will have usual tasks for the users to complete. You can participate in upcoming AMA sessions with Charles Hoskinson to learn more about the event.
Eligibility Criteria For The Midnight Airdrop
During the AMA session on Nov. 17, Charles Hoskinson called the campaign a glacier drop, suggesting that ADA hodlers will be eligible to receive it. Also, users might need to participate in the Midnight ecosystem during the Testnet phase, which is live now. More information will be added after the official confirmation of the airdrop.
Is This Airdrop Free?
This airdrop will be 100% free to participate. However, for the mining processes inside the Midnight network, you might need to spend some ADA. Keep in mind that this is not a finalized information.
How To Claim The Midnight Airdrop?
To participate in the airdrop, you might need to be a part of the Midnight ecosystem. Here is a guide to becoming a participant in the Testnet version of the platform:
- First, you should check whether your system is a part of supported devices. You can find the list of supported devices in the docs of Midnight. Then you have to install the Midnight wallet.
- Go to the Midnight Releases page on the official website and select the latest version of the wallet. Unzip the wallet and install it as a Chrome extension. For that, you need to enable Developer Mode and manually visit the Extensions tab.
- Now, set up the wallet and visit the Midnight Testnet Faucet. Paste your wallet address and request to receive DUST tokens. Visit the Docker downloads page and install the latest version. That’s it. Open it and connect your wallet to engage with the ecosystem.
Midnight Airdrop Launch Date & End Date
The Testnet is live. The mainnet launch is expected to happen around January 2025. So, we can assume that the airdrop campaign will be concluded in January. The exact dates will be released shortly.
How To Withdraw Your Midnight Earnings?
According to the roadmap, the NIGHT token will be listed on A-tier exchanges around the first quarter of 2025. All the users who received the allocation can send their tokens to these exchanges to cash out. Step-by-step instructions will be provided here when the withdrawal becomes live.
Final Thoughts
As a project from the renowned Cardano team, this is one of the rare airdrops that offer 100% gains. However, be aware that many of the airdrop details are just speculations because of the unavailability of official confirmation.
Follow the official social media accounts of the founders to stay updated with detailed data about the airdrop. Finally, browse through our website for more airdrop campaigns, price predictions, and other crypto-based insights.
