Charles Hoskinson Unveils Details of Midnight Project Airdrop

Tokens from the privacy-focused sidechain Midnight, part of the Cardano ecosystem, will be distributed among 37 million wallets across eight blockchains. This was announced by the network’s founder, Charles Hoskinson, according to CoinDesk.

Users will receive governance tokens NIGHT and utility assets DUST.

The economic model of Midnight aims to ensure cross-chain interaction: developers will be able to pay rewards in native tokens, while validators can earn income from various blockchains.

The entrepreneur’s plan, called Glacier Drop, is intended to enhance community cooperation and counteract so-called tribalism.

“[Creators of various networks] say, ‘My project is better than yours.’ Nash equilibrium is about cooperation, not competition,” the expert explained.

The airdrop is intended solely for retail users, with no participation from venture firms or early investors. Hoskinson dismissed the latter category, citing a “lack of time for Ponzi schemes.”

Recipients of NIGHT and DUST will be able to store, exchange, or sell them, the entrepreneur explained.

Glacier Drop embodies Hoskinson’s vision of “co-operative economics”. The new Midnight model will allow for 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 clarified. 

Validators from different chains can jointly support the blockchain, receiving rewards regardless of their “residence.”

The Midnight team has launched a test network, with the mainnet expected by the end of 2025.

Hoskinson believes Glacier Drop, co-operative economics, and rational privacy are essential for attracting billions of users in light of the entry of major tech companies into the industry.

Earlier in May, the Cardano founder hinted at the possible release of a stablecoin with a level of privacy comparable to cash.