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HomeCrypto NewsMarketCardano Founder Shares Who is Eligible for Midnight Airdrop 

Cardano Founder Shares Who is Eligible for Midnight Airdrop 

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As the development of Midnight progresses, Cardano founder Charles Hoskinson recently gave hints on the eligibility criteria for its airdrop.

Hoskinson shared new information about the Midnight airdrop during a surprise AMA session on Nov. 17, triggering both excitement and discussions within the Cardano community. 

Midnight, a privacy-focused sidechain under the Cardano ecosystem, is looking to revolutionize blockchain privacy. However, questions about eligibility and distribution mechanisms remain unanswered, leaving the community eager for more information.

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Hoskinson Discusses Midnight Airdrop Eligibility 

Recall that Midnight plans to introduce a dual-token model, incorporating both NIGHT and DUST. NIGHT tokens will serve governance and staking purposes, while DUST will act as the primary currency for transactions on the Midnight blockchain. 

In the AMA session, Hoskinson confirmed that ADA holders would be eligible for the DUST airdrop, which he referred to as a “glacier drop.” This process involves distributing Midnight’s Dust tokens to ADA stakeholders. 

However, recipients will need to participate in mining on the Midnight blockchain to fully acquire their tokens. Hoskinson highlighted that Cardano will be the primary platform for the token distribution, though more details are expected as the project progresses.

Growing Community Inquiries 

Tobes, the founder of ZKDID, shared an excerpt of the AMA session, with several community members asking questions about airdrop mechanics and eligibility criteria. While Tobes provided some answers, he admitted much of his input was speculative due to the lack of official clarity.

Responding to whether the airdrop depends on which pool users are delegating their ADA, Tobes suggested that an SPO would likely need to validate the Midnight chain. He speculated that eligibility might hinge on the stake managed by the SPO.

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The community figure also addressed concerns about ADA stored on platforms like Kraken. He noted that eligibility might depend on whether the exchange runs a Midnight validator using user stakes. He advised investors to consider moving their stake to increase their chances of eligibility.

Another question raised was whether holding Cardano Native Tokens (CNTs) could substitute for ADA holdings. This remains uncertain, but Hoskinson did mention that the airdrop would go to “ADA holders.”

Midnight Development Progressing 

Midnight stands out for its commitment to privacy and regulatory compliance. It employs zk-SNARK technology to secure transactions, ensuring that sensitive data remains confidential. 

Despite the excitement surrounding Midnight, both investors and ADA holders await clearer guidelines. As Hoskinson indicated, more announcements will be made as the project approaches its next phase of development. For now, the focus remains on ensuring ADA holders are informed and prepared to participate.

In a previous disclosure, Hoskinson confirmed that the development of Midnight was moving smoothly, as a developer unveiled the first zkApp on the sidechain. Last month, the Cardano founder reacted to the launch of the Midnight testnet.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Sam Wisdom Raphael
Sam Wisdom Raphael
Sam Wisdom Raphael is a seasoned crypto news writer and journalist with 5 years of experience covering blockchain, DeFi, and crypto developments. Sam's active presence in the crypto community complements his deep understanding of the crypto space, allowing him to craft comprehensible price analysis reports and tackle technical blockchain concepts.

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