Input | Output CEO and founder Charles Hoskinson confirmed that Midnight will be instrumental in propelling Cardano to the next level.
Following the launch of Midnight’s Glacier Drop portal, Hoskinson has expressed his enthusiasm about the privacy blockchain.
During a recent livestream, he highlighted the importance of building projects like Midnight to help elevate Cardano to the next level.
NIGHT to Become the Biggest Native Token on Cardano
He reiterated that Midnight will launch on the Cardano network. At launch, Hoskinson expects Midnight’s utility token, NIGHT, to become the largest, most traded, and highest volume Cardano native token (CNT).
According to Midnight’s whitepaper, NIGHT has a total supply of 24 billion tokens. Given its distribution model—which involves allocating 100% of its supply to users of eight blockchain ecosystems—NIGHT is poised to attract adoption beyond the Cardano community.
In Hoskinson’s view, this anticipated adoption could drive NIGHT’s trading volume and visibility more than other Cardano Native Tokens. By extension, that level of activity could showcase Cardano’s security, scalability, and performance under enormous demands.
"Midnight will be the largest, most prominent, most traded, and highest volume Cardano native token in circulation." pic.twitter.com/aGUtQ9RxeA
— TapTools (@TapTools) August 6, 2025
Team is Excited About Midnight
Furthermore, Hoskinson noted that the team’s excitement hinges on the fact that Midnight will not only build the Cardano ecosystem but live on the platform.
When a project like Midnight succeeds, it captures the attention of users and developers who might also be interested in the project’s base network, Cardano.
For context, Hoskinson has been heavily involved with the Midnight project since its introduction in November 2022. The project has been under development ever since. Nonetheless, Midnight has attracted strong institutional attention, with Hoskinson disclosing its partnership with over 100 ventures.
In the meantime, the Midnight Foundation has yet to announce the official date for its mainnet launch. Despite this, the project has made significant progress towards its launch, including opening the Glacier Drop claim portal, allowing eligible users across eight blockchains to claim their NIGHT tokens.
Over 23K Users Claim 470M NIGHT
Since the portal opened on August 5, more than 20,000 eligible wallets have claimed NIGHT. Hoskinson disclosed that 23,182 wallets have claimed 470 million NIGHT as of 03:09 (UTC) today.
The number of claims recorded so far is significantly lower than the nearly 34 million wallets eligible for the airdrop. This low participation likely stems from the issues Trezor and Ledger users are encountering when trying to claim their tokens.
The Midnight Foundation team is currently working on a fix to address the issue before the Glacier Drop portal closes on October 4, 2025.
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.
