Midnight Network's 24 Billion Token Glacier Drop Underway, Bolstering Privacy-Focused Ecosystem

The Midnight Network, a privacy-centric blockchain operating as a sidechain within the Cardano ecosystem, has officially commenced its "Glacier Drop," a massive distribution of 24 billion $NIGHT tokens. This event, which began on August 5, 2025, aims to expand the network's reach and solidify its foundation in "rational privacy" and its unique two-token economic model. Fahmi Syed, President of the Midnight Foundation, has been instrumental in explaining these core tenets.

The Glacier Drop is a significant, multi-phase token distribution designed to reach eligible wallets across eight major blockchain ecosystems, including Cardano (ADA), Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, BNB, Avalanche (AVAX), and Basic Attention Token (BAT). To qualify, addresses needed to hold a minimum of $100 worth of native tokens in self-custody as of a snapshot taken on June 11, 2025. The initial claim window is open for 60 days, concluding on October 4, 2025.

Central to the Midnight Network's design is its innovative two-token system, comprising $NIGHT and $DUST. The $NIGHT token serves as the network's native utility token, facilitating governance, staking, consensus, and block production. In contrast, $DUST functions as the network resource used to pay for transaction fees, with $NIGHT holders generating $DUST, effectively allowing them to transact on Midnight for free.

The concept of "rational privacy" is fundamental to the Midnight Network, which leverages zero-knowledge proofs (ZKPs) to enable programmable data protection and selective disclosure. This allows users to determine who can access sensitive information, bridging the gap between blockchain transparency and individual confidentiality. The network aims to empower developers to build applications that manage regulatory requirements while safeguarding user data.

To ensure long-term stability and prevent immediate market saturation, claimed $NIGHT tokens are subject to a staggered vesting schedule. Twenty-five percent of the claimed allocation will unlock every 90 days over the course of one year. Unclaimed tokens from the Glacier Drop will roll into subsequent phases, including the "Scavenger Mine" and "Lost-and-Found," providing further opportunities for community participation and token distribution.