MIDNIGHT TOKEN DISTRIBUTION
The free, multi-phase distribution of NIGHT tokens is aimed at
empowering a broad, diverse community to build the future of the
Midnight network.
NIGHT token allocations will be granted for free to eligible participants
through a multi-phase token distribution: no purchase is involved.
The distribution will consist primarily of three Claim phases and a
Redemption period, giving a broad community of users multiple
opportunities to participate.
Participants claim their token allocations by demonstrating they meet the eligibility criteria for each phase.
Claimants then redeem their tokens as they thaw (unlock) during the Redemption period, thus transferring their tokens to their Destination Address.
The allocation of the NIGHT token supply will follow the three claim phases
below. Community participation levels during each phase will
determine allocations towards core network constituents.
The distribution will consist primarily of three Claim phases and a
Redemption period, giving a broad community of users multiple
opportunities to participate.
Up to 100% of the total supply claimable by eligible Glacier Drop participants in proportion to tokens held across key networks as per the breakdown below. Unclaimed tokens carry over to the next phase.
During this phase, 100% of the unclaimed tokens from the Glacier Drop phase will be processed and apportioned between participants, core network constituents (Midnight Foundation, Midnight TGE, Reserve, and on-chain Treasury), and the third claim phase. For more details, check out the Midnight tokenomics and incentives whitepaper.
The amount of tokens remaining on the Lost-and-Found pool will be claimable by those Glacier Drop-eligible individuals who missed the first claim phase as a fraction of their original entitlements.
Midnight introduces a composite system where NIGHT, the native token, continually generates DUST, the shielded network resource that powers transactions. This segregation enables metadata protection and promotes sustainable operations.
There’s no capital expenditure for executing transactions: NIGHT holders can effectively transact on Midnight for free for as long as they hold enough tokens to generate the minimum required DUST.
