Midnight Network, a privacy-focused blockchain that utilizes zero-knowledge smart contracts, announced its tokenomics paper and revealed his ‘Glacier Drop’ AirDrop mechanism before demanding the original night-token from next month.
The project said Glacier Drop is a new process that assigns all night tokens to users across eight large blockchain ecosystems and rolls out in three sequential stages. Tokensene will be available at Bitcoin, Ethereum, Cardano, Solana, Binance Chain, Brave, Ripple and Avalanche, the company said in a press release on Monday.
First, during a 60-day claim period starting in July, qualified wallets can those who have at least $ 100 in native tokens at the time of a predetermined snapshot, demand their full allocation.
It is followed by a 30-day scavenger mining phase that redistributes any unclaimed symbols to participants performing calculation tasks using a proof-of-work-like mechanism.
Following the network’s mainnet launch later this year, a four-year-old lost-and-found phase will give original experts who missed the first window to restore part of their allocation through self-controlled verification.
To avoid supply sustaining, Night Tokens unlocks four randomized rates over a period of 360 days. This “thawing mechanism” is intended to dampen volatility and promote long -term engagement with the network.
Fahmi Syed, president of the Cayman-based Midnight Foundation, which oversees the project, said the procedure reflects the network’s broader vision of “rational privacy”, giving developers granular control over what data is shared on the chain.
Snapshot in eligibility has already taken place and more information is available at midnight.network.
