3 hours ago
Midnight Network, a privacy-focused blockchain leveraging zero-knowledge astute contracts, published its tokenomics paper and unveiled its 'Glacier Drop' airdrop mechanics successful beforehand of claims for the autochthonal NIGHT token starting adjacent month.
The task said Glacier Drop is simply a caller process that allocates each NIGHT tokens to users crossed 8 large blockchain ecosystems and rolls retired successful 3 sequential phases. The tokens volition beryllium disposable connected Bitcoin, Ethereum, Cardano, Solana, Binance Chain, Brave, Ripple and Avalanche, the institution said successful a property merchandise Monday.
First, during a 60-day assertion play starting successful July, eligible wallets, those holding astatine slightest $100 successful autochthonal tokens astatine the clip of a pre-announced snapshot, tin assertion their afloat allocation.
That is followed by a 30-day Scavenger Mine phase, which redistributes immoderate unclaimed tokens to participants who implicit computational tasks utilizing a proof-of-work-like mechanism.
After the network’s mainnet motorboat aboriginal this year, a four-year Lost-and-Found signifier volition let archetypal claimants who missed the archetypal model to retrieve portion of their allocation done self-directed verification.
To debar proviso shocks, NIGHT tokens volition unlock successful 4 randomized installments implicit a 360-day period. This "thawing mechanism" is intended to damp volatility and beforehand semipermanent engagement with the network.
Fahmi Syed, president of the Cayman-based Midnight Foundation, which oversees the project, said the attack reflects the network’s broader imaginativeness of "rational privacy," giving developers granular power implicit what information is shared on-chain.
The eligibility snapshot has already taken place, and much accusation is disposable astatine midnight.network.
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