MidnightPrice

(NIGHT)

Eligibility was based on a snapshot taken on June 11, 2025. To qualify, users were required to hold at least $100 equivalent in supported assets, including ADA, BTC, ETH, SOL, XRP, BNB, AVAX, or BAT, within a self-custody wallet. For those holding funds on exchanges, eligibility was limited to users of platforms like LBank that officially announced support for the Midnight distribution. There is also a planned 'Lost and Found' phase for eligible users who missed the initial claim deadline, though allocations may be reduced.

To maintain 'rational privacy' and ensure a secure claim process, the redemption protocol requires a destination address with no prior transaction history. This 'clean' address ensures that your new NIGHT holdings are not immediately linked to your previous transaction metadata. This approach is fundamental to Midnight's goal of providing secure, private digital identity and asset management from the moment the tokens are claimed.

Midnight operates using two distinct tokens to balance utility and privacy. NIGHT is the unshielded, tradable utility and governance token used for securing the network. By holding NIGHT, users generate DUST, which is a shielded, non-transferable resource used exclusively to pay for transaction fees. DUST features a 'decay' mechanism to prevent hoarding. This 'Battery Recharge' model allows users who hold sufficient NIGHT to effectively cover their operational transaction costs.

Unlike traditional privacy coins that shield all transaction data, Midnight utilizes 'Rational Privacy.' The NIGHT token itself is transparent and public to remain compliant with global regulatory standards and facilitate listings on exchanges like LBank. Privacy is instead managed at the smart contract level using Zero-Knowledge Proofs (ZKPs). This allows users to prove the validity of a statement—such as proof of age or sufficient balance—without revealing the sensitive underlying data.

Claimed NIGHT tokens are subject to a 360-day thawing period to ensure network stability. Tokens are released in four equal installments of 25% every 90 days. To assist users with empty destination wallets, the Midnight portal includes an 'On Behalf Of' feature. This allows you to use a separate Cardano wallet containing ADA to cover the gas fees required for the redemption of your NIGHT tokens, ensuring a smooth transition even for new addresses.

Users should only interact with official domains like midnight.network and midnight.gd. The official redemption process will never request your seed phrase or private keys; it only requires a standard wallet connection or an off-chain signature. Any site asking for recovery phrases is a scam. Always verify announcements through official channels and trusted exchange partners like LBank to ensure you are following the correct security protocols.