Midnight Network’s Glacier Drop Airdrops NIGHT Tokens to 30M Wallets

Midnight Network has launched the much-anticipated NIGHT token airdrop, known as the Glacier Drop, distributing tokens to 30 million wallets across eight ecosystems including Cardano, Bitcoin, Ethereum, Solana, BNB Chain, Avalanche, XRP Ledger and Brave. The airdrop began on August 5 with a 60-day claim period ending October 4. Eligibility was based on a July 11 snapshot, requiring at least $100 in native assets. Cardano users received 50% of the total supply, Bitcoin 20%, and other chains 30%. Over 23,000 redemptions have processed to date, totaling 470 million NIGHT tokens, according to Charles Hoskinson. Participants can claim via a three-step process on Midnight’s portal, submitting a Cardano address, signing a message, and awaiting quarterly token unlocks over a year. This NIGHT token airdrop structure, with phased unlocks, aims to curb market dumping and ensure steady growth. Unclaimed tokens enter a Scavenger Mine phase, followed by a four-year Lost and Found window for late claimants.
Neutral
The structured NIGHT token airdrop emphasizes phased distribution and long-term adoption, reducing the risk of immediate sell-offs. Similar large-scale airdrops (e.g., Optimism, Arbitrum) saw an initial price uptick followed by stable trading as tokens vested. While the Glacier Drop boosts network engagement and onboarding, supply unlocks over 360 days may temper sudden market moves. Traders can expect neutral short-term price impact with potential bullish sentiment long-term as ecosystem activity grows.