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As the development of Midnight progresses, Cardano founder Charles Hoskinson recently gave hints on the eligibility criteria for its airdrop.
Hoskinson shared new information about the Midnight airdrop during a surprise AMA session on Nov. 17, triggering both excitement and discussions within the Cardano community.
Midnight, a privacy-focused sidechain under the Cardano ecosystem, is looking to revolutionize blockchain privacy. However, questions about eligibility and distribution mechanisms remain unanswered, leaving the community eager for more information.
Hoskinson Discusses Midnight Airdrop Eligibility
Recall that Midnight plans to introduce a dual-token model, incorporating both NIGHT and DUST. NIGHT tokens will serve governance and staking purposes, while DUST will act as the primary currency for transactions on the Midnight blockchain.
In the AMA session, Hoskinson confirmed that ADA holders would be eligible for the DUST airdrop, which he referred to as a “glacier drop.” This process involves distributing Midnight’s Dust tokens to ADA stakeholders.
However, recipients will need to participate in mining on the Midnight blockchain to fully acquire their tokens. Hoskinson highlighted that Cardano will be the primary platform for the token distribution, though more details are expected as the project progresses.
Growing Community Inquiries
Tobes, the founder of ZKDID, shared an excerpt of the AMA session, with several community members asking questions about airdrop mechanics and eligibility criteria. While Tobes provided some answers, he admitted much of his input was speculative due to the lack of official clarity.
Responding to whether the airdrop depends on which pool users are delegating their ADA, Tobes suggested that an SPO would likely need to validate the Midnight chain. He speculated that eligibility might hinge on the stake managed by the SPO.
The community figure also addressed concerns about ADA stored on platforms like Kraken. He noted that eligibility might depend on whether the exchange runs a Midnight validator using user stakes. He advised investors to consider moving their stake to increase their chances of eligibility.
Another question raised was whether holding Cardano Native Tokens (CNTs) could substitute for ADA holdings. This remains uncertain, but Hoskinson did mention that the airdrop would go to “ADA holders.”
Midnight Development Progressing
Midnight stands out for its commitment to privacy and regulatory compliance. It employs zk-SNARK technology to secure transactions, ensuring that sensitive data remains confidential.
Despite the excitement surrounding Midnight, both investors and ADA holders await clearer guidelines. As Hoskinson indicated, more announcements will be made as the project approaches its next phase of development. For now, the focus remains on ensuring ADA holders are informed and prepared to participate.
In a previous disclosure, Hoskinson confirmed that the development of Midnight was moving smoothly, as a developer unveiled the first zkApp on the sidechain. Last month, the Cardano founder reacted to the launch of the Midnight testnet.