The Midnight network is distributing its NIGHT tokens through a multi-phase distribution process, aiming to empower a diverse community. The NIGHT token is used to generate DUST, a shielded network resource that powers transactions, promoting sustainable operations and enabling free transactions for holders who generate enough DUST. The process consists of three Claim phases and a Redemption period, where eligible participants can claim token allocations without purchase. The token supply will be allocated as follows:
Claim Phase 1: Glacier Drop
- 50% to ADA holders
- 20% to BTC holders
- 30% split among holders of ETH, SOL, XRP, BNB, AVAX, and BAT, in proportion to their relative USD value
Claim Phase 2: Scavenger Mine
100% of unclaimed tokens from the Glacier Drop phase will be:
- Distributed among participants
- Allocated to core network constituents (Midnight Foundation, Midnight TGE, Reserve, and on-chain Treasury)
- Carried over to the next claim phase (Lost-and-Found)
Claim Phase 3: Lost-and-Found
In the Lost-and-Found phase, eligible individuals who missed the Glacier Drop claim phase can claim a fraction of their original token entitlements from the remaining tokens in the Lost-and-Found pool.
