Cardano’s Midnight Network has launched its extremely anticipated NIGHT token airdrop, and the crypto neighborhood responded in full drive. Within hours of the August 5 launch of the “Glacier Drop” part, over 11,000 wallets throughout eight main blockchains claimed greater than 250 million NIGHT tokens.
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The Midnight declare portal, now dwell, helps wallets from Cardano, Bitcoin, Ethereum, XRP, Solana, BNB, Avalanche, and Brave’s BAT. In whole, 33.6 million wallets are eligible to take part on this multi-phase distribution.
ADA's value traits sideways on the every day chart, regardless of the launch of the extremely anticipated Cardano NIGHT airdrop. Source: ADAUSD on Tradingview
Phased Airdrop Mechanics and Cross-Chain Eligibility
While Cardano customers will obtain the biggest share, 50% of the entire 24 billion NIGHT tokens, holders from different networks are additionally included within the drop. The declare course of is designed to be honest and non-custodial, requiring customers to confirm eligibility and signal a transaction.
This first part will stay open for 60 days, adopted by a second part (Scavenger Mine) the place customers can earn unclaimed tokens by on-chain computational duties. A 3rd “Lost-and-Found” stage will start post-mainnet and permit late claims for a restricted fraction of the unique allocation.
Ledger Wallet Glitch Hampers Some Cardano Users
Despite the joy, not the whole lot has gone easily. Many ADA holders utilizing Ledger {hardware} wallets reported points when making an attempt to say NIGHT tokens.
According to Cardano founder Charles Hoskinson, the issue lies with Ledger’s firmware, which at present helps message signing of solely 31 bytes, far wanting the 251 bytes wanted for the Glacier Drop.
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Cardano builders are actively engaged on a workaround, urging affected customers to attempt once more later within the month. “If you might be one of many impacted folks, then come again in the direction of the top of the month and check out once more,” Hoskinson suggested on X.
$71M Upgrade Fails to Lift ADA Price
Surprisingly, the airdrop’s momentum comes at a time when Cardano’s $71 million community improve has underwhelmed the market. Designed to reinforce good contract efficiency and scalability, the replace has barely moved ADA’s value, which hovers round $0.72, a 2.92% drop within the final 24 hours.
Cover picture from ChatGPT, ADAUSD chart from Tradingview
