Midnight Network, a privacy -centered block chain that takes advantage of zero knowledge intelligent contracts, published its Tokenomic document and presented its ‘Glacier Drop’ air mechanism before claims for the native night token from next month.
The project said that Glacier Drop is a novel process that assigns all night tokens to users of eight main blockchain ecosystems and is deployed in three sequential phases. Tokens will be available in Bitcoin, Ethereum, Cardano, Solana, Binance Chain, Brave, Ripple and Avalanche, the company said in a press release on Monday.
First, for a 60 -day claim period from July, eligible wallets, those that have at least $ 100 in native tokens at the time of a snapshot prior to the announcement, can claim their complete allocation.
That is followed by a 30 -day scavenger mine, which redistributes any tokens not claimed to participants who complete computational tasks using a work test mechanism.
After the main launch of the network at the end of this year, a phase of four years lost and found will allow the original plaintiffs to miss the initial window to recover part of their allocation through the self -directed verification.
To avoid supply shocks, night tokens will be unlocked in four random installments for a 360 -day period. This “defrosting mechanism” is intended to moisten volatility and promote long -term commitment to the network.
Fahmi Syed, president of the Midnight Foundation in Cayman, which supervises the project, said the approach reflects the widest vision of the “Rational Privacy” network, which provides developers a granular control over what data is shared in the chain.
The instantaneous eligibility has already taken place, and there is more information available at Midnight.network.
