Hoskinson Debunks Rumors: Midnight Airdrop Surpasses 1.3 Billion NIGHT Tokens

Cardano founder Charles Hoskinson has strongly denied speculation that the Midnight (NIGHT) token airdrop was manipulated in favor of insiders. His response came as the number of claimed tokens surged past 1.3 billion, just weeks after the project’s launch.

Dispute Over “Token Hoarding” The controversy began with a meme circulating on X, suggesting that most of the Midnight tokens would ultimately end up in Hoskinson’s hands. The satirical post highlighted the “elephant in the room,” raising doubts about the level of community participation in the airdrop. Hoskinson swiftly dismissed the claims as pure disinformation. “Why spread lies?” he wrote, attaching statistics that demonstrated strong engagement. According to data from Glacier Drop, as of August 19, more than 69,000 wallets had claimed 1.3 billion NIGHT tokens, representing 5.5% of the total supply.

Slow Start? Analysts Explain Some analysts noted that adoption might appear slower compared to speculative projects, partly because the Cardano ecosystem has long been considered less dynamic. However, they emphasized that the 60-day claim period ensures fairer distribution – the fewer people who claim tokens early, the greater the rewards for those who do. This could lead to a late surge in participation. The Glacier Drop airdrop launched in early August and exceeded 250 million token claims within the first 24 hours, a milestone Hoskinson highlighted to showcase community involvement.

Midnight Targets Institutions Midnight is also expanding its ecosystem through strategic partnerships. Most recently, it announced a collaboration with Fireblocks, a leading digital asset management platform. This partnership allows institutional clients to securely claim, store, and trade NIGHT tokens. Fireblocks praised the project as a step forward for privacy and security in the blockchain space. The distribution of NIGHT tokens is structured to support broader adoption: 50% of the supply (12 billion NIGHT) will go to ADA holders.5% (1.2 billion NIGHT) will be distributed to XRP holders.The remainder will be allocated to users across other blockchains and Bitcoin holders.

Transparency as the Key Hoskinson’s quick rebuttal highlighted how sensitive the community is to fairness and transparency when new tokens are introduced. Data so far suggests that interest in Midnight is strong, and the project could become a cornerstone in advancing blockchain privacy and institutional adoption.

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