Midnight

What is Midnight (NIGHT)?

Midnight is a blockchain focused on programmable privacy. It describes itself as a fourth-generation network that uses zero-knowledge technology so applications can prove facts about data without revealing the data itself, while keeping costs predictable. It is closely connected to Cardano: NIGHT exists as a native token on both Cardano and the Midnight network. Midnight launched in a federated configuration, with infrastructure run by named enterprise node operators, and governance is expected to move toward greater decentralization over time. Developer code is published under the midnightntwrk organization on GitHub.

How NIGHT and DUST work

Midnight uses two assets with different jobs:

• NIGHT is the unshielded utility token. It is public and transferable, and it is used for on-chain voting on proposals, including protocol upgrades and treasury spending.
• DUST is the shielded resource used to pay transaction fees. It is non-transferable and decays over time.
• Holding NIGHT and designating a DUST address generates DUST continuously, so holders can fund usage without spending their NIGHT.
• Developers can hold NIGHT to generate DUST on behalf of their users, which supports predictable application costs.

NIGHT supply and token design

The total supply of NIGHT is fixed at 24,000,000,000. Distribution began with the Glacier Drop, which made the full supply claimable by holders of several major assets, including ADA, BTC, ETH, SOL, XRP, BNB, AVAX and BAT. The original distribution plan set aside 50% for ADA holders and 20% for Bitcoin holders, with the rest split among the other eligible chains, and claimed tokens were set to unlock in four stages, 25% every 90 days. Live circulating supply is shown in the market data on this page. NIGHT also trades as a token on BNB Smart Chain; confirm contracts through official channels before moving funds.

Official information is on midnight.network.

What to check before using NIGHT

• Staged unlocks of claimed tokens can add supply to the market over time.
• While the network runs in a federated configuration, a small group of operators carries more control than on fully decentralized chains.
• Privacy technology can face regulatory scrutiny in some jurisdictions; check the rules that apply to you.
• DUST cannot be transferred and decays, so fee capacity depends on how much NIGHT you hold and how you set it up.
• NIGHT exists on more than one chain; moving between them requires official tools and carries smart contract risk.