London | December 4, 2025 — Midnight TGE, the entity responsible for distributing NIGHT, the Midnight Network’s native token, today launched NIGHT on Cardano. Midnight TGE Midnight Network The launch enables redemptions for more than 4.5 billion NIGHT tokens claimed during the Glacier Drop and Scavenger Mine claim phases – culminating in one of the broadest and most engaged distributions in blockchain history – with the redemption period opening on December 10th. The remaining supply will be distributed to the network’s core constituents named in the tokenomics paper, published earlier this year. “This is a pivotal step on the Midnight roadmap” said Fahmi Syed, President of the Midnight Foundation. “The community will now be able to hold their NIGHT, see their unlock schedules, and prepare to meaningfully participate in a network that’s bringing essential privacy infrastructure to the entire industry.” “This is a pivotal step on the Midnight roadmap” said Fahmi Syed, President of the Midnight Foundation. “The community will now be able to hold their NIGHT, see their unlock schedules, and prepare to meaningfully participate in a network that’s bringing essential privacy infrastructure to the entire industry.” This is a pivotal step on the Midnight roadmap Midnight Foundation The community will now be able to hold their NIGHT, see their unlock schedules, and prepare to meaningfully participate in a network that’s bringing essential privacy infrastructure to the entire industry.” Midnight is a new L1 blockchain that leverages zero-knowledge proofs and a unique tokenomics model to give users more control over what data they share on-chain. NIGHT is the native token of the Midnight network, enabling users to utilize the network, participate in consensus, and govern the long term direction of the network. At mainnet launch, NIGHT will also begin generating DUST – the renewable resource used to execute shielded transactions and smart contract operations on the network. This industry-first model is designed to support predictable network capacity while enabling privacy-enhancing transactions that preserve confidentiality without compromising auditability. The Redemption phase of Glacier Drop will open next Wednesday, December 10th at 00:00 UTC, with the Redemption portal scheduled to go live shortly beforehand, enabling participants to preview their NIGHT allocations and thawing schedule ahead of time. The Redemption phase’s thawing will follow the Glacier Drop thawing schedule outlined in the network’s tokenomics paper, with allocations unlocking in four equal installments over 360 days, with each allocation’s first thaw date randomly assigned within the initial 90 day window, and subsequent thaws every 90 days. Redemption portal This staggered approach is designed to ensure a fair diffusion as the ecosystem advances in planned phases, from testnet to fully decentralized mainnet. Further details about how participants can collect their NIGHT will be provided through official Midnight channels in the coming days. “The gradual thawing of NIGHT is intentional and aligned to our phased roadmap, which is designed to provide a clear, resilient and responsible path to decentralization, ensuring the ecosystem matures in a way our partners and community can trust” continued Syed. “By launching NIGHT now, we’re providing immediate utility and liquidity to the community while we continue developing robust foundations for our mainnet launch early next year.” “The gradual thawing of NIGHT is intentional and aligned to our phased roadmap, which is designed to provide a clear, resilient and responsible path to decentralization, ensuring the ecosystem matures in a way our partners and community can trust” continued Syed. “By launching NIGHT now, we’re providing immediate utility and liquidity to the community while we continue developing robust foundations for our mainnet launch early next year.” The gradual thawing of NIGHT is intentional and aligned to our phased roadmap, which is designed to provide a clear, resilient and responsible path to decentralization, ensuring the ecosystem matures in a way our partners and community can trust By launching NIGHT now, we’re providing immediate utility and liquidity to the community while we continue developing robust foundations for our mainnet launch early next year.” Once Midnight mainnet launches, NIGHT’s total supply will be mirrored onto the Midnight ledger, creating a single, multi-chain asset that’s circulating supply exists on both Midnight and Cardano. A protocol-level mechanism ensures that tokens can only be fully unlocked on one chain at any time, preventing duplication of value as NIGHT moves between ecosystems. Major exchange, custodian and wallet partners are expected to announce their support of NIGHT in the coming days, further expanding accessibility and liquidity as the network approaches mainnet. Additional wallet, infrastructure and ecosystem integrations will continue to roll out as Midnight advances towards launch. About Midnight TGE Midnight TGE is the token-generating entity responsible for the initial distribution of NIGHT to network participants. Established to support the launch and decentralization of the Midnight ecosystem, the entity ensures tokens are allocated in accordance with the project’s tokenomics and distribution schedule. For more information, visit: https://midnight.gd/ https://midnight.gd About Midnight Foundation The Midnight Foundation is an organization dedicated to advancing the development, adoption, and real-world impact of the Midnight network, the privacy-enhancing blockchain project developed in conjunction with Shielded Technologies. Designed for privacy-enabling smart contracts, Midnight encourages developers to consider the power of building compliant applications with selective disclosures. It leverages zero-knowledge proofs and a cooperative tokenomics architecture—with NIGHT as the utility token and DUST as the utility resource—to deliver a powerful combination of rational privacy, security, and decentralization. For more information, visit: https://midnight.foundation https://midnight.foundation
